{"id":414463,"date":"2021-05-12T08:35:57","date_gmt":"2021-05-12T03:05:57","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=414463"},"modified":"2021-05-12T09:06:33","modified_gmt":"2021-05-12T03:36:33","slug":"british-airways-owner-iag-boosts-liquidity-with-1-bn-convertible-bond","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/british-airways-owner-iag-boosts-liquidity-with-1-bn-convertible-bond\/","title":{"rendered":"British Airways owner IAG boosts liquidity with $1 bn convertible bond"},"content":{"rendered":"<p>LONDON (Reuters) &#8211; British Airways-owner IAG said on Tuesday it would raise 825 million euros ($1 billion) from a convertible bond, the group&#8217;s latest move to strengthen its balance sheet as travel remains at very low levels during the pandemic. <\/p>\n<p>IAG, which also owns Aer Lingus, Iberia and Vueling, has a weekly cash burn rate of 175 million euros while most of its fleet is grounded due to restrictions, meaning its focus over the past year has been on raising funds. <\/p>\n<p>Forecasting a travel recovery from July, the group said last week that it had liquidity of 10.5 billion euros, helped recently by a new revolving credit facility and the deferral of some pension payments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) &#8211; British Airways-owner IAG said on Tuesday it would raise 825 million euros ($1 billion) from a convertible bond, the group&#8217;s latest move to strengthen its balance sheet as travel remains at very low levels during the pandemic. IAG, which also owns Aer Lingus, Iberia and Vueling, has a weekly cash burn rate of 175 million euros while most of its fleet is grounded due to restrictions, meaning its focus over the past year has been on raising funds. Forecasting a travel recovery from July, the group said last week that it had liquidity of 10.5 billion euros, [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-414463","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/414463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=414463"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/414463\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=414463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=414463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=414463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}