New quarantine rules threaten IAG rights issue

BA_plane_PA_575x375_July27
By Aidan Gregory, Sam Kerr
27 Jul 2020

The UK government’s decision over the weekend to reintroduce a quarantine on travellers from Spain is set to make a rights issue far more difficult for International Consolidated Airlines Group (IAG), the airline holding company which owns British Airways, according to equity capital markets sources.

The timing of the government’s decision could not have been worse for the company, given it had announced that it was evaluating the merits of a rights issue of up to €2.75bn on Friday.

It said on Friday that a deal would further strengthen IAG’s balance sheet but ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial