The rights issue has been mulled about for some time, maybe even when the price recently went above 350p, who knows.
Sure it will be at a discount at the time of announcement, then the actual share price will hover at that level.
I expect Qatar and others to pick up some IAG shares at bargain prices, with a longer-term view.
Current liquidity of €8.1 billion isn’t quite ‘desperation’.
Apparently, they have bridged loan facilities for a further year.
The rights issue will increase liquidity by a further c.€3bn.
And they still want to buy another airline?
Hardly ‘fighting for survival’ just yet.