We re-initiate coverage of Norse Atlantic with a Buy recommendation and a target price of NOK 0.80/share. After a challenging time as a point-to-point transatlantic carrier in a highly competitive market, Norse has now reshaped the investment case. Its dual strategy, retaining profitable routes in its own network while shifting underperforming aircraft into sublease and charter operations, has materially reduced risk and improved earnings visibility. The IndiGo agreement adds stable cash flow an ....
