Norse Atlantic ASA (NRSAF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Norse Atlantic ASA (NRSAF) trades at $0.55 with AI Score 48/100 (Grade C). Norse Atlantic ASA, founded in 2021, provides long-haul airline services connecting Europe and the United States. Market cap: $90.60M, Sector: Industrials.
Price live · AI analysis from Mar 17, 2026Analyst Coverage for NRSAF: NRSAF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates NRSAF against Industrials peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
NRSAF: the 1 perspectives are evenly split.
How is this calculated? →Norse Atlantic ASA (NRSAF) Industrial Operations Profile
Norse Atlantic ASA, established in 2021, operates as a long-haul airline, focusing on transatlantic routes between Europe and the United States. Headquartered in Norway, the company differentiates itself by offering budget-friendly travel options, targeting leisure travelers seeking affordable fares between major cities.
What Is the Investment Thesis for NRSAF?
Norse Atlantic ASA presents a unique investment proposition within the airline industry, focusing on the budget long-haul travel segment. The company's strategy of offering lower fares on transatlantic routes could attract a significant customer base, particularly leisure travelers. Key value drivers include efficient fleet management and high aircraft utilization, which are essential for maintaining profitability. Growth catalysts include the potential expansion of its route network and increased brand recognition. However, investors may want to evaluate the risks associated with the airline industry, such as fluctuating fuel prices, intense competition, and potential economic downturns. The company's negative profit margin of -8.4% and a negative P/E ratio of -1.60 highlight the challenges it faces in achieving profitability. Monitoring key performance indicators such as load factors, revenue per available seat mile (RASM), and cost per available seat mile (CASM) will be crucial in assessing the company's long-term viability.
Based on FMP financials and quantitative analysis
NRSAF Key Highlights
- Norse Atlantic ASA operates in the long-haul airline sector, focusing on transatlantic routes between Europe and the United States.
- The company was founded in 2021 and is headquartered in Arendal, Norway.
- Norse Atlantic ASA's market capitalization is approximately $0.09 billion as of March 17, 2026.
- The company's P/E ratio is -1.60, indicating current losses.
- Norse Atlantic ASA's profit margin is -8.4%, reflecting ongoing challenges with profitability.
Who Are NRSAF's Competitors?
NRSAF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AMROF Amaero International Ltd | $0.23 | +11.90% | $149.34M | 56 |
| BYYLF Balyo S.A. | $0.40 | +0.00% | $66.83M | 54 |
| CNRD Conrad Industries, Inc. | $25.05 | +0.00% | $125.70M | 51 |
| DIALF Dialight plc | $4.90 | +0.00% | $195.87M | 55 |
| JOBY Joby Aviation, Inc. | $9.07 | +6.89% | $8.93B | 65 |
| GOL Gol Linhas Aéreas Inteligentes S.A. | $2.71 | +3.23% | $4.35B | 62 |
| JTTRY Japan Airport Terminal Co., Ltd. | $15.20 | +8.88% | $2.82B | 62 |
| CAAP Corporación América Airports S.A. | $25.74 | +2.02% | $4.20B | 59 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are NRSAF's Key Strengths?
- Low-cost business model
- Efficient fleet of Boeing 787 Dreamliners
- Focus on underserved transatlantic routes
- Relatively new fleet reduces maintenance costs
What Are NRSAF's Weaknesses?
- Negative profit margin
- High dependence on leisure travel, which is cyclical
- Limited brand recognition compared to established airlines
- Exposure to fluctuating fuel prices
What Could Drive NRSAF Stock Higher?
- Potential expansion of route network to new destinations in Europe and the United States.
- Implementation of cost-saving measures to improve profitability.
- Focus on increasing ancillary revenue through optional services.
- Strategic partnerships with other airlines or travel companies to expand reach.
- Brand building initiatives to increase visibility and attract more customers.
What Are the Key Risks for NRSAF?
- Financial-distress signal — its Altman Z-Score of 0.02 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
- Intense competition from established legacy carriers and low-cost airlines.
- Economic downturns affecting travel demand.
- Fluctuations in fuel prices impacting profitability.
- Regulatory changes and geopolitical risks affecting airline operations.
- Limited financial disclosure due to OTC Other listing.
What Are the Growth Opportunities for NRSAF?
- Route Network Expansion: Norse Atlantic ASA has the opportunity to expand its route network to include additional destinations in Europe and the United States. By identifying underserved markets and leveraging its low-cost model, the company can attract new customers and increase revenue. The transatlantic market is estimated to grow by 5-7% annually, providing a favorable backdrop for expansion. This expansion could be realized within the next 2-3 years, contingent on securing necessary regulatory approvals and airport slots.
- Ancillary Revenue Growth: Norse Atlantic ASA can increase its revenue by focusing on ancillary services such as baggage fees, seat selection, and in-flight meals. By offering a range of optional services, the company can cater to different customer preferences and generate additional revenue streams. The global ancillary revenue market for airlines is projected to reach $100 billion by 2028, presenting a significant opportunity for Norse Atlantic. Implementation of enhanced ancillary offerings can begin immediately and contribute to revenue growth within the next year.
- Fleet Optimization: Norse Atlantic ASA can optimize its fleet utilization to improve efficiency and reduce costs. By increasing the number of flights per aircraft and minimizing turnaround times, the company can maximize its revenue-generating capacity. Efficient fleet management is crucial for maintaining competitive pricing and achieving profitability. This optimization can be achieved through improved scheduling and maintenance practices over the next 1-2 years.
- Strategic Partnerships: Norse Atlantic ASA can form strategic partnerships with other airlines or travel companies to expand its reach and offer seamless travel experiences to its customers. By collaborating with complementary businesses, the company can access new markets and enhance its brand recognition. Potential partnerships could include code-sharing agreements or joint marketing campaigns. These partnerships could be established within the next year, leading to increased customer acquisition and revenue growth.
- Brand Building: Norse Atlantic ASA can invest in brand building initiatives to increase its visibility and attract more customers. By promoting its low-cost model and highlighting its unique value proposition, the company can differentiate itself from competitors and establish a strong brand identity. Effective marketing campaigns and social media engagement can contribute to increased brand awareness and customer loyalty. These initiatives can be implemented immediately and will contribute to long-term growth.
What Opportunities Does NRSAF Have?
- Expansion of route network to new destinations
- Increased ancillary revenue through optional services
- Strategic partnerships with other airlines or travel companies
- Growing demand for affordable international travel
What Threats Does NRSAF Face?
- Intense competition from established legacy carriers and low-cost airlines
- Economic downturns affecting travel demand
- Fluctuations in fuel prices
- Regulatory changes and geopolitical risks
What Are NRSAF's Competitive Advantages?
- Low-cost structure enabling competitive pricing
- Efficient fleet management and high aircraft utilization
- Strategic focus on underserved transatlantic routes
- Brand recognition as a budget-friendly airline
What Does NRSAF Do?
Norse Atlantic ASA, established in 2021, is a Norwegian long-haul airline committed to providing affordable transatlantic travel. Founded with the vision of democratizing international air travel, Norse Atlantic focuses on connecting major European cities with destinations across the United States. The company operates a fleet of Boeing 787 Dreamliner aircraft, configured to offer both economy and premium cabins. Its route network includes key destinations such as New York, Florida, Paris, London, and Oslo, catering primarily to leisure travelers and budget-conscious individuals. Norse Atlantic aims to disrupt the traditional airline industry by offering lower fares and a simplified service model. Headquartered in Arendal, Norway, the airline employs over 1,000 people and is dedicated to expanding its network and enhancing its customer experience. The airline's business strategy revolves around high aircraft utilization and efficient operations to maintain competitive pricing. Despite its relatively short operational history, Norse Atlantic has quickly established a presence in the transatlantic market, challenging established carriers with its value proposition.
What Products and Services Does NRSAF Offer?
- Provides long-haul airline services
- Connects Europe and the United States with transatlantic flights
- Offers affordable fares for leisure travelers
- Operates a fleet of Boeing 787 Dreamliner aircraft
- Serves destinations including New York, Florida, Paris, London, and Oslo
- Focuses on high aircraft utilization and efficient operations
- Aims to disrupt the traditional airline industry with lower prices
How Does NRSAF Make Money?
- Offers low-cost fares on long-haul transatlantic routes
- Generates revenue from ticket sales and ancillary services
- Focuses on high aircraft utilization to maximize efficiency
- Targets leisure travelers and budget-conscious individuals
What Industry Does NRSAF Operate In?
Norse Atlantic ASA operates within the highly competitive airline industry, specifically targeting the long-haul, low-cost segment. The industry is characterized by fluctuating fuel prices, intense competition, and sensitivity to economic cycles. Market trends include a growing demand for affordable international travel and increasing adoption of ancillary revenue models. Norse Atlantic competes with established legacy carriers and other low-cost airlines, such as AMROF (Air France-KLM) and BYYLF (International Consolidated Airlines Group), requiring it to maintain operational efficiency and competitive pricing to attract and retain customers. The company's success depends on its ability to effectively manage costs, optimize its route network, and differentiate itself in a crowded market.
Who Are NRSAF's Key Customers?
- Leisure travelers seeking affordable transatlantic flights
- Budget-conscious individuals looking for cost-effective travel options
- Tourists visiting destinations in Europe and the United States
- Passengers traveling between major cities such as New York, London, and Paris
How Norse Atlantic ASA Is Valued
Norse Atlantic ASA carries a market capitalization of $90.60M, placing it in the micro-cap category. Relative to its peer group, NRSAF's quantitative score of 48/100 is roughly in line with the peer average of 56/100.
ROE 28%Key Financial Metrics
Return on equity for Norse Atlantic ASA stands at 28.1%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -8.0%, showing how much profit it generates from its asset base. A current ratio of 0.36 means current liabilities exceed short-term assets, a liquidity point worth watching.
F-Score 3/9Financial Health
Norse Atlantic ASA's Piotroski F-Score is 3/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of 0.02 places it in the distress zone, a signal of elevated financial risk.
FY2026 estForward Outlook
Wall Street analysts project Norse Atlantic ASA revenue of about $647.4M for fiscal 2026, with EPS near $-0.00.
NRSAF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in the company's future, indicating that key stakeholders believe in its potential.
- Community sentiment has shifted positively, with discussions highlighting the company's expansion plans and increased flight routes.
- Market perception is improving, as more travelers are returning to international flights, benefiting Norse Atlantic's business model.
- Recent partnerships with travel agencies have generated buzz, enhancing brand visibility and customer reach.
Bear Case
- Concerns over rising operational costs are prevalent, with discussions around fuel prices and labor shortages impacting profitability.
- Community sentiment reflects skepticism about the sustainability of growth, given the competitive landscape in the airline industry.
- Recent regulatory challenges in key markets have raised doubts about future operational flexibility and route expansions.
- Analysts are cautioning about economic uncertainties that could affect consumer travel spending, creating a bearish outlook.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · April 2026
NRSAF Latest News
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Norse Atlantic ASA (NRSAF) Q1 2026 Earnings Call Highlights: Record Revenue Growth Amidst ...
Yahoo! Finance: NRSAF News · May 29, 2026
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Norse Atlantic Launches Strategic Review After Stock Plunges 71%
gurufocus.com · May 21, 2026
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Norse Atlantic ASA (NRSAF) Q1 2026 Earnings Call Prepared Remarks Transcript
seekingalpha.com · May 21, 2026
NRSAF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for NRSAF.
Price Targets
Wall Street price target analysis for NRSAF.
NRSAF MoonshotScore
What does this score mean?
The MoonshotScore rates NRSAF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Latest News
Norse Atlantic ASA (NRSAF) Q1 2026 Earnings Call Highlights: Record Revenue Growth Amidst ...
Norse Atlantic Launches Strategic Review After Stock Plunges 71%
Norse Atlantic ASA (NRSAF) Q1 2026 Earnings Call Prepared Remarks Transcript
Leadership: Kristin Berthelsen
CEO
Kristin Berthelsen is the CEO of Norse Atlantic ASA. Her background includes extensive experience in the aviation industry, with a focus on strategic planning and operational management. Prior to joining Norse Atlantic, she held leadership positions at various airlines, where she was responsible for overseeing fleet operations, route development, and customer service initiatives. She has a proven track record of driving efficiency and improving profitability in the airline sector. Her expertise in airline management and her strategic vision are critical to Norse Atlantic's growth and success.
Track Record: Since becoming CEO of Norse Atlantic ASA, Kristin Berthelsen has focused on expanding the company's route network and improving operational efficiency. Key achievements include launching new transatlantic routes and implementing cost-saving measures. Under her leadership, Norse Atlantic has navigated the challenges of the airline industry and positioned itself for future growth. Her strategic decisions have been instrumental in establishing the company's presence in the competitive transatlantic market.
NRSAF OTC Market Information
The OTC Other tier, where NRSAF trades, represents the lowest tier of the OTC market. Companies in this tier often have limited or no financial disclosure, and may not meet the minimum requirements for listing on higher tiers like OTCQX or OTCQB. Unlike NYSE or NASDAQ-listed companies, those on OTC Other face fewer regulatory requirements, leading to increased risk for investors. This tier is often associated with speculative investments due to the lack of stringent listing standards and oversight.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited financial disclosure due to OTC Other listing.
- Low trading volume and liquidity.
- Potential for price volatility.
- Higher risk of fraud or manipulation compared to listed exchanges.
- Lack of regulatory oversight.
- Verify the company's registration and legal standing.
- Review any available financial statements and disclosures.
- Assess the company's business model and competitive landscape.
- Evaluate the management team and their track record.
- Understand the risks associated with investing in OTC stocks.
- Consult with a financial advisor.
- Monitor news and developments related to the company.
- The company was founded in 2021 and is headquartered in Arendal, Norway.
- Norse Atlantic ASA employs 1082 people.
- The company operates a fleet of Boeing 787 Dreamliner aircraft.
NRSAF Industrials Stock FAQ
What does Norse Atlantic ASA do?
Norse Atlantic ASA is a long-haul airline that provides affordable transatlantic flights, connecting major European cities with destinations across the United States. The company operates a fleet of Boeing 787 Dreamliner aircraft, offering both economy and premium cabins. Norse Atlantic focuses on serving leisure travelers and budget-conscious individuals, providing a low-cost alternative to traditional airlines. The airline generates revenue through ticket sales and ancillary services, such as baggage fees and seat selection. Its business model centers around high aircraft utilization and efficient operations to maintain competitive pricing.
What do analysts say about NRSAF stock?
As of March 17, 2026, formal analyst ratings for NRSAF are limited due to its OTC listing and relatively short operational history. However, key valuation metrics such as the negative P/E ratio of -1.60 and profit margin of -8.4% suggest the company is currently operating at a loss. Growth considerations include the potential for route expansion and increased ancillary revenue. Investors should closely monitor the company's financial performance and operational efficiency to assess its long-term viability. The pending AI analysis may provide additional insights into the company's prospects.
What are the main risks for NRSAF?
Norse Atlantic ASA faces several key risks, including intense competition from established legacy carriers and other low-cost airlines. Fluctuations in fuel prices can significantly impact profitability, as fuel is a major operating expense for airlines. Economic downturns can reduce travel demand, affecting revenue. Additionally, regulatory changes and geopolitical risks can disrupt airline operations. As an OTC-listed company, NRSAF also faces risks associated with limited financial disclosure and lower liquidity. These factors contribute to the overall risk profile of the investment.
What are the key factors to evaluate for NRSAF?
Norse Atlantic ASA (NRSAF) holds an AI score of 48/100 (low). Not financial advice.
How frequently does NRSAF data refresh on this page?
NRSAF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven NRSAF's recent stock price performance?
Norse Atlantic ASA (NRSAF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Low-cost business model. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider NRSAF overvalued or undervalued right now?
Valuing Norse Atlantic ASA (NRSAF) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying NRSAF?
Before investing in Norse Atlantic ASA (NRSAF), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data is limited due to the company's OTC listing.
- AI analysis is pending and may provide additional insights.