Norse Atlantic As (NRSAF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

My name is Eivind Ruval and I'm the new CEO of North Atlantic Airways from December last year. I'm here to present the Q4 results together with our CFO, Alex Joumos. Before I start, I will give a quick introduction to my background and I'll also share some reflections on why I took the position as the new CEO. I have more than 30 years of experience from various executive positions in Scandinavian companies. I've been leading the turnaround in Hewlett Packard as managing director for many, many years. I was the executive vice president and chief commercial officer in Scandinavian Airlines for many years. And I've also been leading European software companies and worked for several PE companies as well. When I accepted the position for this job, I was discussing and looking into North, and I see that this company has a very good foundation for actually becoming a very profitable company in the future. First of all, they have a very attractive leases agreement that goes for many years from now. You have a very competitive product that reached the market, and we see that with all the high load factor we have during all the quarters as well. The balanced model with more than 50% of the aircraft outsourced to Air Indigo is also giving us a foreseen revenue stream and indirectly also hedging the fuel. That is an important part of the cost focus these days. And then industry leading ancillary sales. That gives us a good foundation for actually increasing the revenue as we go in the future as well. We do also see some need for improvements when I looked into the company. I think we need an even more clear business idea of what we should focus on. We need to optimize the network to make sure that we reach the right destination and also the utilization of our aircrafts. We nee...