Takeovers 

IAG to raise funds, is Rolls Royce next?

IAG to raise funds, is Rolls Royce next?

Alongside its half year results, International Consolidated Airlines Group (IAG) announced that it will indeed be undertaking a €2.75bn (£2.5bn) rights issue to bring down net debt, increase liquidity and enable it to withstand an extended downturn in global air travel. Net debt was 4.2 times cash profits at the end of June, up from a multiple of 1.4 at the end of December. The airline group says the capital increase will be put to a shareholder vote on 8 September. 

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now