Lindblad Expeditions Holdings has acquired a majority ownership of White Desert, a luxury Antarctic company, and Echo Charlie, a new aviation travel brand providing specialized access to destinations worldwide.

A 60 percent stake in White Desert and Echo Charlie was acquired for an aggregate cash purchase price of approximately $61 million, plus approximately $6 million for cash on the balance sheet.

This is subject to customary true-up adjustments for working capital, cash and indebtedness.

Lindblad said in a press release that the strategic acquisition marks the beginning of an exciting new chapter in Antarctic travel, noting that the companies will continue to operate as a stand-alone offering.

“While this is the largest transaction in the history of the company, it is much more than a business deal—it is a powerful partnership between two businesses that have spent decades pushing the boundaries of what experiential travel can be,” said Natalya Leahy, chief executive officer of Lindblad.

Established in 2005 by Patrick Woodhead, who is the company’s founder and chairman, White Desert flies clients into the remote interior of Antarctica, including a journey to the Geographic South Pole and a visit to an Emperor penguin colony of over 20,000 birds.

The two companies see significant opportunities to expand White Desert’s offering by joining forces, with the development of camps and guest experiences and bolstering their logistical capabilities.

“Having spent the last 20 years pioneering tourism in the interior, we are privileged to join forces with people who did exactly the same thing, only 40 years earlier on the coastline of Antarctica. With a shared ethos for small-scale, responsible travel, we are thrilled for what lies ahead,” said Woodhead.

The cruise line will also support the development and growth of a brand-new offering – Echo Charlie, which uses a fully restored DC-3 aircraft to take 12 guests at a time into some of the world’s least-reached regions.

“Taking our aviation expertise beyond Antarctica, Echo Charlie’s collection of itineraries explores the far reaches of the globe, from Colombia to Patagonia, the Faroe Islands to Greenland. This is genuine adventure, made safe and accessible—the only question is where we go next,” added Woodhead.

Patrick Woodhead will serve as chairman of White Desert and CEO of Echo Charlie, while also joining Lindblad Expeditions as strategic innovation advisor.

Lindblad also raised its full-year 2026 revenue, net yield and adjusted EBITDA guidance to reflect the acquisitions.

Compared to that reported in second quarter earnings, the current expectations for the full year 2026 are as follows:

• Tour revenues: from $850 to $880 million
• Net Yield per Available Guest Night: from 5.5 percent to 6.5 percent
• Adjusted EBITDA: from $140 to $148 million