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Markets

British Airways-owner IAG launches 800mn euro convertible bond

  • IAG said that given the continuing uncertainty around air travel the new funds would help the group's overall liquidity position.
11 May 2021
FILE - In this Jan. 10, 2017 file photo, British Airways planes are parked at Heathrow Airport in London. British Airways will resume flights to Pakistan in June 2019, a decade after it suspended operations following bombing on the Marriott Hotel in Islamabad that killed dozens, an official of British Airways said in a statement, Tuesday Dec. 18. 2018. (AP Photo/Frank Augstein, File) — Copyright 2017 The Associated Press. All rights reserved.
FILE - In this Jan. 10, 2017 file photo, British Airways planes are parked at Heathrow Airport in London. British Airways will resume flights to Pakistan in June 2019, a decade after it suspended operations following bombing on the Marriott Hotel in Islamabad that killed dozens, an official of British Airways said in a statement, Tuesday Dec. 18. 2018. (AP Photo/Frank Augstein, File) — Copyright 2017 The Associated Press. All rights reserved.

LONDON: British Airways-owner IAG said it would launch a convertible bond with an initial issue size of approximately 800 million euros due in 2028 to strengthen its balance sheet.

IAG said that given the continuing uncertainty around air travel the new funds would help the group's overall liquidity position and provide the group with extra resources to take advantage of a recovery in demand.

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