IAG International Airlines Group has confirmed it intends to open talks with Norwegian (DY, Oslo Gardermoen) over a possible takeover.

In a disclosure, the European carrier conglomerate described Norwegian as an "attractive investment". It added that its recent acquisition of a 4.61% stake in the Scandinavian low-cost carrier is intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer.

"IAG confirms that no such discussions have taken place to date, that it has taken no decision to make an offer at this time and that there is no certainty that any such decision will be made," it added.

Commenting on the development, Norwegian confirmed that it had no prior knowledge of IAG's designs on the company while adding that "interest from one of the largest international aviation groups demonstrates the sustainability and potential of our business model and global growth."

Norwegian operates across several AOCs which, aside from its Norway-based operations, include Norwegian UK, Norwegian Air International (Ireland), and Norwegian Air Argentina. For its part, IAG operates LEVEL, Iberia, and Vueling Airlines in Spain, British Airways in the United Kingdom, and Aer Lingus in Ireland.