IAG eyes Norwegian takeover
British Airways parent International Airlines Group (IAG) has confirmed it is considering an acquisition of low-cost carrier Norwegian.
It issued a statement responding to recent press speculation.
"IAG considers Norwegian to be an attractive investment and has acquired a 4.61 per cent ownership position in Norwegian (minority investment)," the statement said.
"The minority investment is intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian.
"IAG confirms that no such discussions have taken place to date, that it has taken no decision to make an offer at this time and that there is no certainty that any such decision will be made.
"A further announcement will be made if appropriate."
Norwegian said it had no prior knowledge of the acquisition before it was reported earlier on Thursday.
"Norwegian has not been in any discussions or dialogue with IAG about the matter. Norwegian believes that interest from one of the largest international groups demonstrates the sustainability and potential of our business model and global growth," it said in a statement.
Norwegian’s shares closed 47% higher after the news broke but IAG’s fell 1.2%.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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