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Scorpio builds 10% stake in Norwegian low cost airline

Photo; Norse Atlantic Airways B787-9 OE-LNM Landing.jpg
A cargo airline has become must have for top container lines, but tanker and offshore wind vessel owner Scorpio Holding is building a significant stake in a low cost carrier

In a disclosure to the Oslo Stock Exchange by Norse Atlantic it said that Scorpio Holding was now a 10.17% shareholder in the airline.

It’s a new area for Scorpio Holdings which is known for its US public-listed shipping companies Scorpio Tankers and Eneti, a player in the offshore wind sector and previously bulk carrier owner Scorpio Bulkers.

Norse Atlantic Airways, based in Arendal, Norway, is low cost long haul carrier focused on transatlantic routes and launched in 2021.

The airline was reported recently by the American Journal of Transportation to be aggressively marketing bellyhold cargo space. Whether Scorpio’s latest move is anything more than a financial investment remains to be seen.