International Airlines Group is launching a senior unsecured convertible bond offer of up to an approximate maximum amount of €400 million to fund its acquisition of Vueling, enhance liquidity and lower its cost of capital.

International Airlines Group has reported a first quarter operating loss of €278 million, before exceptional items, an increase from the €249 million losses reported in the same period a year ago. Losses were largely due to an exceptional charge of €311 million in the quarter, principally relating to restructuring at Iberia.

Opposition Spokesman on Tourism Edmund Bartlett is questioning the profile of the new investors who have purchased The Ritz-Carlton Rose Hall in Montego Bay, St James. The employees were told they would be made redundant.