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IAG to sell its stake in Norwegian

IAG has disclosed plans to sell its Norwegian stake and confirmed that it will not be making another bid to take over the Scandinavian carrier.

In a regulatory update, the airline group says its 3.93% stake in Norwegian will be sold "in due course".

IAG purchased a 4.61% stake in Norwegian in April 2018 and made two bids to take full control of the low-cost airline later that year. But, after the failure of these bids, IAG chief executive Willie Walsh said in August that the group was considering disposal of the stake and had no plans to launch a further bid for Norwegian.

The group says its 4.61% has been diluted to 3.93% as a result of subsequent share offerings by Norwegian during the first half of 2018.

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