Gatwick Airport Lenders Agree to Temporarily Waive Debt Payments Amid Air Travel Crisis
08 Settembre 2021 - 9:47AM
Dow Jones News
By Cecilia Butini
Vinci SA said Wednesday that the majority of lenders to its
subsidiary London Gatwick Airport have granted it a temporary
waiver to financial covenants as a result of the exceptional
circumstances affecting air travel.
The company won't be required to comply with the senior interest
cover ratio and senior debt ratio at the next two testing points,
at the end of December 2021 and at the end of June 2022, Vinci
said.
London Gatwick Airport had entered into discussions with its
lenders in August to obtain a temporary waiver on the payment of
2.8 billion pounds ($3.86 billion) of reference net debt, Vinci
said.
The company also said that the method for calculating the debt
ratio will be amended until June 2024 in order to adjust for the
impact of the Covid-19 crisis on the airport's earnings before
interest, taxes, depreciation and amortization.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
September 08, 2021 03:32 ET (07:32 GMT)
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