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Norwegian Enters Agreement to Acquire Widerøe for US $105 Million

Norwegian Air Shuttle has today announced that they have entered into an agreement with WF Holding AS to acquire the Norwegian regional carrier Widerøe. The acquisition will offer customers more choices, while strengthening the workplaces of both airlines.

Norwegian Air Shuttle to Acquire Widerøe for NOK1.125 Billion (US $105 Million) - Courtesy Norwegian Air Shuttle

On Thursday (July 6, 2023), Norwegian Air Shuttle announced that they have entered into an agreement with WF Holding AS to acquire the Norwegian carrier Widerøe. Customers from Norway will benefit from increased connectivity between Widerøe’s extensive regional network and Norwegian’s national and international routes. Widerøe serves over 40 small and medium-sized airports across Norway, and also flies to some major European airports, while Norwegian operates over 300 routes to 14 destinations in the Nordics and Europe. The agreed purchase price for shares in Widerøe is NOK 1.125 billion (US $105 million).

In Thursday’s announcement, Norwegian’s CEO, Geir Karlsen, said,

“This is a milestone in Norwegian aviation history. We are two Norwegian airlines that have lived side by side for many years and together we know the aviation market very well. We will now together create an even better and comprehensive offer for all our passengers, and we look forward to customers being able to travel both easily and consistently on our route networks.

“The agreement ensures an even better offer for passengers in Norway and facilitates a more efficient operation that lays the foundation for a strong Norwegian aviation industry with Norwegian workplaces and good working conditions. Together with Norwegian travel industry companies, the two companies can have greater opportunities to develop tourism in Norway. We will ensure that all passengers receive a complete offer, including our attractive Norwegian Reward loyalty program.”

Also commenting on the landmark acquisition agreement, Widerøe’s CEO, Stein Nilsen, said,

“Widerøe has a nearly 90-year history and we are the guarantor of a regionally functioning line network in Norway. Although we have made a solid footprint in Norway, we are smaller in international contexts. Very high fees in Norway combined with tough international competition make it difficult for a small regional airline to manage without a strong partner. We are therefore very happy to have found a way forward together with Norwegian and that we are getting an industrial owner who wants to develop the companies further. We are convinced that this solution is the best for Widerøe, for our employees and not least for our customers.”

The two airlines have a few overlapping routes and others that complement each other well. Out of a total 107 Norwegian routes, Widerøe operates 85 and Norwegian operates 22. There are only five overlapping routes and they are all serviced with standard jet aircraft.

Widerøe is Norway’s oldest aviation group and is headquartered in Bodø in Northern Norway. The company also has an administrative office in Oslo. The Group consists of the subsidiaries Widerøe`s Flyveselskap AS, Widerøe Ground Handling AS, Widerøe Technical Services AS, Widerøe Zero AS, Widerøe Property AS and Widerøe Asset AS, and employs 3,500 dedicated team members. The carrier operates a fleet of nearly 50 aircraft and has a market share of approximately 20 percent on Norwegian domestic routes in terms of the number of passengers. Under the agreement, Widerøe will still operate its own airline and brand and maintain their Bodø headquarters.

Source: Norwegian Air Shuttle/Mynewsdesk


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