EasyJet PLC said Thursday that it would launch a fully underwritten rights issue to raise 1.2 billion pounds and that it has secured a new $400 million credit line to repair its balance sheet and invest in growth.
"The board has concluded that raising additional equity will protect easyJet's long-term positioning in the European aviation sector and support growth as new opportunities arise from the Covid-19 pandemic," the company said. "The potential bidder has since confirmed that it is no longer considering an offer for the company," easyJet said.
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