Norse Atlantic Airways is pleased to announce that it has agreed improved
payment terms with its credit card payment providers resulting in an immediate
cash release.
In a Company announcement dated 2 July 2024 reference was made to near-term
liquidity being negatively impacted by a tail-heavy summer bookings curve while
awaiting credit card receivables being collected and that various working
capital initiatives were ongoing. The new improved credit card terms have been
achieved at no cost and represent the most favourable working capital solution
and resolve the near-term liquidity issue.We continue working to optimise our
liquidity and our general financial position going forward.
Contacts:
Investors: CFO, Anders Hall Jomaas, Anders.Jomaas@flynorse.com
Media: SVP Communications, Philip Allport, philip.allport@flynorse.com
Norse Atlantic Airways is an airline that offers affordable fares on long-haul
flights, primarily between Europe and the United States. The company was founded
by CEO and major shareholder Bjørn Tore Larsen in March 2021. Norse has a fleet
of 15 modern, fuel-efficient and more environmentally friendly Boeing 787
Dreamliners that serve destinations including New York, Las Vegas, Los Angeles,
Orlando, Miami, Cape Town, Bangkok, Oslo, Athens, London, Berlin, Rome and
Paris. The company's first flight took off from Oslo to New York on June 14,
2022.