Norwegian rejects IAG takeover bids
IAG’s attempts to buy Norwegian Air Shuttle have stalled.
Norwegian confirmed today it has received two offers from the airline group but neither has been big enough.
In a statement issued this morning, Norwegian said it has received two separate conditional proposals from IAG Ito buy 100% of its share capital.
It said the bids were unanimously rejected on the basis that they undervalued the low-cost airline and its prospects.
IAG took a 4.6% stake Norwegian last month.
Norwegian said its Board ‘remains fully committed to delivering on its stated strategy, for the benefit of all shareholders’.
The disclosure came as IAG, parent to British Airways, Iberia, Aer Lingus, Level and Vueling, raised its profit forecast on the back of its first quarter results.
Operating profit for the three months to March 31 rose from €160 million in the previous year to €280 million, with pre-tax profit up to €246 million.
Passenger numbers grew by 8.5% to just under 23 million and capacity jumped by 4.1%, pushing revenue up 2.1% to just above €5 billion.
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.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive