Another ship owner is betting on Norwegian

airline NorwegianThe airline Norwegian. Photo: Norway Today Media

Shipowner and Color Line owner Olav Nils Sunde is investing over NOK 26 million in Norwegian Air, according to recent shareholder reports.

21 years after he established Color Air, the first Norwegian low cost airline, Sunde is back in the air, writes By entering Norwegian, he joins ship owner John Fredriksen, who last week himself also entered Norwegian.

In a recent shareholder review, Sundes family company O.N. Sunde A/S pops up as the airline’s 23rd largest shareholder. With 200,000 shares, the investment is therefore estimated to be worth about NOK 26.5 million.

Sunde is ranked as the country’s 19th richest person, with a fortune of over NOK 10 billion, according to Kapital. In 1998, he established the low-cost company Color Air, but the company only lasted for 13 months, after much competition against Braathens and SAS.

© NTB Scanpix / #Norway Today