Friday 14 December 2018

Aer Lingus owner IAG says it may launch a full bid for Norwegian Air

Photo: Bloomberg
Photo: Bloomberg Business Desk Business Desk

Aer Lingus owner IAG has said it may launch a full takeover bid for Norwegian Air Shuttle ASA, best known for its low cost transatlantic routes.

IAG, headed by Willie Walsh, said in a statement that it has acquired a 4.61pc stake in stock market listed Norwegian Air and considers it an attractive investment.

"The 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 said.

To date, no such discussions have taken place, and nor has a decision to make an offer, IAG said.

Earlier this year Norwegian said that it was scaling back transatlantic routes from Shannon and Cork is a blow to tourism interests in the west and southwest.

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