IAG launches rights issue to tackle ‘worst case’ coronavirus scenario

By Sam Kerr
31 Jul 2020

IAG, the airline holding company which owns British Airways, has launched a €2.75bn (£2.49bn) rights issue to give it enough liquidity to withstand Covid-19 disruption until 2023.

The airline holding group announced on Friday that it had secured standby underwriting from Goldman Sachs, Morgan Stanley and Deutsche Bank for the cash call and added that its largest shareholder Qatar Airways, with a 25.1% stake, had irrevocably committed to subscribe for shares in the ...

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