Swedish micro-airline Novair has been sold to Dutch operator Jet Nordic Group. The airline flew a fleet of two Airbus A321neos in an all-economy layout, used for leisure charters by Apollo and Der Touristik. Novair’s pair of aircraft will join the fleet of Jettime, a Danish charter airline that is planning a relaunch.
Sold
Novair is a Swedish airline owned by tour operator firm Apollo and its parent company Germany’s Der Tourisitik, according to Aviator.aero. The carrier exclusively operates charter flights for the leisure provider, as seen by the airline’s livery, “Apollo by Novair.” The carrier has a relatively small footprint, operating only two relatively new aircraft.
Despite its small size, the airline flies an impressive 240,000 passengers every year from its hub in Stockholm Arlanda Airport. The airline also employs 120 staff for its operations, most of whom will likely retain their role under new ownership.
The airline will be sold to Denmark’s Jet Nordic Group, which operates Jettime. Jettime is an upcoming carrier that follows after the bankruptcy of Jet Time last July. The carrier has also acquired the assets of the former airline, including staff and the fleet of Boeing 737s.
Explaining the decision to purchase Novair, Jet Nordic Group owner Lars Thuesen said,
“I am buying a well-run airline that has flown Apollo’s customers for 20 years, and together with Jettime’s annual 500,000 passengers, our two companies are the basis for a strong, Nordic platform to grow from…It is necessary that we grow bigger together in the future, so that we remain relevant and can offer competitive prices and maintain the strong Nordic quality and service profile that both parties today represent.”
Good deal
For Apollo and Der Touristik, the deal is pretty sweet. The operators will enter into a strategic long-term partnership with Jet Nordic and the group can continue to charter Novair planes after the sale. While Apollo could see reduced capacity due to Jettime’s use of the aircraft, the capital boost from the sale will likely be a huge boost.
The sale will be completed in August 2021, during the peak of summer travel in Europe. Both Jet Nordic and Der Touristik are optimistic about travel this summer and are expecting a significant rebound of traffic. However, whether this materializes remains a touch-and-go depending on the number of cases in Europe and vaccine rollouts.
Critical summer
For charter airlines and tour operators across Europe, this summer is critical. If borders fail to open and travel numbers remain low, many could be facing insurmountable financial trouble. To prepare, all airlines, from TUI to Jet2 to even mainline carriers like British Airways, are planning a huge summer schedule.
There are signs that leisure travel is poised for a comeback. Countries like Greece and Spain have announced plans to allow tourists, while the UK is closing in on a new system to allow outbound leisure traffic. However, with COVID being as unpredictable as it is, a lot could change between now and July.
What do you think about Jet Nordic’s purchase? Let us know in the comments!
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