Airline owner IAG has received new loans worth 2 billion pounds, according to a press release.
To enable the loan, British Airways, owned by IAG, has reached an agreement to postpone the maturity date of pension liabilities, thereby freeing up liquidity by 2.5 billion pounds.
IAG reached an agreement with banks in December for a five-year credit facility worth £2 billion. Agreements have now also been reached with the UK government's Export Finance Programme, which will provide part of the loan.
”"IAG continues to evaluate other debt initiatives to improve liquidity," the company writes.
Source: Direct News Agency
