British Airways has been given access to an extra $1.38 billion in credit amid the coronavirus crisis.
The airline’s owner, International Airlines Group (IAG), has announced that BA’s Revolving Credit Facility has been extended for a year from 23 June 2020 to 23 June 2021.
This means it can borrow an extra $1.38 billion if needed during that time frame.
IAG has cash, cash equivalents and interest-bearing deposits of €7.2 billion on 27 March, it said, and total liquidity reaching €9.3 billion.
This comes as airlines across the world struggle to manage depressed passenger numbers amid the Covid-19 pandemic, which has seen numerous countries go into lockdown.