El Al said in a statement to local media that he “would endeavor to keep air routes to and from Israel open, even amid security threats, in all situations in which it is possible to fly “. She was ready, she stressed, to operate additional planes to fill the deficits of foreign carriers.
Palestinian militants have bombed the Tel Aviv area several times since conflict erupted on May 10, prompting Israel’s main airport to reroute some flights to Eilat Ramon, …
IAG increases liquidity amid “uncertainty” with € 825 million bond
13.05.2021 – 01:38 UTC
IAG International Airlines Group will raise 825 million euros ($ 1 billion) from a senior unsecured bond, convertible into shares, in a further attempt to strengthen its balance sheet amid “lingering uncertainty over air travel,” a- he said in a communication to investors on May 11.
Cash burn across the group, which owns Aer lingus, British Airways, Iberia, LEVEL, and Vueling Airlines, was estimated at 185 million euros ($ 224 million) per week in the first quarter of 2021. With Covid-19-related travel restrictions continuing across Europe, IAG has focused on fundraising.
Commenting on the group’s first quarter results last week, in which it recorded an operating loss of 1.135 billion euros ($ 1.38 billion) – double the loss for the same period last year – said IAG Managing Director Luis Gallego at a press conference on May 7, the group expected to resume travel to its markets from July.
It already has a “strong liquidity”, he assured in his results, of 10.5 billion euros (12.7 billion dollars), recently helped by a new …