Norse Atlantic Airways has announced a new addition to its route network. From October 28, 2024, the long-haul, low-cost airline will start flying between London-Gatwick (LGW) and Cape Town (CPT), South Africa, three times per week.
The new service, which, like all Norse Atlantic Airways flights, will be operated by a Boeing 787-9 aircraft, will depart Gatwick on Monday, Wednesday, and Saturday in the evening, with the return flight to Europe taking place the next morning. Fares will start at £499 (US$620 approximately) return in economy and £1,199 (US$1,495) return in premium class.
In a press release announcing the new route, Norse Atlantic Airways said it intended to break what is now a duopoly between London and Cape Town during the winter season, with British Airways operating at twice-daily service and Virgin Atlantic a daily one. Both airlines operate their Cape Town services from London-Heathrow (LHR).
Norse Atlantic Airways has been tweaking its network and schedules while it struggles to achieve profitability. In the last 12 months, the carrier discontinued its Berlin (BER) services, launched a new seasonal route between Athens (ATH) and New York (JFK), transferred its Fort Lauderdale (FLL) services to Miami International (MIA) and launched a new route between London-Gatwick and Las Vegas (LAS), Nevada, which will start in September 2024.
In 2023, the airline posted a net loss of $168 million on revenue of $439.4 million and closed Q1 2024 with a cash position of $32.6 million.
On April 16, 2024, Norse Atlantic secured a $20 million revolving credit facility from two of its existing shareholders, Scorpio Holdings and B T Larsen & Co, a firm owned by the airline’s CEO. This line of credit will help the airline shore up liquidity until October 2024.
The airline’s management expressed its optimism towards the summer season, with forward bookings pointing towards a marked increase in revenues.
