IAG circles Norwegian

A potential major shake-up of air services in Europe and Transatlantic was taking shape at the weekend after rumours surfaced last week of a possible takeover by British Airways’ parent company IAG of low-cost carrier Norwegian Air Shuttle. See also COMMENT.

In what it called a response to press speculation, IAG confirmed it considered Norwegian to be “an attractive investment” and had acquired a 4.61% ownership position in the airline.

IAG said this minority investment was intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for the airline.

The IAG statement added that no such discussions had taken place to date, that it had taken no decision to make an offer at this time and that there was no certainty that any such decision will be made. A further announcement will be made if appropriate, the group said.

Norwegian said on Thursday it had not been aware of IAG's share purchase until it was reported in the media “this morning”.

The carrier said it "believes that interest from one of the largest international aviation groups demonstrates the sustainability and potential of our business model and global growth".

www.iairgroup.com

www.norwegian.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum

David Starkie, United Kingdom

See my Comment posted under the Leader item