IAG to sell Norwegian Air stake
British Airways owner IAG has pulled out of the race to buy budget long-haul carrier Norwegian Air Shuttle.
FTSE 100
8,201.56
11:20 05/11/24
n/a
n/a
FTSE 350
4,520.25
11:20 05/11/24
n/a
n/a
FTSE All-Share
4,477.27
11:20 05/11/24
n/a
n/a
IBEX 35
11,831.20
18:44 04/11/24
0.22%
26.10
International Consolidated Airlines Group
€2.54
18:16 04/11/24
-0.24%
-€0.01
International Consolidated Airlines Group SA (CDI)
213.50p
11:20 05/11/24
-0.09%
-0.20p
Norwegian Air Shuttle Asa
1,014.50p
15:20 04/11/24
-10.26%
-116.00p
Travel & Leisure
8,156.12
11:19 05/11/24
0.17%
13.53
The Anglo-Iberian giant confirmed on Thursday that it "does not intend to make an offer for Norwegian".
The FTSE 100 group added that it will sell its 3.93% stake in Norwegian in due course. The stake has previously been as much as 4.6%.
Willie Walsh, chief executive of the BA and Iberia owner, said last August that the company remained interested in the low-cost, long-haul carrier after two failed approaches earlier in year.
Walsh had earlier said IAG does not need to do a deal and that he did not want to lodge a hostile bid.