Norwegian rejects takeover bid from British Airways owner

first_imgMay 4, 20180 Comments Blog Norwegian rejects takeover bid from British Airways ownercenter_img Low-cost airline Norwegian Air Shuttle has rejected two takeover offers from International Airlines Group (IAG).Low-cost carrier, Norwegian Air Shuttle, has rejected two takeover offers from British Airways owner IAG.The news initially sent shares in Norwegian down 10%, before recovering slightly.In contrast, IAG’s share price rose 5.6% after reporting a 75% jump in profits in the first three months of the year.Last year, IAG acquired a 4.6% stake in Norwegian with the intention to initiate discussion regarding a full offer for the firm.However, IAG has so far failed to reach an agreement with the Oslo-based carrier.In a statement IAG said: “IAG confirms that it has had contact with the Norwegian board regarding a possible offer, without reaching an agreement.“IAG is currently considering its options in relation to Norwegian.”British Airways has been accused of turning itself into a budget operator in recent years.last_img read more

"Norwegian rejects takeover bid from British Airways owner"