British Airways parent IAG eyeing a bid for Norwegian Air

Norwegian Air carries more than 30 million passengers a year

Norwegian Air carries more than 30 million passengers a year

International Airlines Group (IAG) has confirmed it has taken a minority stake in low-priced carrier Norwegian, in what could eventually lead to a full offer for the airline.

Aviation giant IAG, which owns British Airways, has confirmed that it is keen to enter talks with Norwegian about a potential takeover deal. However, referring Norwegian's considerable investments in new aircraft, Kjos says he wouldn't consider selling his airline until that strategy has started paying off. IAG now owns 4,6 percent of Norwegian, a stake it may have bought in order to initiate discussions, the sources said.


IAG says "no such discussions have taken place", and the company hasn't decided whether it will make an offer. The airline did not immediately comment on the IAG plans.

By that time, Norwegian's share had jumped 18 percent fromWednesday's closing price. Since launching its first long-haul services in 2013, the airline has become a major player in the transatlantic aviation business, offering low-priced fares to the US. 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". Ryanair's CEO Michael O'Leary has said he has no plans to expand Ryanair's operations across the Atlantic but the airline has been in talks with Norwegian about a possible partnership that would see Ryanair piggyback on Norwegian's long-haul routes.

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