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BA secures extra billion-pound loan
British Airways has landed an extra £1 billion in loans from UK Export Finance. It follows the £2 billion it received in December 2020 and drew down in March 2021.
It bolsters the company’s bottom line but it doesn’t need it right away. It will be used ‘only if and when required,’ BA said. The new guaranteed five-year credit facility adds to parent IAG’s liquidity of €10.6 billion. IAG is due to presents its Q3 results later this week.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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