British fund becomes IAG's second largest shareholder
Group controls air carriers such as Iberia and Vueling
International Airlines Group has a new shareholder, the second overall in percentage terms: it is Marshall Wace fund which is based in London and which has acquired a 3.02% stake in the share capital. At this point, only the carrier Qatar Airways has a larger share (25.1%). There are so many airlines controlled by Iag, namely Aer Lingus, British Airways (read also the article published by AVIONEWS), Iberia and Vueling, among others. About two weeks ago there was a capital increase of the Group for a total value of 2.7 billion euros to increase liquidity and reduce debt as much as possible in this difficult health and economic time.
This Group received subscriptions for the new securities to be issued, while the share trading took place last October 7. The London hedge fund which is now the second largest shareholder has existed since 1997. As early as a fortnight ago, Spain stepped forward with the two Spanish carriers that are part of International Airlines Group, acquiring stocks to allow for an increase in capital and making available almost 70 million Euros. Reactions on stock exchange are now awaited, specifically at the London Stock Exchange and in Madrid.
AVIONEWS - World Aeronautical Press Agency