Oslo, Norway — Norse Atlantic Airways has withdrawn its 2026 profit forecasts after fuel prices surged to record levels. The airline cited skyrocketing jet fuel costs as the primary reason for the decision, which was announced on Friday. The move follows months of volatility in global energy markets, driven by geopolitical tensions and supply constraints.
The Oslo-based carrier had previously projected positive earnings by 2026 under more stable conditions. However, the airline now states that the current fuel expense levels make it impossible to maintain those expectations. Industry analysts note that airlines worldwide are facing similar pressures, with many opting to revise financial outlooks in response to rising costs.
In a separate development, Norse Atlantic secured a $110 million rescue package to stabilize operations. The funds, secured through a rights issue, will provide short-term liquidity. The airline emphasized that the cash infusion is critical to covering immediate expenses, including fuel purchases and operational overheads.
Chief Executive Officer Bjørn Tore Larsen stated that the company is adjusting its strategy to prioritize cost control while navigating the fuel crisis. The airline has also explored options such as route adjustments and fleet optimization to mitigate financial strain. Larsen added that the situation remains fluid, with further decisions dependent on market developments.
Norse Atlantic operates a fleet of Boeing 787 Dreamliners and focuses on long-haul routes between Europe and North America. The company’s latest financial moves reflect broader challenges in the aviation sector, where carriers are struggling to balance rising expenses with passenger demand.
Source: e24.no