COPENHAGEN: Norse Atlantic Airways said Friday it will lease two Boeing 787-9 Dreamliners to Pakistan International Airlines, the latest move by the struggling Norwegian carrier to shore up its finances.

The agreement allows Norse to retain a key ACMI contract after IndiGo, India’s largest airline, said in July it would end its wet-lease arrangement with the Norwegian group. ACMI refers to aircraft, crew, maintenance and insurance.

Norse, facing soaring jet fuel costs, has been reducing its exposure to low-cost transatlantic services and increasing its focus on ACMI, under which it leases aircraft and crews to other airlines for a fee.

Flight operations for PIA, Pakistan’s flag carrier, are scheduled to begin in November 2026.

Norse said long-term ACMI agreements with major international airlines help shield the company from swings in passenger demand and fuel prices. The carrier added that it is in talks with other airlines about potential ACMI contracts.

Norse operates a fleet of 12 Boeing 787 Dreamliners.

The low-cost carrier began a formal process for a possible sale or merger in July.