International Airlines Group considers bid for Spanish low-cost carrier Vueling

International Airlines Group, which owns British Airways and Iberia, is considering a bid to take full control of Spanish low-cost airline Vueling.

IAG already owns nearly 46 percent of Vueling through a stake held by Iberia.

IAG said late-Wednesday that its board would consider a possible takeover bid when it meets Friday.

The company launched a low-cost carrier, Iberia Express, earlier this year, but analysts say that buying Vueling could be a quicker way for IAG to combat competition in Spain's low-cost sector.

IAG shares were down 0.3 percent at 169 pence in early Thursday trading in London.