Overview
- Norwegian has entered a preliminary agreement to acquire Nordic Leisure Travel Group for SEK7.95 billion, comprising SEK3.5 billion in cash and the remainder in Norwegian shares.
- The transaction includes NLTG’s Sunclass airline and a fleet of 12 Airbus aircraft made up of nine A321s, including three NEOs, and three A330-900neo widebodies.
- NLTG’s owners will receive 300 million consideration shares plus up to 30 million newly issued shares and are set to become significant shareholders in the combined group at roughly 8.9%, 8.9% and 4.4% respectively.
- Norwegian expects the combined business to lift operating revenue by about 50% and to improve operating margin by roughly two percentage points by 2027 while expanding package-holiday sales and doubling its hotel portfolio over time and extending the Spenn loyalty programme across the acquired brands.
- The deal is a preliminary agreement that still requires approval by Norwegian shareholders at an extraordinary meeting planned for early July and must clear customary regulatory and closing conditions before a planned close in the second half of 2026.