The Norwegian government, represented by the Norwegian Ministry of Trade, Industry, and Fisheries, has sold its remaining stake in the country's low-cost carrier Norwegian for 892 Norwegian krone ($88.7 million).
The state sold approximately 65.6 million shares at 13.60 crowns each, which equals approximately 6.26% of the company's outstanding shares, Norwegian said in a statement on June 4, 2025.
Trade and Industry Minister Cecile Myrseth said the state has been clear from “day one” it did not wish to be a “long-term player” in the airline.
In 2021, the state issued a 1.21bn crown convertible loan to the carrier as it underwent reconstruction, which the airline is due to repay this year and in 2026.
The proceeds will go to the state and Norwegian will not receive any proceeds of the sale.
Nordea Bank, filial i Norge, and Pareto Securities acted as joint managers and joint bookrunners in the offering. Wikborg Rein Advokatfirma acted as legal counsel to the state.
In addition, the airline reported it carried a total of 2.5 million passengers in May across Norwegian and its subsidiary Wideroe. Norwegian's load factor was up 1.5 percentage points to 83.6%, while its capacity was up 3% in the month. Wideroe's capacity was up 8%, though its load factor was down 0.8 percentage points to 68.6%.
The company said it had “strong booking momentum” going into the summer period.
“Norwegian is well-prepared for a very good summer for our customers… the booking momentum for the summer months remains strong with approximately 300,000 more seats sold than during the same period last year,” said Norwegian CEO Geir Karlsen.