British Airways sets drawdown date for £2bn UK-backed loan

Adobestock_British Airways_575x375_Feb21
By Mike Turner
22 Feb 2021

British Airways will draw on its £2bn UK government-backed facility by the end of this month, as its owner International Airlines Group continues to look at other debt options to improve its liquidity.

British Airways had initially planned to draw down on the five year loan last month, but getting agreement with state agency UK Export Finance and the syndicate of banks providing the money took until February.

The company will use the funding for “operational and strategic flexibility” as the company ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial