Shares in budget carrier Norwegian Air rose today after Aer Lingus and British Airways owner IAG denied a Spanish media report it was preparing another offer for the airline. 

The shares were up 7% in early trade after rising as much as 12% at the opening of trading. 

"We have said that we are no longer interested in Norwegian several times in the last few months. Nothing has changed," an IAG spokeswoman said. 

Spanish news website OKdiario reported last night that IAG would make an offer for Norwegian within a fortnight, citing anonymous sources. 

IAG said in January that it would not bid for Norwegian and planned to sell its 3.93% shareholding in the company. 

Norwegian subsequently raised 3 billion Norwegian crowns ($351 million) to shore up its finances. 

The airline has shaken up long-haul rivals by offering cut-price transatlantic fares, but its rapid expansion has left it with hefty losses and high debts.