International Consolidated Airlines Group (“IAG”), the parent company of airlines including British Airways, Iberia and Air Lingus, has commenced a rights issue to raise up to €2.75 billion. The rights issue, launched September 10, will strengthen IAG’s balance sheet by reducing financial leverage and increasing IAG’s overall liquidity position.
S&C advised IAG as a combined team with Garrigues, which advised on matters of Spanish law, and Slaughter and May, which advised on matters of English law.
The S&C team advising IAG is led by John Horsfield-Bradbury in London, supported by European counsel Abi Yevnin and associate Nitish Verma.