News

Norwegian Air Rejects IAG 100% Acquisition Proposals

Norwegian Air Rejects IAG 100% Acquisition Proposals

The Board of Norwegian Air Shuttle (NAS) has confirmed that it has received two separate conditional proposals from IAG Group in relation to an acquisition of 100% of the share capital of NAS – but says both undervalue the airline.

A statement by the Board said: “These proposals were reviewed in conjunction with NAS’s financial and legal advisers, and were unanimously rejected on the basis that they undervalued NAS and its prospects. The Board of NAS remains fully committed to delivering on its stated strategy, for the benefit of all NAS shareholders.”

When asked about a possible deal during IAG’s quarterly earnings call on Friday 4th May, IAG Chief Executive Willie Walsh said: “I am not saying anything about Norwegian.”

Earlier, Akbar Al Baker, Chief Executive of Qatar Airways, which owns a 21% stake in IAG, had said: “Qatar Airways will always support IAG in anything they do because it is a business in which we have a strategic interest. Whatever they do to expand their business it has been thought after well and we will support them.”

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, editor and proofreader for 53 years, and ITTN's News & Features Editor for 43 years. His travel blog is at www.thetravelbuddhist.com.

More in News

Princess Cruises Announce (ex UK) Short Coastal Cruises

Sharon JordanMarch 3, 2021

AWTE Partner with LIFT Ireland – Join the Call!

Sharon JordanMarch 3, 2021

New leadership for TTC Touring Brands in the UK and Ireland

Sharon JordanMarch 3, 2021

The Polls Have It: Your Opinions Are In

Fionn DavenportMarch 3, 2021

Equality and Human Rights Commission Slams Pontins for Anti-Irish Memo

Fionn DavenportMarch 3, 2021

Women in Leadership at Preferred Hotels: How to Achieve an Equal Future in a Post-Covid World

Fionn DavenportMarch 3, 2021

G Adventures Launches New Active Travel Campaign With Discounts & Giveaways for Agents

Fionn DavenportMarch 3, 2021

Ryanair Pledges Support for Sustainable Aviation Fuel

Fionn DavenportMarch 3, 2021

Cycle for Sustainability…And A World Record

Fionn DavenportMarch 3, 2021

Copyright © 2021 ittn