Norwegian Air Shuttle today confirmed that it has rejected two separate take over bids from British Airways owner International Airlines group.

The disclosure follows IAG taking a 4.6% stake in the Scandinavian low-cost carrier in April.

A statement issued by Norwegian as IAG reported a jump in first quarter profits revealed that two acquisition offers had been made,

No details of the sums involved were given.

Norwegian Air Shuttle (NAS) said: “These proposals were reviewed in conjunction with NAS’ 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.”

Norwegian had previously said that “several inquiries” had been made about the airline after IAG originally indicted its interest in making a takeover bid.