A successful rights issue depends on investors believing that demand will come back prior to the company running out of Cash. That looks increasingly unlikely.
The British government will nationalise the company when it's worth nothing I.e. the shareholders will not get anything. OK OR (ii) the creditors will take control as in the Norwegian case OR (iii) as somebody said, there'll be a deal between Qatar and the UK government to take control.
Qatar taking control is extremely unlikely because Qatar Airways is wholly owned by the Qatar government. I would imagine that the Qatari government wholly owning BA would be politically unpalatable. Air Italy were prevented from extending services to the United States because of the Qatari money involved. That lead directly to the closure of Air Italy. Qatar has received criticism over human rights, the financial backing of terrorist organisations and it's relationship with Iran.
Last edited by kungfu panda; 31st Jul 2020 at 12:08.