Norse Atlantic ASA (NRSAF) Q2 2026 Earnings Call Prepared Remarks Transcript

SA Transcripts 161.97K Followers Follow Norse Atlantic ASA ( NRSAF ) Q2 2026 Earnings Call August 19, 2026 8:00 PM EDT Company Participants Eivind Roald - President & CEO Anders Jomaas - Chief Financial Officer Presentation Eivind Roald President & CEO Welcome, everyone, and thank you for joining the Norse Atlantic Second Quarter 2026 presentation. As you are aware of, we are in a very challenging period for the entire airline industry with conflicts impacting air traffic and travel demand. Today, we will take you through the actions we have taken to navigate these challenges and to position Norse for the future, including the ongoing strategic review. We have reduced capacity where the economics did not work and delivered record unit revenues in our own network. I believe this shows that we offer a great product to our passengers. However, the sharp reduction in production, our fixed cost base and higher fuel prices impacted profitability. Our ACMI operations were also affected with lower-than-planned production and longer flight durations on the IndiGo operation. Overall, this has been a bad quarter for Norse from a financial perspective, and we will need to implement further measures to reduce our costs. In this situation, we are strongly focused on executing on our strategy with increased commercial flexibility and ensuring that our cost cut program, Falcon, continues to deliver. The strategic review is also progressing with strong interest from multiple parties from different parts of the world. Some have described Q2 as the worst quarter since the pandemic for the airline industry. Fuel prices were exceptionally high going into Q2, and they have remained elevated. Travel demand has been reduced due to the conflict in the Middle East. And while the industry has trimmed available seat capacity, costs have not followed suit and industry profitability has halved according to IATA. For Norse, the impact