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

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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.

How to earn Avios from UK credit cards

How to earn Avios from UK credit cards (April 2024)

As a reminder, there are various ways of earning Avios points from UK credit cards.  Many cards also have generous sign-up bonuses!

In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review

There are two official British Airways American Express cards with attractive sign-up bonuses:

British Airways American Express Premium Plus

25,000 Avios and the famous annual 2-4-1 voucher Read our full review

British Airways American Express

5,000 Avios for signing up and an Economy 2-4-1 voucher for spending £15,000 Read our full review

You can also get generous sign-up bonuses by applying for American Express cards which earn Membership Rewards points. These points convert at 1:1 into Avios.

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review

The Platinum Card from American Express

40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review

Run your own business?

We recommend Capital on Tap for limited companies. You earn 1 Avios per £1 which is impressive for a Visa card, along with a sign-up bonus worth 10,500 Avios.

SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.

Capital on Tap Business Rewards Visa

Huge 30,000 points bonus until 12th May 2024 Read our full review

You should also consider the British Airways Accelerating Business credit card. This is open to sole traders as well as limited companies and has a 30,000 Avios sign-up bonus.

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

There are also generous bonuses on the two American Express Business cards, with the points converting at 1:1 into Avios. These cards are open to sole traders as well as limited companies.

American Express Business Platinum

40,000 points sign-up bonus and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

20,000 points sign-up bonus and FREE for a year Read our full review

Click here to read our detailed summary of all UK credit cards which earn Avios. This includes both personal and small business cards.

Category

British Airways and Avios

Comments (121)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Alex Sm says:
    22 May22 May 09:01

    I shouldn’t have seen this BA advert while still in bed!

  • Will says:
    22 May22 May 09:11

    “Just five more minutes” is that what you’re meant to say to the person kicking your feet as they attempt to walk over you to go and have a pee?

  • rams1981 says:
    22 May22 May 09:41

    OT £30 Harrods credit hit my account after buying £100 gift card last week.

  • Lumma says:
    22 May22 May 10:15

    OT is there any trick to linking my Virgin Atlantic account to my membership rewards account? Iberia and BA worked fine but nothing happens when I put my flying club number in, it just dumps me back on the screen with the list of airlines.

  • Dougie Forde says:
    22 May22 May 10:40

    OT I have just booked a flight using my 2 for 1 BA Amex voucher (thanks Rob). The Amex card I used was a Gold Credit card in my wife’s name. It mentioned in the conditions that we may have to produce that card for identification purposes. Needless to say i fully expect that card to be cancelled by the time we fly. Is this likely to be an issue?

  • pointsarb says:
    22 May22 May 11:02

    OT How is everyone handling using the 241 voucher with BA Amex when flying LHR-HKG round trip and trying to pay less taxes for the HKG-LHR sector please?

    Am I right in saying that because the BA voucher is for a round trip you therefore have to suck up the extra taxes BA charge you as you had to book round trip with BA as opposed to 2 one ways?

    Thanks!

  • Jemmers says:
    22 May22 May 11:33

    Completely OT but can anyone recommend a good hotel in Crete to utilise Amex Plat hotel benefits? So Hilton/Marriot/SPG. Going in 10 days on good cheap flights and doing last minute hotel booking.

    Is Domes of Elounda the only option?

    • Jonny says:
      22 May22 May 13:19

      There’s the Blue Palace (SPG), literally down the road from Domes of Elounda, and also Domes Noruz the other side of the island.
      If paying with points, Domes of Elounda is a good value redemption and a better option than the Blue Palace – fewer points, bigger rooms and breakfast included. I fully expect the points rates to shoot up from next year, unfortunately.

      • Optimus Prime says:
        22 May22 May 13:24

        On the other hand Domes Noruz is for 16yo and older…

    • bsuije says:
      22 May22 May 13:45

      I haven’t been to Crete, so cannot comment on whether any of these are good options, but in addition to Domes of Elounda you could also take a look at the following:
      – Blue Palace, A Luxury Collection Resort And Spa, Crete (SPG, but can also be booked through Amex Fine Hotels & Resorts);
      – Radisson Blu Beach Resort, Milatos, Crete;
      – Domes Noruz Chania, Autograph Collection (Marriott).

      Good luck!

      • Jemmers says:
        22 May22 May 15:15

        OK thanks all, good info.

        On a side note I never stay at Radisson’s and therefore not too bothered about points but will they still honour gold status if booked through a third party?

        Thanks again.

  • Graeme says:
    22 May22 May 11:50

    OT – a few months ago I referred my mum for an Amex Gold. She did the spend and got the points, then applied to upgrade to the Plat. She’s retired and the Gold was her first Amex, so I wasn’t surprised that she was referred, but then they wrote and asked for two different forms of ID for fraud protection. I scanned her passport and bank statement and sent it to the e-mail address as requested, which they sent an automated receipt for. We waited and waited…. then they sent the same letter again. So I sent the scans again. Now they’ve sent the same letter for a third time! We’re going to call tonight, but has anyone experienced anything like this before?

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