IAG boss says Norwegian not a must-have deal, won't go hostile

IAG is not expecting to announce a deal to buy Norwegian Air Shuttle soon and would not make a hostile bid, its CE said, adding his airline group had growth opportunities on its own. Norwegian said earlier this month it had rejected two approaches from IAG, the owner of BA, 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,” IAG CEO Willie Walsh said. “I am not going to do anything hostile, that’s not my style.” He said his last contact with Norwegian was several weeks ago and he wasn’t expecting any imminent meetings. “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,” he said. When asked about other possible bidders for Norwegian, Walsh said IAG would not be drawn into a bidding war and that IAG could also grow in the low-cost long-haul area with its Level brand. “We are not going to engage in any ridiculous bidding wars ... We know what the value to us would be and that doesn’t change because somebody else expresses an interest.” Walsh also said IAG would place an order for 20-25 widebody jets at the end of this year or H1 next year, highlighting Boeing’s 777x as a contender. IAG is also in talks for additional 777-300ERs, he said, whether directly from Boeing or as second hand aircraft on lease.<br/>