British Airways has extended its US dollar secured revolving credit facility for one year. The move, confirmed by International Airlines Group (IAG), will take effect from 23 June.
The amount available under the extended facility is USD 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 EUR 2.1 billion (USD 2.31 billion) currently, compared to EUR 1.9 billion (USD 2.09 billion) at the end of 2019.
IAG has not drawn down on any of its facilities. It continues to have strong liquidity with cash, cash equivalents and interest-bearing deposits. 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.
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