EasyJet said to plan $1.4b stock sale for travel rebound

EasyJet plans to raise more than GBP1b from a share sale, as the UK airline prepares to compete for customers amid the tentative return of leisure travel, people familiar with the matter said. The London-listed carrier could announce plans to raise fresh funding from selling equity as well as debt as soon as this week, the people said, asking not to be identified discussing confidential information. No final decisions have been made and the size, structure and timing of any transaction will depend on investor appetite and market conditions, the people said. A representative for EasyJet declined to comment. EasyJet has raised more than GBP5.5b in liquidity since the start of the pandemic as coronavirus shutdowns brought the global airline industry to its knees. The airline will “will continue to review its liquidity position on a regular basis and, as part of the capital structure review, assess all further funding opportunities,” it said in its quarterly earnings note in July. The company’s shares have risen 32% in the last 12 months, giving it a market value of 3.6 billion pounds. <br/>