International Airlines Group (IAG) who own British Airways has announced they will not make another bid to buy Norwegian Air.
Norwegian Air share price fell by 26 per cent after the announcement, chairman, Bjørn Kise said, “We have been made aware of IAG’s intentions to sell its shares in Norwegian Air Shuttle ASA.
“Norwegian’s plans and strategy remain unchanged.
“The company’s goal is to continue building a sustainable business to the benefit of its customers, employees and shareholders.”
IAG said in a statement to the market today, “IAG confirms that it does not intend to make an offer for Norwegian Air Shuttle ASA and that, in due course, it will be selling its 3.93 per cent shareholding in Norwegian.”