Scandinavian long-haul carrier Norse Atlantic Airways has ended talks with a potential strategic investor, without reaching an agreement.

Norse Atlantic has been looking at partnership options – both strategic and commercial – after appointing Seabury Securities as its investment banker at the beginning of the year.

The carrier stated that this could involve another airline taking a material ownership stake.

Norse has not disclosed the identity of the prospective partner with which it has been holding talks, but says the discussions had reached an “advanced stage” before ending with “no formal agreement”.

The carrier says it will continue to work with Seabury Securities to “ensure that potential opportunities are carefully considered”.

Norse Atlantic 787-c-Norse Atlantic Airways

Source: Norse Atlantic Airways

Norse has been exploring options including part-ownership by another airline

Norse, which has been flying for two years, operates a fleet of Boeing 787s. It has been looking to diversify its operations by offering winter services to other companies in order to balance seasonality effects.

It recently unveiled an agreement with Italian leisure airline Neos for 787 capacity out of Milan.

“Our focus remains to deliver on our opportunistic and flexible business model by securing additional longer-term winter charter contracts, and operating our own core summer routes when demand is at its highest,” says Norse chief Bjorn Tore Larsen.

He adds that the airline will keep shareholders informed about progress with other “active strategic avenues”.