, Columnist
British Airways Could Just Call Norwegian's Bluff
Budget airline’s shares have been flying on deal fumes.
Something in the air.
Photographer: John Springer Collection/Corbis HistoricalThis article is for subscribers only.
Even without knowing the details of IAG SA’s offer to acquire Norwegian Air Shuttle ASA, it’s little surprise that the budget transatlantic carrier has rejected it.
IAG boss Willy Walsh, a pretty canny operator, would have been aware that trying to buy Norwegian wouldn’t be easy given its odd governance and shareholder structure. But it’s hard to see at this point how British Airways-owning IAG and Norwegian might settle on a fair price. Walsh should pause to reassess, and maybe the savviest option is to leave Norwegian to settle its own fate.