British Airways Parent Looking at Buying Norwegian
Skift Take
Wow. Not many people will have seen this coming, including, it seems, Norwegian. Adding another brand to IAG's growing portfolio might make strategic sense but it will come at a significant cost.
British Airways-owner IAG has built up a 4.61 percent stake in rival Norwegian and wants to start discussions about a potential takeover offer.
Although no talks have yet taken place, IAG’s eagerness indicates that an acquisition is a possibility but the airline group, which includes Iberia, Aer Lingus and Vueling, said that at the moment there was no concrete offer on the table.
Norwegian said it was unaware of the share acquisition but that the approach demonstrated the "sustainability and potential" of its business model.
The shock move is likely the start of a long-running battle, pitting combative IAG CEO Willie Walsh against the affable Bjorn Kjos, his counterpart at Norwegian.
What Is IAG Playing At?
Norwegian has enjoyed a remarkable — although
