Industry IAG considers bid for Norwegian
According to aviation media, International Airlines Group (IAG) is considering buying low-cost carrier Norwegian Air Shuttle.
IAG has denied in a statement that it plans to fully acquire the carrier.
However, it has acquired 4.6 % shares in Norwegian Air Shuttle ASA.
IAG said: “This minority investment is intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian.”
The investment will be used by IAG to initiate discussions with the airline. Shares of Norwegian Air increased to a record of 47 percent.
IAG has confirmed that no discussions over a full takeover have taken place to date. The group has not taken a decision to make an offer.
Norwegian confirmed as well that there were no negotiations or dialogue with IAG about the matter. The Norwegian carrier said that IAG´s interest demonstrates the sustainability and potential of the business model.
IAG was created as a merger of British Airways and Iberia in 2010. In 2015, the group bought Ireland´s Aer Lingus. Further subsidiaries are IAG Cargo, LEVEL, Vueling and Avios Group. IAG is being owned by Qatar Airways, who hold a 20.01% stake.
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