IAG has been buying back its own stock for a decade known as stock buybacks, annually Euro 500million minimum.
If they want to survive , they must be forced to go to raise capital , they will have to dilute their stock as necessary to survive .
Anything else is not acceptable to the UK taxpayer and Treasury.
Look at the cruise ship companies eg Carnival , they are doing this now ..... why not IAG . They must sell stock or go to the Bond markets.
Why should tax payers have a stake in IAG ??
Airlines in the USA went on an $18 Billion stock buyback spree .... why should they get govt bailouts etc.... they should sell shares , dilute as they have to to survive ... its outrageous.
Airlines need to take their own action before expecting any assistance ....... dilute away if you want to survive !!!