EasyJet to raise about $1.4 billion to tap travel rebound – Bloomberg News

FILE PHOTO: An Easyjet Airbus aircraft taxis close to the northern runway at Gatwick Airport in Crawley, Britain, August 25, 2021. REUTERS/Peter Nicholls

(Reuters) – EasyJet Plc is planning to raise more than 1 billion pounds ($1.38 billion) through a share sale, as the British airline prepares to compete for customers amid a tentative return of leisure travel, Bloomberg News reported on Wednesday.

The budget airline’s plan to raise fresh funding by selling equity as well as debt could be announced as soon as this week, the report said here, citing people familiar with the matter.

EasyJet declined to comment on the report.

No final decisions have been made, the report said, adding that the size, structure and timing of any transaction will depend on investor appetite and market conditions.

Earlier this year, the company had raised 1.2 billion euros from a seven-year bond sale.

In July, EasyJet said it planned to fly at 60% of its pre-pandemic capacity between July and September, compared with 17% of 2019 levels in the previous quarter, after it shed staff, cut its fleet and took on new debt to survive the crisis.

($1 = 0.7256 pounds)

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