Norse Atlantic ASA: Operational and strategic update

Arendal, Norway, 31 July 2026,

Norse Atlantic ASA ("Norse Atlantic" or the "Company") provides an operational and strategic update following its agreement with InterGlobe Aviation Limited ("IndiGo") to discontinue the ACMI cooperation effective 1 November 2026. The redelivery of the remaining five aircraft currently operated by IndiGo increases available capacity to support ongoing ACMI discussions with other airlines, expansion of own network as well as more asset flexibility in the ongoing strategic review.

Operational update

As announced on 2 June 2026, IndiGo previously notified Norse Atlantic of the redelivery of one aircraft at the end of August following the closure of its Manchester route. Since then, the parties have discussed the remaining ACMI cooperation and mutually agreed to discontinue the arrangement due to the continued geopolitical challenges affecting the airline industry and long-haul operations between India and Europe.

"We are grateful for the strong cooperation we have had with IndiGo over the past eighteen months. It has been a valuable experience for Norse Atlantic. However, there is no doubt that the elevated fuel prices, airspace disruptions and longer flight routes resulting from the Middle East conflict have affected the commercial viability of the arrangement for both parties. We have therefore jointly concluded that alternative deployment of the aircraft will be more commercially beneficial to both parties," says Eivind Roald, CEO of Norse Atlantic.

"We extend our appreciation to Norse Atlantic Airways for its valued partnership and professional services; and to our customers, employees and partners whose trust, commitment and support have been central to this journey," says Abhijit Dasgupta, SVP Planning & Revenue Management  from Indigo.

Fleet deployment

Norse is already engaged in discussions with several airlines regarding ACMI opportunities for up to five aircraft and expects to provide further updates in due course. Moreover, the Company intends to deploy part of the returning fleet within its own network for increased production on selected profitable routes during the upcoming winter season, such as flights from Europe to Orlando and New York.

Strategic update

The transition provides Norse Atlantic with greater fleet flexibility as the Company advances its strategic review. Given the level of interest received to date as part of the strategic review, the Board has decided to move forward with a formal process, which may result in a sale, merger or partnership. Further information will be provided as and when appropriate.

 "The return of these six aircraft opens up strategic opportunities that were not available to us before. We are seeing strong demand for modern, fuel -efficient long-haul aircraft, and we also see attractive opportunities to deploy additional capacity within our own network. Our priority is to use this increased flexibility to improve profitability and create long-term value for our shareholders," says Eivind Roald.

Contacts

Investors and media: CFO, Anders Hall Jomaas, anders.jomaas@flynorse.com

About Norse Atlantic Airways ASA

Norse Atlantic Airways is an airline committed to offering affordable fares on direct, long-haul flights to popular destinations, along with specialized charter and ACMI services for tailored travel needs and extensive cargo operations. Norse Atlantic operates a modern fleet of 12 fuel-efficient Boeing 787 Dreamliners, serving a network of destinations across North America, Europe, Africa and Asia.

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