newstodate.aero
Apr 13, 2018 (newstodate): Not least the heated low-cost competition over the Atlantic Ocean has led to IAG taking a stake in the carrier Norwegian that has introduced a series of flight opportunities at rock-bottom rates.
As it emerged that IAG has taken a 4.61 percent stake in Norwegian, the carrier was quick to declare that it had no prior knowledge of IAG's acquisition in the company, nor had it been in any discussions with IAG concerning ownership.
On its part, IAG also issued a statement that it considers Norwegian to be an attractive investment.
-The minority investment is intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian.
-IAG confirms that no such discussions have taken place to date, that it has taken no decision to make an offer at this time and that there is no certainty that any such decision will be made, the release read.
Norwegian now performs flights from London Gatwick Airport to 11 destinations in the USA, and in 2017 Norwegian also opened low-cost flights from Edinburgh, Belfast, Dublin, Cork and Shannon to destinations on the US East Coast.
This competition has forced IAG comprising airlines Aer Lingus, British Airways, Iberia and Vueling to introduce similar new low-cost rate structures to battle against Norwegian's offerings in the booming market.
As it emerged that IAG has taken a 4.61 percent stake in Norwegian, the carrier was quick to declare that it had no prior knowledge of IAG's acquisition in the company, nor had it been in any discussions with IAG concerning ownership.
On its part, IAG also issued a statement that it considers Norwegian to be an attractive investment.
-The minority investment is intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian.
-IAG confirms that no such discussions have taken place to date, that it has taken no decision to make an offer at this time and that there is no certainty that any such decision will be made, the release read.
Norwegian now performs flights from London Gatwick Airport to 11 destinations in the USA, and in 2017 Norwegian also opened low-cost flights from Edinburgh, Belfast, Dublin, Cork and Shannon to destinations on the US East Coast.
This competition has forced IAG comprising airlines Aer Lingus, British Airways, Iberia and Vueling to introduce similar new low-cost rate structures to battle against Norwegian's offerings in the booming market.