Friday, 31 Jul 2020 06:45 PM MYT
LONDON, July 31 — Qatar Airways has proposed two directors for the board of British Airways owner IAG, seeking to strengthen its position after backing the group’s planned €2.75 billion cash call. IAG announced plans for the capital increase today as it seeks to shore up its finances after the Covid-19 pandemic effectively brought the entire airline sector to a halt.
The Spanish-registered group, which also owns Iberia and Aer Lingus, said its annual shareholder meeting would be held on September 8, at which shareholders will be asked to approve the capital increase.
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British Airways owner IAG to raise €2.75b in equity as Covid-19 bites | Malay MailLONDON, July 31 ― IAG, the owner of British Airways, said it planned to raise €2.75 billion (RM13.86 billion) from shareholders to prop up its finances and allow it to survive what could be a longer-than-expected collapse in flying triggered the coronavirus pandemic. Backed by its biggest...
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British Airways parent IAG swoops for more cash to survive crisis | Malay MailLONDON, July 31 — Airline giant IAG, the owner of British Airways and Spanish carrier Iberia, today logged a €3.8 billion (RM19 billion) first-half net loss — and launched a capital-raising to help it navigate the demand-destroying coronavirus crisis. The European travel giant, whose...
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German ministers in hot seat over Wirecard collapse | Malay MailFRANKFURT, July 30 — Finance Minister Olaf Scholz yesterday said he gave lawmakers a “detailed” explanation of everything he knew about the fraud scandal that brought down payments firm Wirecard, amid criticism that authorities missed early warning signs of trouble. Wirecard filed for...
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Nokia flips back into profit | Malay MailHELSINKI, July 31 — Finnish telecommunications equipment provider Nokia said today it had returned to profit in the second quarter and hiked its 2020 forecasts, despite a drop in sales due to the coronavirus pandemic. Net profit came in at €94 million (RM472 million) compared to a loss of...
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Saudi-backed group ends takeover interest in Newcastle United, says report | Malay MailLONDON, July 30 ― The proposed takeover of Premier League club Newcastle United by a Saudi Arabian-backed consortium has collapsed after the group announced they were ending their interest in the deal. The group, which included Saudi Arabia's sovereign wealth fund PIF, PCP Capital Partners and...
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Exxon posts second straight quarterly loss on demand, price plunge | Malay MailIRVING (Texas), July 31 — Exxon Mobil Corp reported a US$1.1 billion (RM4.7 billion) loss for the second quarter today, the first back-to-back quarterly loss for the US oil giant in at least 36 years. Exxon stood out among its supermajor peers for not taking a large writedown on the value of its...
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