Norse Atlantic Airways has entered into a wet lease agreement with Interglobe Aviation Limited (“IndiGo”) for two more aircraft. This completes the scope of six Boeing 787-9 Dreamliners described in the letter of intent (LOI).
The agreement secures additional fixed long-term revenues for Norse Atlantic and reduces the company’s market risk, and is in accordance with Norse Atlantic’s strategy to create strong efficiencies through maximum utilization of the aircraft fleet, combining demand from both ACMI and own scheduled network.
“This agreement represents an important milestone in our collaboration with IndiGo and reinforces our partnership with one of the world’s leading airlines. The wet lease agreement with a total of six aircraft means that we further strengthen our strategic and financial position in a volatile market”, says Bjørn Tore Larsen, CEO and founder of Norse Atlantic Airways.
The additional two aircraft are expected to start operations by early 2026, serving long haul routes out of India. The initial term of the Agreement is six months, extendable up to 18 months, subject to regulatory approvals. Both parties remain committed to exploring opportunities to further extend this period, subject to regulatory approvals. The first aircraft was delivered in March and is already servicing IndiGo’s Delhi – Bangkok route.
The commercial terms of the Agreement for the additional two aircraft are in line with what was communicated by the Company in the announcement of the LOI on 29 November 2024.
IndiGo is the largest airline in India by passengers carried and fleet size, it is also one of the largest individual airlines in Asia and the world, both in terms of passengers carried, fleet size and market cap. In FY 25 IndiGo carried more than 118 million passengers. Currently, IndiGo operates primarily domestic and regional short to medium haul services out of India but are in the process of expanding its global reach by adding long-haul services. To support its long-haul expansion IndiGo has placed a firm order for 30 Airbus 350-900 wide body aircraft with an option for additional 70 aircraft, with deliveries expected to commence from 2027.
