Aer Lingus owner to raise extra €1bn to strengthen pandemic financial defences

Airline owner is bolstering its finances to survive the pandemic

IAG, which also owns British Airways and Iberia, said the senior unsecured bonds would be issued in two tranches.

Aer Lingus-owner IAG said it planned to raise about €1bn through a bond issue, further strengthening its finances to help it survive the pandemic should the travel downturn go on longer than expected.

IAG, which also owns British Airways and Iberia, said the senior unsecured bonds would be issued in two tranches, with €500m of bonds due in 2025 and another €500m due in 2029, and final terms due to be determined shortly.