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Opening the economy restores confidence in aviation … two companies that raise two billion dollars

Source: Dubai – Arabic.net

At a time when there is an increasing debate about the attractiveness of investing in airline stocks, signs have emerged of the continued interest of investors in the shares of these companies, as two companies are currently raising up to two billion dollars from investors.

British Airways EasyJet raised 419 million pounds ($ 520 million) from selling shares in the market, as the economy began to open in Europe.

The sale represents about 15% of the company’s existing shares in the market, and it was sold at 703 pence per share, which represents a 5% discount from the share’s closing price on June 24.

The company said that its liquidity will now be 3 billion pounds, including 350 million pounds from the sales and operations of the lease on its aircraft.

This comes at a time when the Australian company Quanets plans to raise about $ 1.3 billion from the market, while cutting 6 thousand jobs, in light of the company faltering due to the Corona epidemic.

The company indicated, today, Thursday, that 15,000 employees will remain on vacation, especially those working in the international operations sector. The company’s shares have fallen 41% this year.

The company said that the fund-raising process includes an IPO from the institutions to sell shares worth A $ 1.36, along with the A $ 500 million equity purchase program. The company aims to cut costs by A $ 15 billion within 3 years.

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Source: Alarabiya

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