British Airways extends US dollar revolving credit facility
British Airways has extended its US dollar secured revolving credit facility for a year to 23 June 2021.
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Parent company International Consolidated Airlines said on Monday that the amount available under the extended facility is $1.38bn. Including the extended facility and some smaller additional facilities recently arranged, IAG now has total undrawn general and committed aircraft financing facilities equivalent to €2.1bn, compared to €1.9bn at the end of last year.
The company, which also owns Iberia and Aer Lingus, said it has not drawn down on any of its facilities.
IAG said it continues to have "strong" liquidity, with cash, cash equivalents and interest-bearing deposits of €7.2bn as at 27 March. Total cash and undrawn facilities are currently €9.3bn.
"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," it said.