Skip to main content

Norwegian Air sale 'thwarted by lack of clarity on Brexit'

Air
James Chapple
4 February 2019

A credible offer for Norwegian Air fell through due to a “lack of clarity” on Brexit, boss Bjorn Kjos has said.

Norwegian

Speaking to Norwegian news website E24, chief executive Kjos confirmed the Norwegian board received an offer from a stakeholder “good enough to proceed”.


“It was supported by the board,” Kjos reportedly told the outlet.


However, the bid was delayed and eventually fell through, said Kjos, because of “market turbulence in December” and “no clarity on Brexit”.


IAG took a 4.61% stake in Norwegian in April last year with a view to a full bid for the low-cost carrier.


However, IAG reportedly ended its interest in Norwegian in August after its two preliminary bids were rebuffed. IAG last month confirmed it would now dispose of its shareholding.