Originally Posted by
Jonty
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There will be no rights issue
The RNS says that shareholders will be diluted, but they will have an opportunity to participate. Maybe not an RI, but some form of equity or stake on offer, in exchange for cash, and that implies remaining listed. I can't see many takers for that, personally. Being a minority shareholder in these situations is a mugs game - the bond holders and banks call the shots. The cash injection is only at the discussion stage, so the debt holders/banks may well decide they would be throwing good money after bad, and instead just sell off the component parts in a liquidation. A key factor is how much the slots are worth, because after the Monarch(?) precedent, they do not remain assets of the liquidators, so that can incentivise keeping the airline running for long enough to sell them on (although the CAA may be disinclined to allow this)