Reference is made to the stock exchange announcements published by Norse
Atlantic ASA (the "Company") on 29 November 2024 regarding the entering into of
a letter of intent (the "LOI") for wet lease agreements for six aircraft with a
reputable international airline. Today the Company has signed a firm wet lease
agreement (the "Agreement") for one aircraft with the Indian airline IndiGo.
The aircraft is expected to start operations in March 2025 serving long haul
routes out of India. The initial term of the Agreement is six months, extendable
to up to 18 months, subject to regulatory approvals. Both Parties remain
committed to explore opportunities to further extend this period, subject to
regulatory approvals.
Norse and IndiGo continue exploring opportunities to contract additional
aircraft and increase their collaboration further.
The commercial terms of the wet lease agreement for one 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 2024 IndiGo carried
more than 113 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.
"This contract represents an important milestone for Norse as we partner with
one of the largest and most reputable airlines in the world. We look forward to
support IndiGo's long haul services, and to deliver an exceptional travel
experience to their customers" said Bjorn Tore Larsen, CEO and Founder of Norse
Atlantic Airways.
Investor contacts: Anders Hall Jomaas, CFO, +47 40 04 29 18,
anders.jomaas@flynorse.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and the Norwegian Securities Trading Act section
5-12.
This stock exchange announcement was published by Anders Hall Jomaas on the time
and date provided.