The flag carrier Finnair organized a rights offering in the summer of 2020 as a part of its recapitalisation plan. The aim of the offering was to strengthen Finnair’s equity and liquidity position in an exceptional situation caused by the coronavirus pandemic and to support the execution of the company’s strategy.
The global situation disturbed by the coronavirus and the restrictions imposed to control the disease had a major impact on travel in early 2020. In the communication and marketing of the rights offering organized during the crisis, it was essential to reduce investors’ uncertainty about the viability of Finnair’s operational capacity and success factors in a challenging situation, and about the future of the entire air traffic industry. It was also important to comprehensively reach Finnair’s shareholder base of more than 40,000 people and to make participating in the rights offering as easy as possible. Simultaneously, marketing and communications had to support Finnair’s strong story and brand even in an unusual situation.
Together with Finnair, Miltton planned and implemented a broad marketing and communications campaign for the rights offering. The base for all communications was the campaign concept created by Miltton: Stronger towards future travels. The whole included print and digital advertising, a marketing brochure and letter distributed to the shareholders, a website and strategic messaging for an online retail roadshow. Miltton also monitored the private investor sentiment throughout the offer period in order to be able to respond effectively to any questions arising from the investor field.
The rights offering was oversubscribed by approximately 10 per cent and it brought the company gross proceeds of about EUR 512 million. The successful rights offering was an indication of investor’s trust and confidence in Finnair’s success even after the challenging times.
Antti Salomaa will be happy to tell you more.