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British Airways secures £2 45bn liquidity boost thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
British Airways has boosted its liquidity by £2.45 billion as it tries to weather the coronavirus pandemic.
Owner International Airlines Group (IAG) said the airline has reached final agreement on a £2 billion loan underwritten by a syndicate of banks and partially guaranteed by the Government’s UK Export Finance (UKEF).
The carrier expects to draw down from the five-year loan before the end of next month.
British Airways has also reached agreement with the trustee of a pension scheme to defer £450 million of pension deficit contributions due between October 2020 and September 2021.
It was due to fill the hole in its pension pot by March 2023, but the deferred contributions plus interest will be made as monthly repayments after this date.
British Airways secures £2 45bn liquidity boost borehamwoodtimes.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from borehamwoodtimes.co.uk Daily Mail and Mail on Sunday newspapers.
British Airways secures £2 45bn liquidity boost sloughobserver.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sloughobserver.co.uk Daily Mail and Mail on Sunday newspapers.