The airline’s parent company IAG said BA intended to use the loan “if and when required and the facility will not be utilised upon signing”.
The agreement is with UK Export Finance (UKEF) and a syndicate of banks for a five-year Export Development Guarantee. It is in addition to a £2 billion UKEF guaranteed facility announced in December 2020 and drawn in March 2021.
IAG said both facilities had “similar sustainability-linked features”.
IAG added: “At the end of September, IAG’s total liquidity was strong at €10.6 billion. This facility further bolsters liquidity.”
A further update will be given to investors and analysts at IAG’s third quarter results announcement on Friday (5 November).
