May 18, 2018 / 11:20 AM / 6 days ago

IAG CEO does not see movement on Norwegian deal in coming weeks or months

DUBLIN, May 18 (Reuters) - IAG is not planning to launch a hostile bid or become involved in a bidding war for Norwegian Air Shuttle, the group’s chief executive said on Friday, adding he did not expect to make an announcement soon.

“If we do something, we are responsible and would make the required announcements, but I am not expecting to have to do anything in the coming weeks or months,” IAG CEO Willie Walsh told Reuters on the sidelines of a CAPA-Centre for Aviation conference.

Norwegian said earlier this month that it had rejected two approaches from IAG, the owner of British Airways, Iberia, Aer Lingus and Vueling, because they undervalued the company.

“This isn’t a deal I have to do. We have expressed an interest. If they don’t want to be bought by IAG, fine,” Walsh said. “I am not going to do anything hostile, that’s not my style.”

Reporting by Victoria Bryan, editing by Sarah Young

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