The legendary Norwegian coastal cruise line Hurtigruten is saved. In a press release of 28 November the company announced it was bought by existing investors and got a capital injection of EUR 110 million.
“Hurtigruten will continue as a standalone company, headquartered in Oslo, Norway and Hurtigruten will own and operate its 10 ships under the Norwegian flag,” the press release reads.
The cruise line has been in trouble ever since Covid-19 hit Scandinavia in the beginning of 2020. The company saw its debt rising to EUR 1.4 billion. The press release: “The (purchase) transaction will significantly reduce outstanding debt of the company and its parent group (…), resulting in remaining debt of approximately EUR 400 million, and extending the maturities to at least 2030.”
According to the company the passenger bookings are up by 24 percent this November compared to a year earlier. Hurtigruten started as a mail delivery line about 130 years ago, and still today it is often the easiest way to reach some of Norway’s remote locations deep into its fjord rich coastline. About 2,000 people work for the Hurtigruten company. | © 2024 Marcel Burger, nordicreporter.com. Featured photo: Hurtigruten ferry MS Trollfjord at the quay of Honningsvag in Finnmark, Northern Norway, February 2024.