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British Airways secures £2bn loan facility to be ready for recovery in demand
British Airways is able to repay the loan at any time with notice (Tim Ockenden/PA)
British Airways has secured a £2 billion loan to help it weather the pandemic and be ready for a recovery in demand.
The carrier’s owner International Airlines Group (IAG) – which also owns Iberia and Aer Lingus – said the five-year loan facility was underwritten by a syndicate of banks and is partially guaranteed by the Government’s UK Export Finance (UKEF).
BA, which is set to drawdown from the loan in January, is able to repay the loan at any time with notice, but is bound by some restrictions on dividend payments by the airline to IAG. ....

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