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IAG rejigs board following Brexit deal, BA gets funding


Updated / Thursday, 31 Dec 2020
16:12
British Airways had received funding of £2 billion for a five-year term loan, which is partially guaranteed by UK Export Finance
Aer Lingus and British Airways owner IAG said today it had changed the composition of its board to ensure a majority of independent EU non-executive directors following Brexit. 
IAG s said the changes will ensure that its EU licensed airlines continue to comply with EU ownership and control rules after the UK leaves the European Union.
The airline group said the remedial plans were approved by national regulators in Spain and Ireland and, as required, the EU has been notified about them.  ....

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British Airways secures £2bn loan facility to be ready for recovery in demand


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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Brexit: Aer Lingus to be 'majority owned and controlled' by Irish trust


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The owner of Aer Lingus has announced changes to its ownership structure, as a result of Brexit.
International Airlines Group (IAG) says it has implemented plans to ensure that its EU licensed airlines continue to comply with EU ownership and control rules .
Under European Union rules, the holder of an operating licence must be majority owned and effectively controlled by member states and/or nationals of member states.
These plans have been approved by national regulators in Ireland and Spain.
They include the implementation of a national ownership structure for Aer Lingus.
IAG says this will be similar to the national ownership structure of Spain s Iberia, which is majority owned and controlled by a Spanish national company. ....

United Kingdom , City Of , Aer Lingus , Eva Castillo Sanz , Peggy Bruzelius , Heather Ann Mcsharry , European Union , British Airways , International Airlines Group , Airlines Group , Ann Mcsharry , Chief Financial Officer Steve Gunning , United Kingdom Trade , Cooperation Agreement , ஒன்றுபட்டது கிஂக்டம் , நகரம் ஆஃப் , ஆர் லிங்கஸ் , ஈவா காஸ்டிலோ ஸ்யாந்ஸ் , ஐரோப்பிய தொழிற்சங்கம் , பிரிட்டிஷ் வானெறிக்குழுப்பெயர் , சர்வதேச விமான நிறுவனங்கள் குழு , விமான நிறுவனங்கள் குழு , தலைமை நிதி அதிகாரி ஸ்டீவ் துப்பாக்கி சூடு , ஒன்றுபட்டது கிஂக்டம் வர்த்தகம் ,