Norwegian Rejects Approaches From British Airways Owner
Photo Credit: A Norwegian 787-9 Dreamliner. The company has rejected approaches from IAG. Norwegian
Skift Take
Given Norwegian's financial situation, we should expect IAG's approach to have been on the low side. CEO Willie Walsh is a shrewd operator and is probably happy to wait things out rather than overpay.
Norwegian has said it has turned down two separate approaches from British Airways parent company IAG.
IAG took the aviation industry by surprise last month when it announced it had built up a 4.61 percent stake in its low-cost rival and that it was looking into making a bid for the company.
Norwegian said both bids were reviewed but “unanimously rejected” on the basis that they “undervalued [Norwegian] and its prospects”.
In a statement IAG said it had
