IAG shareholders propose joint Norwegian bid with Ryanair

Several shareholders of International Airlines Group (IAG) have proposed that the airline group work with Ireland's Ryanair on another attempt to purchase Norwegian Air Shuttle.

The proposal by the UK-based shareholders suggests that IAG would maintain the long-haul operations of Norwegian, while Ryanair would pick up the short-haul.

IAG currently holds a 4.6% stake in Norwegian, with two bids for the remaining stake recently rejected by Norwegian.

Norwegian is open to a deal at the right price, according to its CEO, Bjorn Kjos.