{"id":107285,"date":"2021-03-23T20:26:24","date_gmt":"2021-03-23T20:26:24","guid":{"rendered":"https:\/?p=107285"},"modified":"2021-03-23T20:26:27","modified_gmt":"2021-03-23T20:26:27","slug":"iag-secures-1-76-billion-in-credit-to-bolster-finances-of-its-airlines","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2021\/03\/iag-secures-1-76-billion-in-credit-to-bolster-finances-of-its-airlines.html","title":{"rendered":"IAG secures $1.76 billion in credit to bolster finances of its airlines."},"content":{"rendered":"\n

IAG Group said on Tuesday it had secured a $1.76 billion credit facility from a group of banks that would be available to its coronavirus-hit airlines Aer Lingus, British Airways and Iberia.<\/p>\n\n\n\n

The company said in a statement on Tuesday that the three airlines would have a separate borrowing limit within the overall three-year facility.<\/p>\n\n\n\n

See also:<\/strong> British Airways says will not retire its Airbus A380s.<\/a><\/em><\/p>\n\n\n\n

\u201cAmounts drawn would be secured against eligible unencumbered aircraft assets and take-off and landing rights at both London Heathrow and London Gatwick airports,\u201d it said.<\/p>\n\n\n\n

IAG also said that British Airways had simultaneously cancelled its U.S. dollar facility, which had $786 million available at December-end and was due to expire on June 23.<\/p>\n\n\n\n

IAG\u2019s total liquidity is estimated to be 10.3 billion euros ($12.22 billion) as of March 31, it said.<\/p>\n\n\n\n

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