EasyJet Reports 93 Percent Take-Up of $1.6 Billion Rights Issue

LONDON—British airline easyJet said its investors had bought 93 percent of the new shares on offer in its 1.2 billion pound ($1.64 billion) rights issue, designed to help fund its recovery from the pandemic. The airline announced the cash call, its second during 18 months of COVID-19, earlier this month, at the same time as revealing it had rejected a takeover approach from an unnamed suitor, believed to be low cost rival Wizz Air. EasyJet’s chief executive, Johan Lundgren, said the extra funds would enable it to take advantage of new opportunities likely to arise as carriers like British Airways-owner IAG, Air France-KLM, and Lufthansa retreat. “The success of this capital raise, thanks to great support from investors, will enable easyJet to strengthen its balance sheet and accelerate its post-COVID 19 recovery plan,” he said in a statement on Tuesday. The airline’s biggest shareholder, the family of founder Stelios Haji-Ioannou, …

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British Army Drivers on Standby to Deliver Fuel

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