Finnair has refuted rumours that it was in talks with the International Airlines Group (IAG) over the group taking it over.

The Nordic carrier released a press statement to comment on the market speculation and a newspaper report in Finland and says “no ownership negotiations are ongoing”.

The statement continues: “Finnair notes that there has been speculation in the media today regarding a potential bid for Finnair by British Airways or IAG. Finnair is not active, and is not aware of its shareholders being active, in any such negotiations.”

Reuters reports British Airways-owner IAG has also denied the report that was in a Finnish newspaper, which fuelled speculation it might take a stake in the Finnish airline, 56 per cent owned by the state.

The online edition of Finland’s business daily Kauppalehti had quoted an IAG source as saying talks between the two had advanced.