Norwegian acquires NLTG, creating Northern Europe's largest integrated travel group

Norwegian Air Shuttle has announced a landmark acquisition of Nordic Leisure Travel Group (NLTG), the leading tour operator in Scandinavia, for $843 million (7.94 billion Swedish kronor). This deal transcends a typical acquisition in the aviation or travel services sector, aiming to establish a fully integrated travel organization.

The newly formed entity will combine airline operations, package holidays, hotel brands, charter flights, loyalty programs, and retail travel services. It is poised to become a new European tourism champion, boasting a strong presence in the Mediterranean and a strategic focus on the Greek market, which is expected to be a core growth area in the coming years.

Upon completion, the merged group anticipates serving around 30 million customers annually. Its fleet will comprise nearly 160 aircraft across Norwegian, Widerøe, and Sunclass Airlines. This expansion will solidify its position as Northern Europe's largest integrated travel organization.

NLTG is the undisputed market leader for package holidays in the Nordic countries, with prominent brands like Ving, Spies, and Tjäreborg, alongside companies such as Globetrotter, Sunclass Airlines, and Airshoppen. The group also has a significant hotel portfolio, including 26 concept hotels operating under brands like Sunwing Family Resorts, Sunprime Hotels, and Ocean Beach Club, primarily located in Mediterranean destinations and long-haul markets like Thailand and Egypt.

Greece holds a pivotal role in the group's strategy. For decades, Ving has been a major source of Scandinavian visitors to Greece, with a strong presence on islands like Crete, Rhodes, Kos, Samos, Corfu, Zakynthos, and in regions like Halkidiki and Santorini. The existence of a dedicated company, Resorts & Hotels Greece, highlights the strategic importance of the Greek market to the Scandinavian group. In 2024, NLTG restructured its hotel portfolio, selling two emblematic tourist properties to PREMIA Properties.