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British Airways Finalizes Negotiations over £2bn State Loan

MIAMI – British Airways (BA) has completed talks on two funding agreements to raise the liquidity of the airline by £2.45bn (US$3.4bn).

The first funding involves a £2bn (US$2.8bn) loan, as BA concluded talks with the UK Export Finance (UKEF), the export credit agency of the British government. The five-year term Export Development Guarantee loan will be partially guaranteed by UKEF and endorsed by a “bank syndicate,” according to an IAG release, BA’s parent company.

As reported by aerotime.aero, the release states that “The British airline expects the facility to be decommissioned before the end of February 2021.”

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Source:: “Airways Magazine”

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