Norwegian boss has ‘not considered’ selling the airline

Norwegian boss has ‘not considered’ selling the airline

The boss and largest shareholder in low cost carrier Norwegian Air Shuttle says he has not considered selling the airline after reports of a potential bid from BA owner IAG.

IAG took a 4.6% stake in the airline last week and confirmed the investment could be a precursor to a full bid to take over the airline.

Norwegian has been the subject of speculation about its future after Ryanair boss Michael O’Leary predicted it would run out of money last year.

Despite recent issues due to its rapid expansion which has hit its share price, Norwegian is valued at £858 million.

Bjorn Kjos, founder and chief executive of Norwegian, was quoted as saying that he only recent became aware of IAG’s interest recently.

The Times quoted him as saying: “I haven’t considered anything about it. The only thing I can say is that IAG is a very professional airline and [has] very decent people.”

Kjos was reported as confirming that many firms have expressed an interest in Norwegian but that he had “not at all thought of selling”.

Meanwhile, IAG was reported to be open to selling some of Norwegian’s valuable take off and landing slots at Gatwick to gain regulatory approval for a take over.

 

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