The Norwegian Competition Authority (NCA) notified today that it is considering
intervening in Norwegian's acquisition of Widerøe. Norwegian is surprised by the
authority's reasoning and disagrees with the preliminary conclusion.
"We are surprised by the Competition Authority's decision to potentially halt
the acquisition. The dialogue with the authority has been good and constructive,
and we have submitted extensive documentation within the provided deadlines.
Based on the facts of the case, I am optimistic about the final outcome of the
application process. We will now familiarise ourselves with the Norwegian
Competition Authority's preliminary assessment before we respond to it," said
Geir Karlsen, CEO of Norwegian.
"I am very disappointed with today's notice from the competition authority. With
Norwegian, we will get a leading industrial operator based in Norway that wishes
to further develop both companies. This will ensure we continue to provide a
critical transport infrastructure to rural areas, in addition to ensuring an
attractive route offering for seamless air travel in Norway and beyond," said
Stein Nilsen, CEO of Widerøe.
Both Norwegian and Widerøe believe that a stronger aviation industry in Norway
is a prerequisite for ensuring an attractive offering for Norwegian passengers.
We are faced with a European aviation industry undergoing major change, and even
a combined Norwegian and Widerøe will become a small player in international
context.
"Our goal is to create an even better and comprehensive route offering for all
passengers, especially when it comes to seamless travels. Widerøe and Norwegian
have very few overlapping routes and complement each other with different
aircraft fleets, destinations and operations. Both companies will continue to
have bases, head offices and employees in Norway in the same way as today.
Widerøe will remain as its own brand and the company will maintain existing
agreements with other airlines," said Karlsen.
Norwegian has until 8 December to respond to today's notice. The deadline for
the Competition Authority's final conclusion is 3 January 2024. However, the
authority can close its investigation at any time before this if they find no
grounds for intervention against the acquisition. Both Norwegian and Widerøe
will continue to cooperate with the Norwegian Competition Authority and share
all relevant information with the aim of getting the transaction approved as
quickly as possible.
For further information, please contact:
Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47
906 64 401
Fornebu, 17 November 2023
Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.