Finnair has revealed that its rights issue – which was slightly oversubscribed – has raised just over E570m in gross proceeds, including a E318m commitment from the Finnish government. Net proceeds from the issue are around E558m. The carrier had disclosed plans for a new share issue in October, intending to use the proceeds to repay a capital loan and cut financing costs. Provisional results from the offering, which closed on 17 November, indicate demand for just over 19b shares – of which 95% came from exercise of subscription rights. The Finnish government’s contribution will offset an equivalent sum from a capital loan and, as a result, will not generate gross cash proceeds for the airline. Of the total net figure raised, around E240m will be cash. The carrier says that, along with lower financing costs, the share issue will reinforce its position and help support its strategic efforts to reach sustainable profitability. Finnair’s overall share circulation will increase to about 20.4b.<br/>
oneworld
Qatar Airways has been renewed as the airline sponsor for the men’s World Cup in 2026 in North America and the 2030 tournament expected to be in Europe, Africa and South America, FIFA said Wednesday. The state-owned airline initially had a two-tournament deal for the 2018 World Cup in Russia and the 2022 edition in Qatar. The World Cup airline slot should next be vacant for the 2034 tournament, which is expected to be hosted by Saudi Arabia. The Saudis plan to launch a second national carrier called Riyadh Air. The value of the new Qatar Airways deal was not disclosed but is likely worth hundreds of millions of dollars. At World Cup finals, trophy and medal presentation assistants are dressed in the airline’s uniform. The airline was among seven top-tier men’s World Cup sponsors in the 2019-2022 commercial cycle, which FIFA said earned almost $1.8b in total marketing rights sales. It includes selected FIFA youth tournaments and the 2027 Women’s World Cup, which will have a host chosen in May. The 2026 World Cup will be the first expanded tournament with 48 teams instead of 32, playing 104 games instead of 64, and sending teams, fans and officials across 16 cities in the United States, Canada and Mexico.<br/>