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EasyJet announces a 1.4 billion euros capital increase

The carrier wants to recover from the drop in traffic caused by the pandemic

EasyJet announces a 1.2 billion pounds (1.4 billion euros) capital increase to recover from the pandemic. At the same time, the low-cost company will activate a new four-year senior secured revolving credit line worths 400 million dollars.

This move will make it possible to "strengthen the financial report and exploit the growth opportunities, arising from the expected recovery in air transport market in the coming years", wrote the air carrier in a statement. Shareholders will be able to purchase 31 new shares for every 47 existing ones at a price of 410 pounds (47.7 euros), each, with a 35.8 percent discount on the theoretical price.

Meanwhile, the title collapsed on the London stock market: it fell 8.9 percent. The cause is linket to the company's announcement that it has rejected a takeover offer. Meanwhile, the passenger traffic prospects remain far below pre-pandemic, as evidenced by the drop of 14 percentage points recorded since the beginning of the 2021.

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AVIONEWS - World Aeronautical Press Agency