British Airways-owner IAG boosts liquidity by 2.45 billion pounds

British Airways-owner IAG boosts liquidity by 2.45 billion pounds

British Airways-owner IAG said it raised total liquidity by 2.45 billion pounds (US$3.4 billion), reaching final agreement for a 2 billion pound loan, and through a deal to defer 450 million pounds of pension deficit contributions.

FILE PHOTO: A British Airways plane taxis past tail fins of parked aircraft at Heathrow Airport in
FILE PHOTO: A British Airways plane taxis past tail fins of parked aircraft near Terminal 5 at Heathrow Airport in London, Britain, March 14, 2020. REUTERS/Simon Dawson/File Photo

LONDON: British Airways-owner IAG said it raised total liquidity by 2.45 billion pounds (US$3.4 billion), reaching final agreement for a 2 billion pound loan, and through a deal to defer 450 million pounds of pension deficit contributions.

IAG said in a statement on Monday that it continued to explore other debt initiatives to further improve its liquidity.

(US$1 = 0.7148 pounds)

(Reporting by Sarah Young, editing by Estelle Shirbon)

Source: Reuters

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