Finnair seeks €600 million in new rights issue

Finnair is intending to launch a new rights issue to existing shareholders to raise up to €600 million. The airline has convened an Extraordinary General Meeting (EGM) to authorise the offering, which is expected to be completed during the fourth quarter of 2023. Finnair intends to use the net proceeds will pay down the outstanding portion of the €400million capital loan. Together with the redemption of its €200 million hybrid bond, Finnair says the move will provide a sustainable balance sheet and significantly reduce its financing costs. Finnair believes this financial strategy will enable the company to meet its key