- In May 2013, Group traffic measured in Revenue Passenger Kilometres increased by 7.4 per cent versus May 2012 (down 0.3 per cent on a pro-forma basis); Group capacity measured in Available Seat Kilometres rose by 6.3 per cent (down 1.8 per cent on a pro-forma basis).
- Group premium traffic for the month of May decreased by 2.9 per cent compared to the previous year, but traffic and load factor were affected by an earlier UK half term and an additional bank holiday compared to last year.
- Underlying market conditions remain unchanged from those described at the publication of Quarter One results on 10th May.
June 5th, 2013
On May 14th, IAG successfully raised €390 million in a senior unsecured convertible bond. The bonds were issued to fund its acquisition of Vueling, enhance liquidity and lower its cost of capital. They will accrue a fixed rate of interest of 1.75 per cent per annum, payable semi-annually in arrears. The conversion price of €4.25 represents a premium of approximately 35 per cent over the volume weighted average price of ordinary IAG shares on the London Stock Exchange from launch to pricing.
On May 24th, IAG's subsidiary Vueling called a general shareholders' meeting for June 27, 2013 to approve the delisting of Vueling's shares from the Spanish stock exchanges. The delisting tender offer will be €9.25 per share. Vueling will be delisted from the Barcelona, Bilbao, Madrid and Valencia stock exchanges upon successful completion of the offer. Since April 26th 2013, IAG Group has owned 90.51 per cent of Vueling.