{"id":8391,"date":"2020-07-26T23:56:54","date_gmt":"2020-07-27T04:56:54","guid":{"rendered":"http:\/\/planesintheair.com\/?p=8391"},"modified":"2020-07-26T23:58:07","modified_gmt":"2020-07-27T04:58:07","slug":"british-airways-plans-to-sell-shares-and-avoid-bailout","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=8391","title":{"rendered":"British Airways Plans to Sell Shares and Avoid Bailout"},"content":{"rendered":"\n

British Airways is scrapping all its Boeing 747 jumbo jets.<\/p>\n\n\n\n

It\u2019s cutting capacity to prepare for years of weak demand for air travel.<\/p>\n\n\n\n

Now Reuters sources say owner IAG has a plan to get its finances in good order too.<\/p>\n\n\n\n

They say the company will probably sell shares at the end of the summer, in a bid to raise almost 2.9 billion dollars.<\/p>\n\n\n\n

Though other options for raising the money are being considered.<\/p>\n\n\n\n

The cash would be used to keep group airlines in business, and avoid a government bailout.<\/p>\n\n\n\n

That\u2019s in contrast with European rivals.<\/p>\n\n\n\n

Air France has secured a 7 billion euro package from the French government.<\/p>\n\n\n\n

Germany\u2019s Lufthansa agreed a 9 billion euro rescue deal.<\/p>\n\n\n\n

IAG has avoided any such agreement, hoping to limit state involvement in how it’s run.<\/p>\n\n\n\n

It has though taken state-backed loans in the UK and Spain, where it owns Iberia.<\/p>\n\n\n\n

The sources say the airline is working with banks including Goldman Sachs and Morgan Stanley on the new plan.<\/p>\n\n\n\n

It\u2019s thought an announcement could coincide with financial results due at the end of the month.<\/p>\n\n\n\n

Neither the airline nor the banks would comment on the reports.<\/p>\n\n\n\n

IAG shares have lost about 66% of their value this year.<\/p>\n\n\n\n

On Friday (July 24) afternoon they were in the red again, down over 5%.<\/p>\n\n\n\n

Click the link below to watch the video report!<\/p>\n\n\n\n

https:\/\/finance.yahoo.com\/video\/ba-aims-sell-shares-dodge-154041288.html<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

British Airways is scrapping all its Boeing 747 jumbo jets and cutting capacity to prepare for years of weak demand for air travel.<\/p>\n","protected":false},"author":1,"featured_media":8392,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10174,797,4813,89,5637,8222,10701,10700,5992,7929,2203,10751,4957,5676,10169,10176,1397,10173,10195,10171,868,10182,1103],"tags":[63,539,129,420,118,625,160,7427,10936,41,624,988,1327,2857,12078,4159,447,2493,1180,10304,1631,571,2521,6376,688,745,620,623,199,1898,3339,8867,137,2519,412,995,2383,5970,3247,9808,3912,3017,1288,9652,2522,12077,2841,2275,7817,1932,3257,1691,1658,1916,1630,3407,8658],"class_list":["post-8391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-airline","category-airline-news","category-airplane-news","category-aviation-news","category-business-news","category-consumer-news","category-coronavirus","category-covid-19","category-economic-news","category-european-news","category-finance-news","category-german","category-global-politics","category-international-news","category-news","category-stock-news-2","category-stock-news","category-stockairline","category-transport","category-transportation","category-transportation-news","category-travel","category-travel-news","tag-63","tag-air","tag-air-france","tag-airline","tag-airlines","tag-airways","tag-aviation","tag-avoid","tag-bailout","tag-boeing","tag-british","tag-business","tag-capacity","tag-consolidated","tag-contrast","tag-cutting","tag-deal","tag-demand","tag-european","tag-finances","tag-french","tag-germany","tag-goldman","tag-good","tag-government","tag-group","tag-iag","tag-iberia","tag-international","tag-jets","tag-jumbo","tag-keep","tag-lufthansa","tag-morgan","tag-news","tag-order","tag-owner","tag-package","tag-plans","tag-prepare","tag-raise","tag-rescue","tag-reuters","tag-rivals","tag-sachs","tag-scrapping","tag-sell","tag-shares","tag-sources","tag-spain","tag-stanley","tag-transport","tag-transportation","tag-travel","tag-uk","tag-weak","tag-working"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8391"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8391\/revisions"}],"predecessor-version":[{"id":8393,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8391\/revisions\/8393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/media\/8392"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}