SINGAPORE, 7 July 2026: Norwegian has agreed to acquire Nordic Leisure Travel Group (NLTG), the leading hotel and leisure travel experiences company in the Nordics.
The transaction brings together household names and award-winning brands such as Ving, Spies, Tjäreborg, Globetrotter, and Sunclass Airlines with Norwegian and Widerøe, creating a stronger end-to-end Nordic travel player.
The acquisition combines NLTG’s expertise in packaged travel and hotels with Norwegian and Widerøe’s existing network with 27 million passengers. Together, the combined company will create a leading Nordic provider of leisure and business travel. For travellers, this means a wider selection of destinations, simpler bookings, and seamless travel.
The agreement will unite Norwegian, Widerøe, and NLTG under a single ownership structure, creating a vertically integrated travel group in the leisure and business segments. The addition of a new hotel and leisure experience business with its own brands will enable Norwegian, Widerøe and NLTG to develop distinct value drivers, while benefiting from strong group coordination to optimise performance and deliver enhanced customer value.
The group will be able to offer everything from individual flights across Norwegian’s and Widerøe’s extensive route networks to complete holiday packages with Ving from Norway and Sweden, Spies from Denmark, Tjäreborg from Finland, and Globetrotter. This leading, integrated Nordic travel group will encompass close to 160 aircraft and extensive tour and hotel operations, serving approximately 30 million customers every year. Included in the acquisition are NLTG’s profitable own-concept hotels in Spain, Greece, Cyprus, Thailand and Türkiye, which will now benefit from a steady stream of customers from an expanded network of groups. The transaction is expected to increase annual group operating revenue by close to 50%.
“This transaction will secure Nordic ownership of NLTG and deliver a more comprehensive product for all current and new customers of Norwegian, Widerøe and NLTG,” said Norwegian CEO Geir Karlsen.
Sunclass Airlines, NLTG’s subsidiary airline, operates a fleet of 12 medium- and long-haul Airbus aircraft. The Sunclass, Norwegian, and Widerøe networks have limited overlap. Norwegian’s close to 390 routes are concentrated on scheduled traffic to key destinations in the Nordics, Europe, and nearby countries. At the same time, Sunclass operates to approximately 25 destinations focused on leisure charter, enabling improved utilisation and increased coverage when routes are coordinated within the combined group. NLTG also operates its own travel retail platform, Airshoppen, whose growth and development strategy will be strengthened within the enlarged group.
The consideration for the acquisition is approximately SEK7.94 billion, comprising a cash component of SEK3.5 billion and 300 million consideration shares in Norwegian kroner, based on the latest 5-day average share price (VWAP) of NOK 14.95 and the SEK/NOK exchange rate of 1.01. In addition, up to 30 million additional shares payable to be determined during the fourth quarter of 2026
(Source: Norwegian)
