Norwegian wants to buy Monarch

Norwegian wants to buy Monarch

Norwegian is in talks with British airline Monarch Airlines to buy up all or part of the company, reports sources to Press Association.

According to the British news agency, the Norwegian airline has thrown itself in the bids to secure a larger part of the low-cost market in the UK.

The attempt to buy parts of or the entire company puts pressure on the competitors EasyJet and Ryanair, says the sources to the news agency.

According to PA, Monarch is owned by the private investment company Greybull Capital. Greybull has recently asked KPMG to look at opportunities to reorganize or sell the short-distance part of the company in order to invest more on the more lucrative long-range routes.

Norwegian Air does not want to comment on what they call is pure speculation.

“These are speculations we do not comment on, but it’s no secret that Britain is an important market for Norwegian, where we have ambitious growth plans, not least on intercontinental routes,” says Communications Manager Lasse Sandaker-Nielsen to NTB.

© NTB Scanpix / Norway Today