Finnair launches €570 million rights offering

Finnair approved a €570 million fully underwritten rights offering on October 27, with pre-emptive rights for existing shareholders and a maximum of 19,012,413,069 new shares.    The rights issue is aimed at reducing Finnair’s financing costs, support strategy execution to drive sustainable profitable growth, and ensure ability for future investments. Through the rights issue Finnair says that it is also seeking to reinstate the company’s ability for shareholder distributions.  Finnair will use the net proceeds to pay the portion of the €400 million capital loan, which together with the earlier redemption on 1 September 2023 of the company’s €200 million hybrid