The Norwegian government has sold its remaining 6.26% stake in Norwegian Air Shuttle ASA, marking a major milestone in ending its financial involvement with the airline. The transaction, announced on June 4, 2025, involved the sale of 65.58 million shares at 13.60 Norwegian kroner each, amounting to 892 million kroner — approximately £68.9 million (converted from US$87.8 million). This price represents a 3.3% discount compared to the previous day’s closing price on the Oslo Stock Exchange.

The government’s stake originated from a NOK 1.21 billion (£93.5 million) convertible loan extended to Norwegian Air in May 2021, aimed at supporting the airline during its pandemic-driven restructuring. Trade and Industry Minister Cecilie Myrseth emphasized that the state never intended to remain a long-term shareholder in the company.

Despite the sale, the government retains bonds in Norwegian Air, which are scheduled for repayment in 2025 and 2026. In total, the state reported a profit of over NOK 500 million — approximately £38.6 million — from its involvement with the airline.

Norwegian Air Shuttle ASA, known for its budget-friendly services, is Scandinavia’s second-largest airline and the fourth-largest low-cost carrier in Europe. The company underwent extensive restructuring during the COVID-19 pandemic, including halting its long-haul operations and refocusing on short-haul European routes.

The government’s exit from Norwegian Air is part of a broader strategy to reduce state involvement in commercial ventures while maintaining support for key industries during times of crisis.