Finnair plans to launch E500m offering in Q2

Finnair expects to launch a E500m rights offering, an amount that exceeds its current equity, in Q2, it said Tuesday. Finnair reported deepening Q1 losses last week and said it planned to raise around E500m through a rights offering, saying it expected to lose around E2m each day this quarter as most of its planes are grounded. It had not unveiled a timeline for the rights offering last week. “The company plans to use the funds raised in the rights offering to strengthen the company’s balance sheet position and liquidity in the exceptional situation caused by the Covid-19 pandemic,” Finnair said Tuesday.<br/>