A Finnair Airbus A320-200 aircraft prepares to take off from Manchester Airport in Manchester, Britain September 4, 2018.
REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters Breakingviews) - Rights issues worth almost the value of a company’s equity rarely get off the ground.
Tell that to 700 million euro Finnair (FIA1S.HE), which on Friday unveiled a 600 million euro rights issue.
For one thing, the Finnish state owns over half of the Nordic airline and is supporting the rights issue.
The government is offsetting the cost of the cash call by being partly refunded a 400 million euro capital loan it granted to the airline in the wake of the pandemic.
Persons:
Phil Noble, Aimee Donnellan, Tesla, Sandoz, George Hay, Oliver Taslic
Organizations:
Airbus, Manchester Airport, REUTERS, Reuters, Nordic, SAS, X, Alstom, Brookfield, Thomson
Locations:
Manchester, Britain