BA’s owner IAG looks at all options but steers clear of rights issue
British Airways’ (BA) owner IAG is reportedly looking at all options to best navigate the period’s ups and downs but said it was for the moment steering clear of rights issues.
IAG’s boss Luis Gallego said that, while the group was starting to recover from the pandemic’s impact, geopolitical and economic turmoils pushed it to consider various business options.
“We don’t have a plan right now to do a rights issue because in the current circumstances that we have, we see the recovery of the business, we see the high level of bookings,” he told Reuters.
“It is true that we are still in an environment of volatility and uncertainty so what we are analysing is what are the scenarios for the business. And always we have in mind that what we want is to maximise shareholders’ value.”
Gallego added that it would negligent on IAG’s senior management not to consider even the most drastic choices such as asset sale and mergers with other airlines.
“The world is very uncertain now and we need to analyse all of them.”
Despite registering a share slump in the past few days as a result of the Ukrainian conflict, Gallego commented that booking across the whole IAG network had not been affected and that rerouting was manageable.