two hours ago
London: International Airlines Group, which owns British and Spanish airlines, Iberia, has announced that Qatar Airways It promised to increase the group’s capital to help overcome the crisis left by the Corona pandemic.
The group said the capital increase would help the British and Spanish companies overcome their stifling financial crisis.
The CNN network quoted international airlines as saying that it “plans to raise up to 2.75 billion euros, or $ 3.3 billion, from shareholders, including the Qatar Airways, to help overcome the deepest crisis in aviation history.”
The international group added, in a statement, that Qatar Airways is the largest shareholder in the group with a share of 25.1%, “promising to increase the capital; This means that it will save about 688 million euros. ”
International Airlines plans to use these funds to “pay off debts and increase the amount of cash they hold”, according to the same source.
Anatolia was not immediately available to comment on what CNN reported, quoting the statement from International Airlines.
It is noteworthy that International Airlines does not expect global passenger demand to return to 2019 levels, at least before 2023.
The aviation industry was hit hard by the Corona pandemic; As passenger traffic decreased in the second quarter by more than 98% compared to the same period last year, and revenue in the quarter decreased by almost 90%, according to statistics of the International Airline Federation.