Norwegian Air To Buy Nordic Leisure Travel Group in $843m Bet on End-to-End Travel

Norwegian is moving beyond its airline roots with a deal to acquire Nordic Leisure Travel Group (NLTG), owner of some of the region's best-known vacation brands and hotels.

The proposed acquisition of the region's largest package-holiday operator is worth around SEK 7.94 billion (roughly $843 million) in cash and stock. It turns the low-cost airline into a vertically integrated travel group spanning scheduled flights, charter jets, tour operators, and hotels.

NLTG brings the Ving, Spies, Tjäreborg, and Globetrotter holiday brands, the 12-aircraft carrier Sunclass Airlines, the Airshoppen travel-retail platform, and 26 of its own concept hotels in Spain, Greece, Cyprus, Turkey, and Thailand. It also works with around 4,500 partner hotels.

Together, the combined group is expected to serve 30 million customers annually, operate close to 160 aircraft, and control a network reaching more than 490 routes. Norwegian says the deal will lift annual group reven