British Airways is cutting its capacity to prepare for years of weak demand for air travel
) said on Friday it is drawing up plans for a possible rights issue of up to 2.75 billion euros to strengthen its balance sheet.
IAG’s share price has lost 66% of its value since the start of the year, as global air travel came to a halt during the coronavirus crisis. On Friday its stock fell more than 4% following the Reuters story on the rights issue. Two sources had earlier told Reuters that the company was targeting the end of the summer for the capital raise, which would keep the business afloat and avoid a government bailout.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Centrica to sell North American energy business for $3.63 billionCentrica Plc is to sell its North American subsidiary Direct Energy for $3.63 billion, sending shares in the British Gas owner up more than 38%.
Read more »
British Airways-owner IAG boosted by 750 million pounds deal with American ExpressBritish Airways-owner International Airlines Group said American Express would pay it 750 million pounds ($955 million) to renew their partnership, providing a welcome boost to the airline's finances at a time when it is burning through cash.
Read more »
British Airways owner IAG extends partnership with American ExpressBritish Airways owner International Airlines Group on Friday said it had signed a multi-year renewal agreement with American Express , extending its worldwide commercial partnership with the payments company.
Read more »
Goldman Sachs Reaches $3.9B Settlement With Malaysia Over 1MDB Corruption CaseGoldman Sachs has agreed to a $3.9 billion settlement with Malaysia over the 1MDB corruption scandal. The company had raised money, which was then allegedly siphoned off to finance, among other things, 'The Wolf of Wall Street.' More:
Read more »
France to help railway firm SNCF with several billion euros: Le FigaroFrance will help state-owned railway company SNCF survive the coronavirus crisis by providing several billion euros, Transport Minister Jean-Baptiste Djebbari told daily Le Figaro on Thursday.
Read more »
Tesla reports Q2 profit and picks Texas for new $1B gigafactoryTesla shares continue to rise in 2020 as the company meets key targets, in spite of issue with production and delivery in previous quarters.
Read more »