IAG takes 4.61% stake in Norwegian

International Airlines Group (IAG) has added to its carrier investments after taking a 4.61 per cent minority stake in low-cost carrier Norwegian Air Shuttle (Norwegian).

IAG said it considers Norwegian to be an attractive investment, adding: “Minority investment is intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian.

“IAG confirms that no such discussions have taken place to date, that it has taken no decision to make an offer at this time and that there is no certainty that any such decision will be made.

“A further announcement will be made if appropriate.”

Carriers within the IAG stable include British Airways, Iberia, Aer Lingus, Vueling, and Level.

Norwegian said it has just been made aware that IAG has acquired of 4.6 per cent of the shares, but it had no prior knowledge of this acquisition before it was reported by the media mid-morning today.

The carrier added: “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.”