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BABWF - IAG: Strong Push For Liquidity Improves Survival Chances
International Consolidated Airlines Group SA
IAG ([[ICAGY]], [[INCC]], [[BABWF]]) (the trading name of ICA) and owner of European airlines including BA, Aer Lingus and Iberia, has announced alongside its trading update a proposed capital raise.
The Capital Raise is Not a Surprise
The big news in the announcement was that the company will have a rights issue. We ought to have seen this coming, since prior to the inception of IAG BA was not averse to rights issues (it had one in 1993) and IAG had a rights issue in 2009, when its chief executive was Mr. Walsh, now