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Miss Norwegian Air? The former CEO’s new low-cost transatlantic airline is eerily similar

March 16, 2021
3 min read
Miss Norwegian Air? The former CEO’s new low-cost transatlantic airline is eerily similar
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Bjørn Kjos, the former CEO of Norwegian Air, is about to try his hand at running an airline once again.

The bold entrepreneur is planning on launching his new venture, called Norse Atlantic Airways, with the first flight planned for December 2021.

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Kjos will take the reigns of Norse Atlantic, along with the help of investors and fellow Bjørns — Bjørn Tore Larsen and Bjørn Kise.

“I have thought for a long time that it is important to have a low-cost player across the Atlantic, and it was a bit in the cards that Norwegian should not continue,” Larsen said in an interview with Dagens Næringsliv.

At first glance, Norse Atlantic Airways looks like it will be picking up exactly where Norwegian left off when it announced in January it would be suspending its long-haul operations.

Related: 5 reasons we’ll miss Norwegian long haul

The Dreamliner — a loved aircraft by many a pilot — is the start-up’s aircraft of choice. Norse Atlantic intends to lease nine of Norwegian Air’s 787s, with three more in the pipeline, bringing the total to 12.

The aircraft is one of the most modern, fuel-efficient and environmentally friendly aircraft in the skies today.

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There is no word of an official schedule or route network just yet. However, we do know that the airline is looking to fly its Dreamliners on routes between European hubs and the U.S., capitalizing on Norwegian’s recent departure from the transatlantic market.

Will Norse Atlantic Air succeed?

Given the history of the market, evidence would suggest a turbulent journey ahead for this latest long-haul, low-cost venture. However, Norse Atlantic has already secured significant investor interest — a total of $24 million of shares have been subscribed through the airline’s floating on the Oslo Stock Exchange.

Confidence in the new venture is likely to come from Kjos being in charge. After taking over what was known as Norwegian Air Shuttle in 2002, Kjos transformed the small regional airline into what was — pre-pandemic — Scandinavia’s second-largest airline.

“There is no doubt that [owning an airline] is risky business, just like shipping,” Larsen said. “Timing is incredibly important, and we believe it has never been better. This is the one opportunity to get in and take over a market position and get much cheaper flights than otherwise.”

Like many in the industry, those in charge of Norse Atlantic are hoping that the current vaccine rollout will go in their favor.

“This makes the economy different, and we can establish ourselves at low cost when people on both sides of the Atlantic have been vaccinated and start traveling again,” Larsen said.

Related: Country-by-country guide to where you can go if you’re vaccinated

Featured image by CEO Bjorn Kjos of Norwegian Air Shuttle ASA attends a press conference in Oslo, Norway on January 29, 2019. - Struggling low-cost carrier Norwegian Air Shuttle said January 29, 2019 it planned to sell new shares to raise three billion kroner (309 million euros) to meet financial obligations as it restructures and cuts costs. Norwegian shares fell sharply in reaction to the news, losing nearly a third in early deals before regaining some lost ground to show a fall of around 16 percent mid-morning. (Photo by Heiko Junge / various sources / AFP) / Norway OUT (Photo credit should read HEIKO JUNGE/AFP via Getty Images)
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Best card for premium perks while traveling
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

10XEarn unlimited 10X miles on hotels and rental cars booked through Capital One Travel
5X5X miles on flights booked through Capital One Travel.
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  • Intro Offer
    Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

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  • Annual Fee

    $395
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    740-850
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Why We Chose It

The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.

Pros

  • Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
  • Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
  • 10,000 bonus miles (worth $100 toward travel) each account anniversary.

Cons

  • The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
  • If you don’t travel frequently, this might not be the best card for you.
  • Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
  • Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
  • Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
  • Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
  • Earn unlimited 2X miles on all other purchases
  • Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
  • Receive up to a $100 credit for Global Entry or TSA PreCheck®
  • Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
  • Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
  • Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023