British Airways owner IAG weighs takeover offer for Norwegian Air

British Airways owner IAG weighs takeover offer for Norwegian Air

British Airways' parent company says it is considering making an offer for low-priced carrier Norwegian Air Shuttle.

IAG has been scouting for potential acquisitions in Europe and while the United Kingdom firm has set its sights on Norwegian Air, it has previously looked at targets including Spanish airline Air Europa Lineas Aereas, the people said.

Norwegian shares rose by 40% in early trading upon the news. The shareholding "is meant to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian".

IAG said it considers Norwegian to be an "attractive investment".

Muslim TV personality Yassmin Abdel-Magied deported from US
During the exchange, Abdel-Magied called Islam "the most feminist religion". 'Oh, they still have my passport, ' she said. Abdel-Magied was in the give speeches at the PEN America World Voices Festival in NY next week.

Facebook CEO Mark Zuckerberg testifies before House committee
If you chose to link an outside app to your Facebook account, make sure you research the company is and how they might use your data.

Georgian PM congratulates Ilham Aliyev on re-election as Azerbaijani president
Monitors, including the Organisation for Cooperation and Security in Europe, were watching the vote. Mr Aliyev has led the country since 2003, when he succeeded his father.

Adding Norwegian would jolt IAG's foray into low-priced, long-haul service into hyperdrive. The company said it had "no prior knowledge of this acquisition" and "has not been in any discussions or dialogue with IAG about the matter". Kjos developed it from being a shuttle service on Norway's West Coast into a domestic carrier with lower fares and far fewer passenger amenities than those offered by arch rival Scandinavian Airlines (SAS). Representatives for Norwegian Air declined to comment.

Germany's Lufthansa and EasyJet expressed interest in Italy's struggling Alitalia this week.

"Everybody in Europe wanted to buy us", Norwegian Air's 71-year-old CEO, Bjorn Kjos, said in an interview this month. "If you decide to sell, that is when you take in other investors, but that has not been on our agenda at all".

IAG, which also owns Iberia, Aer Lingus and Vueling, confirmed suspicions that the purchase signalled a broader interest in acquiring the company.

Related Articles