British Airways-owner IAG plans to raise about €1bn ($1.2bn) through a bond issue, which it said would help see it through if the pandemic-driven travel downturn lasts longer than expected. Airlines are counting on a summer travel reboot after a year of minimal income due to coronavirus restrictions, but rising case numbers in some countries and delays to the vaccine roll-out in Europe could derail the recovery. IAG, which also owns Iberia and Vueling in Spain and Aer Lingus in Ireland, said last month it had liquidity to ride out the crisis, but yesterday decided to add to its war chest. It said the proceeds from the bonds could be used to withstand a more prolonged downturn or provide “fl
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