DER Touristik and Apollo sell Novair

DER Touristik and Apollo have sold the airline Novair to the Denmark's Jet Nordic Group. The sale builds a strategic long-term and Nordic co-operation between the parties, and provides an opportunity for greater and clearer customer focus.

"This is a plan for the future. We believe that travel will return strongly. Now Apollo and Jet Nordic Group can put even greater resources and focus on our travelers", says Leif Vase Larsen, CEO of DER Touristik Northern Europe.

"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", says Lars Thuesen, who owns Jet Nordic Group.

With the sale, DER Touristik, Apollo and Jet Nordic Group contribute to synergy effects in the market, a sharper focus and profitability for all parties, especially during the low season.

"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", says Lars Thuesen.

Novair has approximately 240,000 annual passengers, approximately 120 employees and two Airbus 321 NEO aircraft. The sale will be completed in August 2021, and Novair will remain available to Apollo through the strategic partnership agreement.