British Airways' parent company said Thursday it is considering making an offer for low-cost carrier Norwegian Air Shuttle.
International Airlines Group says in a statement Thursday that it has acquired 4.61 percent of Norwegian Air Shuttle "to establish a position from which to initiate discussions, including the possibility of a full offer for Norwegian."
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IAG says "no such discussions have taken place," and the company hasn't decided whether it will make an offer.
Shares in Norwegian Air jumped 37 percent on the news.
Norwegian Air Shuttle has rocked the long-haul market with offers like 99-pound ($140) tickets from Edinburgh to New York.
In a statement, the Oslo, Norway, based company said it had "no prior knowledge of this acquisition," adding it had "not been in any discussions or dialogue with IAG about the matter."
"Norwegian believes that interest from one of the largest international aviation groups demonstrates the sustainability and potential of our business model and global growth," it said.