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BABWF - IAG: Rights Issue Discount Is Good For The Company Less So For Shareholders
International Consolidated Airlines Group SA
IAG which trades as International Consolidated Airlines Group ([[ICAGY]], [[BABWF]]), the parent group of airline companies including BA, Aer Lingus and Iberia, announced over the Summer it would have a rights issue. It has now priced this. I think the weak pricing shows the continued challenges which beset the company.
Background to the Rights Issue
I outlined the leadup to the rights issue in my previous piece IAG: Strong Push For Liquidity Improves Survival Chances. Clearly, 2020 has been a torrid year across the passenger aviation industry. While some companies have turned to governments