Parent company of British Airways interested in Norwegian

LONDON — British Airways' parent company said Thursday it is considering making an offer for low-cost carrier Norwegian Air Shuttle.

International Airlines Group says in a statement Thursday that it has acquired 4.61 percent of Norwegian Air Shuttle "to establish a position from which to initiate discussions, including the possibility of a full offer for Norwegian."

IAG says "no such discussions have taken place," and the company hasn't decided whether it will make an offer.

Shares in Norwegian Air jumped 37 percent on the news.

Norwegian Air Shuttle has rocked the long-haul market with offers like 99-pound ($140) tickets from Edinburgh to New York.

In a statement, the Oslo, Norway, based company said it had "no prior knowledge of this acquisition," adding it had "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," it said.

Must Read

Harry 'constantly in trouble,' Princess Diana...

Jan 5, 2017

Letters sent by Britain's late Princess Diana _ including one in which she described a young Prince...

Prince William speaks of 'anger' when his mother...

Jan 12, 2017

Britain's Prince William has comforted a young girl who lost a parent and spoken out about his...

Duchess of Cambridge meets families at children's...

Jan 24, 2017

The Duchess of Cambridge has paid an emotional visit to a children's hospice in a village northeast...

Singer Vera Lynn to mark 100th birthday with new...

Feb 2, 2017

Singer Vera Lynn is making plans to mark her 100th birthday with the release of a new album...

Britain to mark Queen Elizabeth II's record...

Feb 5, 2017

Queen Elizabeth II is poised for another historic milestone, an unprecedented 65 years on the throne

Sign up now!