International Cons Airlines Group British Airways extends revolving credit facility (0696I)
30 Marzo 2020 - 01:16PM
UK Regulatory
TIDMIAG
RNS Number : 0696I
International Cons Airlines Group
30 March 2020
British Airways extends Revolving Credit Facility
International Airlines Group (IAG) announces that British
Airways has extended its US dollar secured Revolving Credit
Facility for one year from 23 June 2020 to 23 June 2021. The amount
available under the extended facility is $1.38 billion. Including
the extended facility and some smaller additional facilities
recently arranged, IAG has total undrawn general and committed
aircraft financing facilities equivalent to EUR2.1 billion
currently, compared to EUR1.9 billion at the end of 2019. IAG has
not drawn down on any of its facilities.
IAG continues to have strong liquidity with cash, cash
equivalents and interest-bearing deposits of EUR7.2 billion as at
27 March. Total cash and undrawn facilities are currently EUR9.3
billion.
In addition, the Group is exploring a number of operational and
treasury initiatives to improve further its cash flow and liquidity
and will update the market in due course.
Stephen Gunning
Chief Financial Officer
30 March 2020
LEI: 959800TZHQRUSH1ESL13
This announcement contains inside information and is disclosed
in accordance with the Company's obligations under the Market Abuse
Regulation (EU) No 596/2014.
This information is provided by RNS, the news service of the
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END
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