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Beskrivning

LandNorge
ListaOBX
SektorTjänster
IndustriFordon & Transport
Norwegian Air Shuttle bedriver flygverksamhet. Flygbolaget driver ett kortdistansnät över Norden och till viktiga europeiska destinationer. Norwegian är verksamt på den nordiska flygresemarknaden och bedriver kortdistansflyg från punkt till punkt inrikes och gränsöverskridande flygningar inom Norden och till nyckeldestinationer i Europa och närliggande länder. Företaget grundades 1993, startade sin verksamhet 2002 och har sitt huvudkontor i Fornebu, Norge.
2023-12-08 09:00:00
Reference is made to the stock exchange announcement on 17 November 2023, in
which the Norwegian Competition Authority (NCA) announced that it is considering
intervening in Norwegian's acquisition of Widerøe. Norwegian strongly disagrees
with the NCA's preliminary assessment and has today delivered a comprehensive
response. Norwegian is also disappointed that the majority of documentation
provided to the NCA, both written and during meetings, have not been taken into
account.

"We view the acquisition of Widerøe as being beneficial for passengers in the
domestic travel market in Norway, especially for those passengers travelling on
connecting flights. This is a segment currently dominated by our largest
competitor, which might explain why the airline in question has voiced its
opposition to the transaction. Several customers have endorsed the transaction,
and we have received strong support from employees at Widerøe and other
stakeholders, including elected officials," says Geir Karlsen, CEO of Norwegian.

Norwegian has in its response to the NCA highlighted its complementarity with
Widerøe and that the two airlines are not close competitors. Of a combined
network of over 400 routes, only two are in reality overlapping. These routes,
which are currently served by three separate airlines, represent below one
percent of Norwegian's annual ticket sales. In a consultation statement provided
in 2021, the NCA stated that based on empirical data, two competing airlines are
enough to ensure sufficient competition on a specific route. In its preliminary
statement regarding the acquisition of Widerøe, NCA has moved away from these
statements. A third-party assessment by Charles River Associates, a global
consultancy with expertise within competition economics and merger cases from
the airline industry, shows that Widerøe's presence on overlapping routes has
close to no impact on Norwegian's fares on those routes, in stark contrast to
the NCA's own assessment.

"Given the extensive dialogue and documentation we have provided, including
today's comprehensive response, I am hopeful that we have demonstrated to the
NCA that the acquisition of Widerøe will be positive for the competition for air
travel in Norway," concludes Karlsen.

The deadline for the Competition Authority's final conclusion is 3 January 2024.


For further information, please contact:
Jesper M. Hatletveit, Investor Relations, Norwegian Air Shuttle ASA Tel: +47 906
64 401


Fornebu, 8 December 2023
Norwegian Air Shuttle ASA


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.