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Planes. Norwegian refuses purchase offers from IAG

The potential of the Norwegian carrier underestimated

The Board of Directors of Norwegian Air Shuttle (NAS) confirms today that it has received two different conditional purchase proposals from the IAG Group (International Consolidated Airlines Group, an Anglo-Spanish multinational holding company created on 21 January 2011 from the merger of flag carriers of the UK and Spain. In addition to British Airways and Iberia, the Group is also formed by several subsidiaries and affiliates such as the other Aer Lingus franchises, BA CityFlyer, British Midland International, Bmibaby, Vueling and Iag Cargo).

The proposals put forward by the Group concern the acquisition of 100% of the share capital of NAS. The offers -a note issued by the Norwegian carrier specified it- were screened by partisan financial and legal advisors, and were rejected unanimously on the basis of the fact that in both the potentials of the airline were undervalued.

The Board of Directors of NAS remains committed to pursuing the strategy established for the benefit of all shareholders, the note concludes.

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