What Happened
Scandinavian Airline Expands Leisure Travel Portfolio
Norwegian has acquired Nordic Leisure Travel Group (NLTG) for $843 million, expanding its leisure travel portfolio and increasing its revenue by 50%. The deal includes a fleet of 12 Airbus aircraft and 26 hotels in warm weather destinations. Norwegian plans to leverage synergies between its airline operation and the rest of the leisure travel businesses to boost profitability. The acquisition is a significant milestone for Norwegian, which has undergone a thorough restructuring since 2021. This development was first reported by AeroTime.