Norse Atlantic Airways to establish a business services center in Latvia

During the official visit of Latvia's Prime Minister, Evika Silina, to Norway on October 24-25, an agreement was secured for Norse Atlantic Airways to establish a new corporate office in Riga, Latvia.

Norse Atlantic Airways is an airline that offers affordable fares on long-haul flights, primarily between Europe and the United States. The company was founded by CEO and significant shareholder Bjørn Tore Larsen in March 2021. Norse has a fleet of 15 modern, fuel-efficient and more environmentally friendly Boeing 787 Dreamliners that serve destinations including New York, Los Angeles, Las Vegas, Miami, Orlando, Bangkok, Cape Town, Oslo, Athens, London, Berlin, Rome and Paris. The company's first flight took off from Oslo to New York on June 14, 2022.

"Latvia has established itself as a center of excellence for the aviation industry in the Baltics, and several airlines are already successfully operating here. Therefore, it is no surprise that this sector continues to grow - the result of dedicated efforts over the years," emphasized Raivis Bremsmits, Director General of the Investment and Development Agency of Latvia.

"Given our evolved business strategy towards more charter and ACMI flying, we have identified the Baltics, specifically Latvia, as a centre of excellence for such operations. We have had fruitful meetings with the Latvian authorities at the highest level, and we would like to thank them for their support. We are certain that Riga will be a good location for this important office," said Bjorn Tore Larsen, CEO and Founder of Norse Atlantic Airways.

Norse Atlantic Airways selected Latvia as the best location to establish a business services center and potentially enhance the airline's further growth. Prime Minister Evika Silina's strong support, alongside practical steps by Latvian institutions to advance the project, also played a significant role in this decision. The Riga office will complement the airline's Arendal, Oslo, London, Paris, and Fort Lauderdale offices.

The Investment and Development Agency of Latvia (LIAA), especially its representative office in Norway, has been in contact with Norse Atlantic Airways for several years and has worked closely with Riga Airport, Latvian financial organizations, and other institutions to implement this joint project. It offers the most suitable solution aligned with the company’s development strategy.

Norway is the eighth-largest foreign investor in Latvia, with over 240 Norwegian companies currently operating in the country. According to a survey conducted by LIAA, eight out of the ten largest Norwegian capital companies in Latvia are interested in expanding their presence within the next three years.

An additional incentive for developing the aviation sector is the authorisation granted by the US Federal Aviation Administration, allowing aircraft operators registered in Latvia to conduct direct passenger and cargo commercial flights between Latvia and the United States.

Soure: LIAA