IAG says it is considering an offer on Norwegian Air Shuttle

International Airline Group (IAG) said on Thursday it was considering an offer on the Norwegian low-cost Norwegian Air Shuttle.

The parent of British Airways and Iberia states that it has taken a 4.61% stake in Norwegian Air and intends to open a dialogue with the Norwegian airline, including the possibility of making a full bid on it.

“IAG confirms that no such discussion is ongoing at this date, that it has not taken any decision to make an offer at this stage and that there can be no assurance that such a decision is made,” says IAG in a statement.

IAG already owns Spanish low-cost carrier Vueling as well as Spanish budget long-haul operator Level.

The Oslo Stock Exchange has suspended trades on the Norwegian stock and is studying movements in its stock price. Norwegian‘s share price has risen by more than 20% during 12 April trading.

Norwegian commented as follows:

Comment on IAG’s acquisition of Norwegian shares

Norwegian has just been made aware that the International Airline Group (IAG) has acquired of 4.6 percent of the shares in Norwegian Air Shuttle ASA. Norwegian had no prior knowledge of this acquisition before it was reported by the media mid-morning 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 aviation groups demonstrates the sustainability and potential of our business model and global growth.

The company has no further comments at this stage.