(Bloomberg) -- Norse Atlantic ASA is offering steep discounts on flights to the US as the struggling transatlantic specialist fights to bring in more cash over the slower winter season.
As summer travel winds down, the Oslo-based discounter launched a sale on US fares over the coming months, it said in a statement Wednesday. From Oct. 1, a round-trip flight to New York from its London Gatwick hub can be had for as low as £259 ($400), with deals also in place for cities including Los Angeles, Miami and Las Vegas.
The move comes after Norse Atlantic pared back its winter network in a bid to conserve cash and hold down costs. The discount airline burned through half of its cash during the first half of the year, and over winter it will lend out more of its fleet to charter operations to generate revenue. Filling the remaining scheduled flights would also help.
Norse Atlantic Pares Back Winter Schedule as Cash Runs Low
The promotion is likely to boost short-term sales for Norse Atlantic as customers rush to lock in deals. The tickets on offer include a return flight from London Gatwick to Las Vegas for as little as £299 including taxes, and to Miami or Los Angeles from £275. Promotional fares are also in place on a handful of flights from Oslo, Berlin, Athens and Paris.
The schedule cuts will limit the window for some cheap fares. Flights from Gatwick to Los Angeles, for example, will be paused altogether from November through April 2025. The promotion ends on June 15.
Norse has endured a rough year going up against more-established rivals. The stock is down 82% after talks to secure a strategic investment failed and credit-card companies held back cash. The company has said it may need to raise more debt or equity.
Formed during the pandemic, Norse operates 12 Boeing Co. 787 Dreamliner jets that were once used by Norwegian Air Shuttle, a discounter that turned away from the transatlantic market after filing for Chapter 11 bankruptcy in 2020.
A Norse spokesman didn’t immediately respond to requests for comment.
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