Norse Atlantic As (NRSAF) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.071 -- 00:00:05.252 Welcome everyone and thank you for joining the NORS Atlantic second quarter 2026 00:00:05.252 -- 00:00:10.033 presentation. As you are aware of, we are in a very challenging period for the entire 00:00:10.033 -- 00:00:14.093 airline industry with conflicts impacting air traffic and travel demand. 00:00:14.093 -- 00:00:18.314 Today we will take you through the actions we have taken to navigate these challenges 00:00:18.314 -- 00:00:22.675 and to position NORS for the future, including the ongoing strategic review. 00:00:22.675 -- 00:00:27.876 We have reduced capacity where the economics did not work and delivered record unit 00:00:27.876 -- 00:00:32.679 revenues in our own network. I believe this shows that we offer a great product to our 00:00:32.679 -- 00:00:37.344 passengers. However, the sharp reduction in production, our fixed cost base and higher 00:00:37.344 -- 00:00:42.690 fuel prices impacted profitability. Our ACMI 00:00:42.690 -- 00:00:47.996 operations were also affected with lower than planned production and longer flight durations 00:00:47.996 -- 00:00:52.919 on the Indigo operation. Overall, this has been a bad quarter for Norse from a financial 00:00:52.919 -- 00:00:57.481 perspective and we will need to implement further measures to reduce our costs. 00:00:57.481 -- 00:01:02.343 In this situation, we are strongly focused on executing on our strategy with increased 00:01:02.343 -- 00:01:07.685 commercial flexibility and ensuring that our cost cut program Falcon continues to 00:01:07.685 -- 00:01:12.027 deliver. The strategic review is also progressing with strong interest from multiple 00:01:12.027 -- 00:01:14.248 parties from different parts of the world. 00:01:14.248 -- 00:01:20.213 Some have described Q2 as the wo...