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British Airways signs additional £1 billion five-year facility
Chicago, Nov. 1 – British Airways plc has signed an additional £1 billion guaranteed five-year committed credit facility, according to a notice.
The airline reached an agreement with UK Export Finance and a syndicate of banks.
The facility is in addition to a previous £2 billion facility that was entered into in December 2020 and drawn in March 2021.
The company only intends to draw down on the facility if and when required.
No part of the facility was not utilized at signing.
Both the existing facility and the new facility have sustainability-linked features.
The credit agreement contains some restrictions on dividend payments to IAG.
British Airways had £10.6 billion of liquidity at the end of September.
The facility can be repaid at any time on notice.
British Airways is an airline based in Waterside, U.K.
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