Welcome to the fifteen edition of "In Touch." As always, I would love to continue the conversation so please hit "reply" and let me know what you think.
When Opportunity Knocks
Where most people saw doom and gloom in the aviation industry, Bjørn Tore Larsen saw – and seized – opportunity. With the estimated revenue losses – due to the pandemic - of airlines across the world in 2020 being US$370 billion, Bjørn created Norse Atlantic Airways, a new low-cost, long-haul airline. Taking advantage of the falling demand for large passenger aircraft, he was able to buy a fleet of modern, fuel-efficient and more environmentally friendly Boeing 787 Dreamliners at very attractive prices. He was also fortunate to be able to find and employ experienced pilots who were longing to go back to work.
What cannot be disputed is the fact that every crisis gives rise to some kind of opportunity. Bjørn Tore Larsen is well on his way on proving that and my prediction for Norse Atlantic Airways and Bjørn Tore Larsen’s plan – and please keep an eye out for this one – is that they will thrive.
They will thrive because of four (4) reasons:
- They have a simple and direct mission (“Get ready for low cost transatlantic flights”) and a clear timetable (by the second quarter of 2022 at the latest)
- They have attractive offerings (65% larger windows, in-flight WiFi, USB charging, fresher less dry air, etc.)
- They respect their people (“The company’s employees will be permanently employed by the airline.”)
- The major shareholder has an exciting story (from acquiring a travel agency at 18 to leading a 16,000-employee company). A story is more inspiring and more relatable than the usual “About us” section of a company website.
As the pandemic continues to affect our lives, will you give up or will you be able to spot the waiting opportunity and take advantage of it?
Words of Wisdom
Preparation vs. Reality:
"Good luck is when opportunity meets preparation, while bad luck is when lack of preparation meets reality."
Israeli business management guru
The flood of disaster vs. The flood of hope:
“The same flood that that destroyed the whole world at the time of Noah, is the same flood that lifted the ark.”
Dr. Theophilus A. Ajadi
A Question to Ponder, dear reader.
“When was the last time you turned a crisis into an opportunity?”
Hit reply and let me know what you believe.
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Michael R. Virardi