British Airways Owner Takes Norwegian Air Stake, Weighs Bid


Oct 29, 2003

IAG SA bought a stake in Norwegian Air Shuttle ASA and said it’s considering making a full offer for the discount competitor, signaling a new round of dealmaking in a rapidly consolidating European airline market.

A potential acquisition could value the company, which has a market value of more than $1 billion, at about $3 billion including debt, people with knowledge of the matter said, asking not to be identified because the deliberations are confidential.

IAG will use the 4.61 percent stake to initiate discussions with Norwegian, it said in a statement after Bloomberg News first reported it may make an offer. The ownership stake makes it harder for Norwegian to brush off the approach while acting as a deterrent to rival bidders.
But, do we want to strengthen an airline that can eat the lunch of every other member of OneWorld with their super cheap fares? Just a thought. Discuss.

P.S. I haven't completely ruled out the thought that they may be using slave labor for pilots and flight attendants.:eek:

Latest posts