(Alliance News) - International Consolidated Airlines Group SA denied predictions that it will follow in easyJet PLC's footsteps by raising billions from shareholders, the Sunday Times reported.
Earlier this month, easyJet tapped investors for GBP1.2 billion in a fully underwritten rights issue to help bolster its balance sheet, as the travel sector continues to be hurt by the spread of coronavirus. Analysts at Goodbody and HSBC said they believed the British Airways parent would follow.
But IAG Chief Executive Officer Luis Gallego denied any plans for a fundraise, telling the Sunday Times: "We do not see the necessity to do a rights issue and are not considering it."
IAG shares were up 2.1% at 152.65 pence, one of the best performers in the FTSE 100 on Monday morning.
https://www.thetimes.co.uk/article/we-wont-tap-city-for-emergency-funds-says-ba-owner-luis-gallego-mnz6szjtm
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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International Airlines (IAG)
