Norse Atlantic lands lease deal with PIA
Norse Atlantic Airways has signed a deal to lease two Boeing 787-9 Dreamliners to Pakistan International Airlines. This move is part of the Norwegian airline's strategy to focus on ACMI contracts to stabilize its finances.
Why it matters
Illustrates the shifting business models of low-cost carriers as they pivot toward leasing services to mitigate market volatility and fuel costs.
--> Home Pakistan Norse Atlantic lands lease deal with PIA Says long-term ACMI agreements with major international carriers help shield it from market fluctuations
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> View of a Norse Atlantic Boeing 787 Dreamliner aircraft parked at Oslo (Gardermoen) Airport in Norway on March 4, 2022. Photo: REUTERS Norse Atlantic Airways will lease two Boeing 787-9 Dreamliners to Pakistan International Airlines (PIA), it said on Friday, in the latest move by the struggling Norwegian airline to shore up its finances.
The agreement helps Norse retain a key ACMI (aircraft, crew, maintenance and insurance) contract after India's largest airline, IndiGo, said in July it would end its wet-lease arrangement with the Norwegian group.
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