IAG To Sell Norwegian Air Stake

IAG says it will not make an offer for Norwegian Air Shuttle, and plans to sell its remaining stake in the Scandinavian low cost carrier.

British Airways and Iberia parent International Airlines Group (IAG), acquired a 4.61 percent stake in Norwegian in April 2018. It said at the time that the minority investment was “intended to establish a position from which to initiate discussions.”

IAG’s original stake has since been diluted to 3.93 per cent as a result of subsequent share offerings issued by Norwegian during the first half of 2018.

IAG announced the sale in a stock exchange statement, saying “International Airlines Group (IAG) confirms that it does not intend to make an offer for Norwegian Air Shuttle ASA (Norwegian) and that, in due course, it will be selling its 3.93 per cent shareholding in Norwegian.”