In a surprise move, the Norwegian Competition Authority has approved the acquisition of Norway’s regional carrier Widerøe by Norwegian for 1.1 billion kroner ($107 million).
Widerøe is a long-established airline known for connecting Norway’s small, regional airports, especially in remote areas. It uses a fleet of primarily Dash-8 turboprop aircraft but has recently acquired three Embraer E190-E2 aircraft with which it serves longer routes in Norway and selected international routes, notably to and from Bergen.
This acquisition was originally announced in July but, as expected, was held up by the country’s competition authority. Just a few weeks ago, the Authority rejected the takeover based on concerns it might weaken competition in the aviation industry.
However, in a quick, surprise turnaround, the Authority reversed its decision. “Following the parties' responses, the Authority has carried out further analyzes and assessments. The inspectorate has now come to the conclusion that there are insufficient grounds to stop the acquisition,” stated the Authority in a press release.
Both Widerøe and Norwegian have struggled financially, especially after the pandemic, but have shown signs of improvement. Widerøe CEO Sten Nilsen previously said he viewed the takeover as a “positive development for the company” and told NRK the competition authority’s reversal is “the best Christmas present I could have received.”
Following the expected completion of the takeover, Widerøe will continue to operate as an independent company with its own brand and headquarters in Bodø. The acquisition is expected to offer better route options to customers, especially in the rural areas, and contribute to securing Norwegian jobs.
Although initially surprising analysts, the move makes a lot of strategic sense. Widerøe serves more than 40 small and medium-sized airports, primarily in Northern Norway and rural fjord areas.
Norwegian provides direct flights from Oslo to key Widerøe hubs such as Bergen, Trondheim, Bodø, and Tromsø, and serves more than 100 destinations in the Nordics and leisure destinations in Europe. Widerøe does serve some European destinations but generally does not compete with Norwegian.
Marianne Dobak Kvensjø, County Councilor for Transport in Nordland, expressed satisfaction with the Competition Authority's decision, viewing it as a “positive development for air passengers, particularly in Nordland.”
One visible change is likely to be a change in loyalty program. Frequent Widerøe flyers are able to collect and use EuroBonus points on certain routes, a legacy of Widerøe’s former close partnership with SAS. Although it hasn't been officially announced, the incorporation of the Norwegian Reward loyalty program
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