Lufthansa is in contact with Norwegian Air Shuttle, also the subject of bid interest from British Airways owner IAG, the German group’s chief executive told a German daily, sending Norwegian’s shares higher.
“In Europe, everyone is talking to everyone. There’s a new wave of consolidation approaching. That means we are also in contact with Norwegian,” Carsten Spohr was quoted as saying by Sueddeutsche Zeitung on Monday.
Asked whether Norwegian would fit with the Lufthansa group, Spohr said: “Takeovers are always a question of strategic value, the price and anti-trust. There are no easy answers.”
Since IAG announced it had bought a stake in April, Norwegian Air has said it has received enquiries from several parties regarding acquisitions, transactions and other forms of cooperation.
Norwegian Air's shares opened 10 percent higher in Oslo and by 0745 GMT traded 8.9 percent higher at 271.00 crowns. Lufthansa shares were up 0.6 percent, outperforming a 0.5 percent weaker DAX .GDAXI index.
Norwegian Air was not immediately available for comment.
After the failures of Air Berlin and Monarch last year, airline executives have predicted more consolidation this year in Europe, especially as rising oil prices make life tougher for carriers with weaker finances.
Spohr told Reuters earlier this month that Lufthansa would grab more takeover opportunities if they arose and that carriers were all in contact with each other.
After taking over parts of Air Berlin last year and acquiring the remaining stake in Brussels Airlines to expand its Eurowings brand, Lufthansa has also eyed Alitalia, though the sale process is being held up by political turmoil.
Lufthansa had previously been interested in Scandinavian carrier SAS (SAS.ST), but two years ago said it had decided not to invest.
IAG’s CEO has said that he will not engage in a bidding war for Norwegian, repeating to shareholders last week that Norwegian was not a deal the group had to do.
Latest Stories
-
We’ll revert to you soon – CHRAJ to Ablakwa over sale of SSNIT hotels to Bryan Acheampong
17 mins -
Atsiame Chiefs call for peaceful co-existence among traditional areas in Anlo State
36 mins -
Work progresses on the 33Kv transmission line upgrade project in Kumasi
55 mins -
New artiste Fred Kobby unveils debut single
57 mins -
Exploring Ghana’s curtain business with Aducraft Curtains
1 hour -
NPA increases price floor for diesel to GH₵13.15; petrol reduced to GH₵13.60
1 hour -
Okyenhene launches 25th-anniversary celebration on accession to Ofori Panin Stool
1 hour -
Liverpool appoint Slot as manager to replace Klopp
1 hour -
HosnyNova’s ‘Sugar Daddy’ song set to dominate the charts
2 hours -
Make no mistake; Ghanaians are not gentle – Archbishop Duncan-Williams warns politicians
2 hours -
I’ve nothing to show for my work as music producer – Quick Action
2 hours -
Mental health screening as crucial as medical check-ups – Clinical psychologist
2 hours -
Dr Appau calls for urgent mental health awareness and integration in Ghana
2 hours -
‘Ghost names’ in Northern Region paid GH₵2.8m in salaries – OSP, CADG Report
2 hours -
Ghanaian government defends a proposed tax on big tech revenues
2 hours