Trending Today:
Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project
PIA Resumes | Lahore-Paris Flights After 5 Years
Etihad Goes | Four Daily To Karachi
  • Aviation
    • Airlines
    • Airports
    • CAA
    • PIA
  • Hotel/Lodges
    • Destination Pakistan
    • Events
    • Food & Beverages
    • Restaurants
  • Pakistan Tourism
    • News
    • Expos & Events
    • Rails & Roads
    • Mountains
    • Organizations
  • International Tourism
    • Cruises
    • Destination
    • Expo & Events
    • News
    • News Destination
    • Organizations
    • Technology
  • Advertise
  • E-papers
  • Newsletter
  • Aviation
    • Airlines
    • Airports
    • CAA
    • PIA
  • Hotel/Lodges
    • Destination Pakistan
    • Events
    • Food & Beverages
    • Restaurants
  • Pakistan Tourism
    • News
    • Expos & Events
    • Rails & Roads
    • Mountains
    • Organizations
  • International Tourism
    • Cruises
    • Destination
    • Expo & Events
    • News
    • News Destination
    • Organizations
    • Technology
  • Advertise
  • E-papers
  • Newsletter
Home»Airlines»British Airways Secures | £1bn Government-Backed Loan
Airlines

British Airways Secures | £1bn Government-Backed Loan

holidayweeklyBy holidayweeklyNovember 4, 2021No Comments
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

LONDON: British Airways has signed an agreement with the UK government for a £1 billion loan. The deal, with UK Export Finance (UKEF) and a syndicate of banks, was confirmed by the owner International Airlines Group (IAG) earlier.

It will take the form of a five-year export development guarantee committed credit facility (UKEF Facility). The cash comes in addition to a £2 billion UKEF guaranteed facility that was announced in December last year and drawn in March.

“British Airways intends to draw down only if and when required and the facility will not be utilized upon signing,” a statement explained.

Similar to the previous facility, British Airways is entitled to repay any drawn loan at any time on notice and there are similar non-financial covenants, including restrictions on dividend payments to IAG.

At the end of September, IAG said it had a total of €10.6 billion.

The group, which also includes Aer Lingus and Iberia will update investors and analysts in its third-quarter results announcement on November 5th.

Post Views: 5
volume 93-2021
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
holidayweekly
  • Website

Related Posts

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

Etihad Goes | Four Daily To Karachi

June 15, 2025

Uzbekistan To Launch | Direct Flights To Pakistan On June 14th

June 14, 2025
Leave A Reply Cancel Reply

Top Posts

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

Time to meet the Muppets on the Muppet

July 12, 2018

The world don’t move to the beat

July 12, 2018

You would see the biggest gift woud be from me and the card

July 12, 2018
Don't Miss
Airports

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

By holidayweeklyJune 26, 2025

GILGIT-BALTISTAN: The government has formally launched the upgrade project of Skardu International Airport, marking a…

PIA Resumes | Lahore-Paris Flights After 5 Years

June 22, 2025

Etihad Goes | Four Daily To Karachi

June 15, 2025

Uzbekistan To Launch | Direct Flights To Pakistan On June 14th

June 14, 2025
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Email Us: info@example.com
Contact: +92 321 9264 080

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

PIA Resumes | Lahore-Paris Flights After 5 Years

June 22, 2025

Etihad Goes | Four Daily To Karachi

June 15, 2025
Most Popular

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

Time to meet the Muppets on the Muppet

July 12, 2018

The world don’t move to the beat

July 12, 2018
© 2025 Weekly Holiday. Designed by Haseeb Ansari.

Type above and press Enter to search. Press Esc to cancel.