International Cons Airlines Group Statement regarding equity raise media speculation
RNS Number : 0684U
International Cons Airlines Group
24 July 2020
Statement in relation to media speculation regarding equity
International Airlines Group (IAG) notes recent media
speculation regarding the possibility of IAG undertaking an equity
As detailed in its Q1 financial results announcement on 7 May,
going into the crisis IAG had a strong balance sheet and liquidity
with cash and undrawn facilities at 30 April of EUR10 billion. IAG
has taken appropriate actions to strengthen its balance sheet and
boost its liquidity position. This includes the announcement
earlier today that IAG has extended its global commercial
partnership with American Express and will receive a payment of
approximately GBP750 million.
The Group is evaluating the merits of a rights issue of up to
EUR2.75 billion that would further strengthen IAG's balance sheet.
No decision has been made as to whether or when to proceed with a
A further announcement will be made as appropriate.
Chief Financial Officer
24 July 2020
This announcement contains inside information and is disclosed
in accordance with the Company's obligations under the Market Abuse
Regulation (EU) No 596/2014.
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(END) Dow Jones Newswires
July 24, 2020 10:54 ET (14:54 GMT)