Norse Atlantic wet-leases two 787s to Pakistan International Airlines

Norse Atlantic Airways has secured a wet-lease agreement with Pakistan International Airlines for two Boeing 787-9 Dreamliners. Operations under the deal are set to begin from the start of November 2026, resuming direct flights between the United Kingdom and Pakistan.

The arrangement, known as an ACMI lease, includes aircraft, crew, maintenance, and insurance. Norse Atlantic will provide the two widebody jets, which Pakistan's national flag carrier intends to deploy on transatlantic routes bridging multiple destinations in the two countries.

Context of PIA’s return and Norse Atlantic’s strategy

Pakistan International Airlines is resuming UK flights after a five-year air safety ban. That ban was prompted by concerns about the airline employing pilots with fake qualifications. It was only lifted late last year.

The deal also marks a strategic shift for Norse Atlantic. The airline is moving from scheduled long-haul flights to ACMI leasing contracts. Chief executive Eivind Roald said such deals help maintain cash flow and use assets during restructuring. Norse Atlantic started as a scheduled long-haul airline operating flights from Norway and London Gatwick to the United States.

For PIA, the partnership follows a landmark privatisation in December 2025. The airline has since embarked on a comprehensive corporate transformation focused on rapid fleet modernisation and strategic route expansion.

Broader industry shifts and implications

Norse Atlantic Airways has struggled to gain a foothold in the competitive long-haul market. This new agreement comes after a previous long-term wet-lease deal with IndiGo Airlines collapsed. IndiGo abandoned its long-haul expansion to Europe in July due to continued geopolitical challenges.

After IndiGo's withdrawal, Norse Atlantic was scrambling to find other wet-lease deals while examining a sale, merger, or partnership. The airline stated that charter and ACMI agreements are integral to its balanced business model, enabling attractive capacity opportunities worldwide.

Norse Atlantic Airways is currently in active discussions with other leading international airlines regarding potential additional ACMI agreements. The company operates a modern fleet of 12 fuel-efficient Boeing 787-9 Dreamliners and serves a network across North America, Europe, Africa and Asia.

Such industry shifts may affect flight availability and pricing for travelers. Airlines increasingly use ACMI leasing to manage capacity without long-term fleet commitments.

Recent UK-Pakistan aviation engagement

The wet-lease deal coincides with renewed bilateral aviation cooperation. Last Thursday, Pakistan and the United Kingdom discussed aviation cooperation, including potential Airbus and Rolls-Royce aircraft and engine arrangements for PIA. Talks covered possible UK export credit support and leasing options.

Last month, Pakistan's Finance Minister Muhammad Aurangzeb met with US EXIM Bank Chair John Jovanovich to seek financing opportunities for PIA’s planned aircraft purchases, specifically Boeing 787 Dreamliners. Aurangzeb emphasised PIA’s interest in Boeing aircraft and the need for spare parts to bring grounded Boeing 777s back into service.

PIA currently has a fleet of 31 aircraft comprising Boeing 777s and Airbus A320s and serves a vast network from China to North America. Flight operations with the newly leased Norse Atlantic Boeing 787-9s are expected to commence from the start of November 2026.