UPDATE 1-UK tells airlines to try raising own capital before state will help -source [Reuters]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Reuters
UPDATE 1-UK tells airlines to try raising own capital before state will help -source (Adds detail, background, airline responses) LONDON, March 24 (Reuters) - Britain has told airlines that state investment to help them survive the coronavirus crisis will only be considered once they have looked at the possibility of raising capital from existing investors, a person familiar with the situation said. UK finance minister Rishi Sunak has written to airlines and airports to set out how they could benefit from a government help package for businesses set out last week, the person familiar with the situation said. “The government expects the sector to look at raising capital from existing investors,” the person added. UK-based airlines easyJet and Virgin Atlantic asked for government support earlier in March to help them survive a period when air travel has come to a standstill. But IAG, the parent company of British Airways, has not asked for any help and has long been a vocal opponent of
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