Norwegian now also selling package holidays

Norwegian is expanding its business beyond selling flight tickets by acquiring the Nordic Leisure Travel Group (NLTG), a move that integrates popular tour operators like Spies, Ving, and Tjæreborg into the airline's operations. This strategic acquisition aims to establish the combined entity as the leading provider of single and package travel in the Nordic region.

Geir Karlsen, Group CEO of Norwegian, stated that the integration of NLTG's strong position in holiday travel with Norwegian's extensive route network will create a more comprehensive and flexible customer offering. He sees significant potential in leveraging the existing customer base to increase sales of hotels and holiday experiences, effectively turning every flight into a gateway for a complete vacation.

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By adding Nordic Leisure Travel Group's leading position within holiday travel to the Norwegian Group's extensive route network, we are building a better and more flexible customer offering.

The transaction is valued at approximately 8 billion Swedish kronor (about 5.45 billion Danish kroner). The previous owners of NLTG, including private equity funds Altor and TDR, along with Norwegian hotel magnate Petter Stordalen, will receive a cash payment of 3.5 billion Swedish kronor, as well as equity stakes in the newly formed Norwegian group.

This acquisition signifies Norwegian's ambition to offer a more integrated travel experience, combining air travel with a wide array of holiday packages and services. The move is expected to enhance customer convenience and potentially boost revenue streams by capturing a larger share of the travel market.

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We see significant potential to increase sales of hotels and holiday experiences across our existing customer base and to make each flight a potential gateway to a complete holiday experience.