IAG November traffic statistics
On 12 November, IAG successfully raised €1,000 million in two tranches of senior unsecured convertible bonds due in 2020 and 2022. The bonds were issued to fund IAG's acquisition of Aer Lingus and for general corporate purposes. They will accrue a fixed rate of interest of 0.25 per cent and 0.625 per annum, payable semi-annually in arrears for the 2020 and 2022 bonds, respectively. The conversion price of €13.8 per share represents a premium of approximately 62.5 per cent over the volume weighted average price of the shares on the London Stock Exchange in the period from launch to pricing.
On 17 November, Aer Lingus announced it will re-launch its loyalty programme in partnership with Avios in spring 2016. 'AerClub' members will collect Avios via flights and other partners as well as offering an enhanced choice of travel and leisure rewards.
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