IAG launches $IAG launches $3.48 billion rights issue 3.48 billion rights issue 

International Airlines Group (IAG) has announced a rights issue of up to €2.75bn billion to boost its liquidity and reduce leverage. Goldman Sachs, Morgan Stanley and Deutsche Bank are acting as underwriters. Qatar Airways Group, IAG’s largest shareholder with a 25.1% holding), has confirmed its support for the proposed capital increase and irrevocably undertaken to subscribe for its pro rata entitlement. Qatar Airways has proposed two directors to join IAG’s Board as non-executive directors. The remainder of the capital increase is fully underwritten on a standby basis. Shareholders will vote to approve the deal at a meeting in September. “Our investment in IAG