The owners of Norse Atlantic Airways are reported to be looking for an investor willing to buy the airline.
According to several media reports, the airline hired investment bank JPMorgan to conduct a strategic review of the airline’s business with the ultimate goal of finding either an acquirer or a merger opportunity for the company. Despite improved operational figures, Norse Atlantic Airways continues to face a challenging cash situation.
The deterioration in the broader macroeconomic environment, caused by the military conflict in the Gulf and the related increase in fuel prices, arrived just at the time when Norse Atlantic was getting closer to profitability.
In 2025, the Norwegian long-haul, low-cost carrier increased its revenues from $588 million to $734 million and managed to obtain a positive EBITDAR of $56.5 million, all while narrowing operational losses from $97 to $20.1 million.
The carrier’s strategic reorientation, which has seen it focus on a smaller number of core markets in Scandinavia and the UK and the lease out of part of its fleet to other operators (notably to fast-growing Indian low-cost carrier IndiGo) as an ACMI provider, appeared to be bearing fruit.
However, investors remain unconvinced, and the airline’s shares continue to trade at or near to its historical minimum. What’s more, an attempt by the airline to raise $90 million in a share offering was cancelled in December 2025, due to share prices falling below the subscription price.
Norse Atlantic recently launched a cost-cutting initiative to preserve cash, targeting around $50 million in savings.
Despite these challenges, Norse Atlantic Airways is said to be able to command a valuation of around $1 billion.