IAG plans new US$1.78 billion offer for Norwegian

International Airlines Group (IAG), the parent of British Airways, now reportedly plans to increase its bid for Norwegian Air Shuttle by a premium of 31.7%, offering 330 Norwegian kroner per share for the Scandinavian low-cost carrier - a total of US$1.78 billion.

IAG, which already owns 4.61% of Norwegian, was previously rejected twice by the LCC.

However, IAG recently said it is not expecting to announce an imminent deal to buy Norwegian and would not make a hostile bid, as the group has growth opportunities on its own.

No comment from IAG or Norwegian.