Oslo, July 7 The Norwegian, Norway's largest airline and the second-largest in the Nordic region, has announced its plan to acquire Wideroe, the country's biggest regional airline, for $104.5 million, pending regulatory approval.
During a joint press conference on Thursday, representatives from both airlines expressed their belief that the acquisition would bring positive benefits to air passengers, particularly through integrated travel services, reports Xinhua news agency.
Geir Karlsen, CEO of Norwegian, described the deal as a significant milestone in the country's aviation history.
He emphasised the creation of a streamlined and comprehensive offering for all customers while eagerly anticipating the opportunity to provide seamless travel experiences across their entire route networks.
Karlsen highlighted that the two airlines have minimal overlap in their respective routes, making them complementary.
Under the agreement, Wideroe will continue operating as a separate entity with its own brand, organisation and headquarters in Bodo, a northern city in Norway.
Stein Nilsen, CEO of Wideroe, expressed his satisfaction with the acquisition, saying that Wideroe's nearly 90-year history has made it a reliable provider of regional air services in Norway.
As Norway's oldest aviation group, Wideroe serves over 40 small and medium-sized airports across the country, in addition to several larger European airports.
The Norwegian Competition Authority will review and decide on the approval of the acquisition.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor