IAG shareholders approve  $3.25 billion rights issue

IAG shareholders have approved the group’s plan for a $3.25 billion rights issue at a virtual meeting which also saw chief executive Wille Walsh over control of the firm to Iberia’s Luis Gallego. The rights issue was approved by 99% and included an “irrevocable  commitment”  from Qatar Airways, whose 25% holding makes it the single largest investor in the airline group. “It is the worst crisis we have ever faced, far worse than both 9/11 and the financial crash in 2008,” Willie Walsh said. “We are having to re-calibrate everything we do as we anticipate that it will take until