IAG ‘to make a third €1.5bn offer for Norwegian’

Links on Head for Points may pay us an affiliate commission. A list of partners is here.

Spanish newspaper Expansion reported yesterday (see here, Chrome can translate) that BA’s parent company, IAG, is to make a third offer for Norwegian.

This will value the airline at 330 NOK per share, giving the equity a total valuation of €1.52bn.  This is a 31% premium to the share price last Friday although, as Norwegian carries a huge amount of debt, the actual premium to the Enterprise Value of the business is much lower.

IAG Norwegian takeover bid

Since the Norwegian CEO controls 27% of the company, the decision will in reality rest with him.  With the oil price remaining fairly high by recent standards, Norwegian will face increasing pressure from its lenders.

Whilst Norwegian has said that other airlines have expressed interest, I would be less certain.

As IAG is likely to be a more conservative owner of the company – and may well close down the long-haul operations entirely to free up aircraft for LEVEL, BA, Iberia and Aer Lingus – Air France KLM and Lufthansa might be happier to sit it out and reap the benefits of reduced competition without having to spend any money of their own.

(Want to earn more Avios?  Click here to visit our home page for the latest articles on earning and spending your Avios points and click here to see how to earn more Avios from current offers and promotions.)

Get 720 Avios or 750 Virgin miles with a NOW TV media stick
Earn TRIPLE Avios with Accor - at least 7.5 per €1 spent!
Click here to join the 14,000 people on our email list and receive the latest Avios, miles and points news by 6am.

Hilton India and SEA sale
Amazon ad
About Head for Points

We help business and leisure travellers maximise their Avios, frequent flyer miles and hotel loyalty points. Visit every day for three new articles or sign up for our FREE emails via this page or the box to your right.


  1. Jonathan Stoller says:

    A colleague holding the Gold (charge) Card was looking to upgrade to the Platinum Charge Card (and hopefully bag the 20k bonus), but instead made a new, distinct application for the Platinum card.
    When realising his mistake, and before he had activated the card, he phoned up to cancel and was able to do so with no charge, as he was within the 14 day cooling off period. Due to this, Amex said there shouldn’t be any record of the application etc, and this he is now going upgrade from Gold to Platinum.

    Might be worth doing the same (i.e. call up to cancel within cooling off period). Though of course you risk ending up with nothing! If you do so, ask Rob for a referral link for the BAPP which will net you extra Avios (again, if it works…).

    • Jonathan Stoller says:

      sorry this was meant to be in reply to an earlier post, pls feel free to delete!

  2. Vivian says:
    • chris says:

      all those lego points tipped them over the edge 😉

      • the real harry1 says:

        Bad news for all stakeholders! 🙂

        Best of luck finding a new job to the real losers, ie those who will get made redundant.

        • Genghis says:

          Wowsers. Indeed. For a biz line of a FTSE 100 firm though, the control environment of Tesco Direct was shoddy.

    • Lev441 says:

      Hopefully we may see some better Clubcard deals in store now – they have been pretty poor in the past year.

  3. Mark2 says:

    Bad news_
    My wife received Avios on her previously defective Lloyds Avios account and has received a manual credit for points missing.

    So no more compensation!

    • Alex W says:

      If it wasn’t within the time they stated (6 months?) You may still get some compo. Think I got another £50.

    • I complained on Sunday evening for the 3 months of missing points – I needed those points for my flight booking.

      My phone rang on Monday morning – a nice lady from Lloyds telling me that they opened a new Avios account for me (but never told me) and gave me the Avios membership number.

      So I now have my missing points 🙂 But no compensation 🙁

  4. signol says:

    OT. TFL Rail have taken over running the Heathrow Connect service. As I understand it, Oyster and Contactless PAYG are now accepted on it, with a special (ie higher than normal) fare, but period travelcards and daily caps will be the standard.

    • 2 train ph from Paddington to Hayes&Harlington are the new Crossrail stock too!

  5. The Original Nick says:

    O:T, Just noticed 1500 ihg points posted to my account under ‘Airline Incentive’
    Anyone have any idea what it is for?

    • Genghis says:

      Similarly, I’m seeing lots of “Offer Win” for zero points. Any ideas?

      • EwanG says:

        Nick – did you sign up for the BA promo which I think JamesB posted about 2 months ago?

        Genghis – same here (but just the one on my account) which appeared after booking a PointsBreak night to meet one of my Q2 Accelerate targets. Only thing I could think to cause it was BA promo as above!

        • The Original Nick says:

          EwanG, maybe but not sure. Also seeing “Offer Win” for zero points.

  6. Slightly odd question,RE: signup bonuses and BA taxes.

    Illustrative figures;

    1. I want to make a redemption in J
    2. I have just taken out a gold card
    3. I am 20k points short of the J redemption value

    Is it possible that I book one way in J and return in Y, and pay the taxes on my gold card I have just taken out? Do these taxes count towards signup bonuses?

    Once I have hit the signup bonus (from the taxes and other spending), is it possible to then change the Y leg to J with my additional avios/MR?

    • Genghis says:

      1) Is it possible that I book one way in J and return in Y? Yes
      2) and pay the taxes on my gold card I have just taken out? Yes
      3) Do these taxes count towards signup bonuses? Yes
      4) Once I have hit the signup bonus (from the taxes and other spending), is it possible to then change the Y leg to J with my additional avios/MR? Yes, only if availability in J and you’d be subject to the £35 change fee

    • Alex W says:

      @alab. Have you considered booking WTP then upgrade using Avios. Should cost you 1/3 the Avios of a J redemption (on a peak date), Plus you earn Avios and TP back.
      If you need a refundable ticket though, cheaper to go with Genghis’s full redemption option.

  7. the real harry1 says:

    O/T how do I transfer points from my SPG a/c to my wife’s, please? Will the option pop up in My Starpoints via Amex log in once I get a few points?

    • Genghis says:

      Your SPG points will transfer from Amex to your own SPG acct. Then just login to your SPG account and there’s an option with something like “transfer within household”. Enter your wife’s SPG no then wait a few days for the transfer to take place.

  8. My Vueling flight from Gatwick to Barcelona this evening is delayed by 3.5 hours. Booked using creation but I do have Amex Plat. Could I claim compensation? Any advice would be gratefully received.

    • EU261, no bother.

      • the real harry1 says:

        Bit more to it than that. Are there extraordinary circumstances? Make a careful note of what the captain tells you is the cause of the delay, record it if possible. And even with a 3.5 hrs delay on departure, you might arrive under 3 hrs late at destination vs scheduled arrival time (ie when door opens for disembarkation), which is what counts.

    • Here are a couple of links for EU261 compensation in case they help.

      UK Civil Aviation Authority —

      Vueling —

      You should be covered, unless they can claim extraordinary circumstances.They still have care of duty anyway, or whatever it is called. It is worth finding out what you can about the reason for the delay. I think I heard there may be French air traffic controller strikes affecting flights over French air space today – but I haven’t actually checked this. I’m afraid I don’t know details about the Amex Plat.

      Good luck!

    • Just testing – I’ve just written a reply re EU261 compensation, twice and the comment didn’t go through either time

    • OK here goes again. I’m afraid I can’t help re Creation/Amex Plat coverage. As trh1 says, circumstances are key to EU261 compensation, so very important to try to find out the reason for the delay.

      I haven’t actually checked, but I have heard there might be delays in flights over French air space today due to a possible French air traffic controller strike. Regardless, the airline has certain duty of care obligations.

      I put in the Civil Aviation authority link on EU261 compensation before, and also the one from Vueling’s own website, but am omitting them now in case that was the reason my replies didn’t go through. Good luck with both your flight and compensation.

    • marcw says:

      Good luck Vin, but I thing it´s all due to France´s strike. Remember that Barcelona is just south of the French border, so almost all flights have been affected. If you want to have a look at Spanish newspapers, you will read plentuy of reports like “long delays today in Barcelona due to French strike”.

  9. Nick M says:

    Slight moment of panic – received an email from BA saying how they keep my details safe and then notice that they say I have 300 Avios… surely there should be another 3 zeros on the end?! Then I realise it was one of the children’s accounts…!

  10. o/t Any tips on booking eurotunnel?

    Looks like using Tesco vouchers at 3:1 is the best way currently?

    • MarkH says:

      I just did a weekend crossing for 2000pts which normally costs £60 so was great value I thought

      I had initially planned to use my points haul from the ink cartridges for avios but I seem to be using it all on Uber and now Euro Tunnel

    • Mr(s) Entitled says:

      I use Tesco for this. 3:1 is a good rate and a genuine saving on an item I would otherwise be paying cash for.

Please click here to read our data protection policy before submitting your comment.