Just months after Norwegian was forced to close its long-haul operations, the company's founders Bjørn Kjos and Bjørn Kise are now investing in a new Norwegian low-cost airline that will fly between Europe and the USA.
The company wants to raise 1.4 billion kronor and go public before flights can begin in December, writes E24.
The new airline, which will be called Norse Atlantic Airways, will offer flights between Europe and the US. The first flights are scheduled for December this year, and the plan is to then expand to Asia.
The routes will be operated by Boeing 787 Dreamliner aircraft and among the destinations mentioned in an initial stage are New York, Los Angeles and Miami on the American side and London, Paris and Oslo in Europe.
The main person behind the venture is Bjørn Tore Larsen, who founded the flight services company OSM Aviation. Among the largest owners are also two other Bjørns: Norwegian's two founders Bjørn Kjos and Bjørn Kise.
According to a press release, Bjørn Tore Larsen owns a total of 63 percent of the new airline, while Bjørn Kjos owns 15 percent and Bjørn Kise 12 percent.
The idea is for Norse Atlantic Airways to be listed on the Euronext Growth in Oslo as early as April. Investors have subscribed for shares for $24 million, equivalent to just over 200 million Swedish kronor. In total, the company aims to raise the equivalent of 1.4 billion kronor to get the business started.
”"We now have a historic opportunity to build a new airline from scratch. When the world reopens, there will be a need for an innovative low-cost carrier in the intercontinental market. A company that focuses on more environmentally friendly aircraft with lower fuel consumption," says Bjørn Tore Larsen in a press release.
Norwegian, which is currently undergoing a restructuring, announced at the beginning of the year that it would close its long-haul operations as part of its efforts to get the company back on its feet.
Bjørn Kjos doesn't think it's strange that he's investing in a new business just months after Norwegian was forced to shut down long-haul flights. He also doesn't rule out the possibility of Norwegian and the newly launched Norse Atlantic Airways collaborating.
”"I really don't want to do anything that is harmful to Norwegian. I wouldn't have participated in this if I didn't feel it was a win-win for Norwegian and Norse," Bjørn Kjos tells E24.
Norse Atlantic Airways will lease the aircraft that Norwegian previously used, Bjørn Tore Larsen tells the newspaper.
”We have signed letters of intent for nine aircraft and are negotiating for three more,” he says.
Source: di.se
