Norse Atlantic Airways posted a heavy second-quarter loss as weaker performance in its own network and disruption in its IndiGo wet-lease operation dragged on revenue and earnings. The airline reported revenue of $132.0 million, an EBIT loss of $27.3 million and a pre-tax loss of $70.5 million, while carrying 345,630 passengers and operating 1,331 flights during the period.
The network business generated negative EBITDAR of about $20 million, pressured by lower production, elevated fuel prices and operational disruption. By contrast, the charter and ACMI segment remained profitable, producing $45.0 million in revenue and $11.7 million in positive EBITDAR.
The IndiGo operation was a particular drag, with reduced utilisation and higher costs undermining performance. Norse expects the remaining aircraft to be redelivered by 1 November 2026, as the Indian carrier winds down its widebody damp-lease flying. The airline is also looking for replacement ACMI and lease work, with reports of talks involving as many as six Boeing 787s for Pakistan International Airlines and Biman Bangladesh Airlines.