BA parent IAG confirmed on Monday (4 January) it had received the necessary commitments and hoped to draw the facility immediately, subject to final terms.
The £2 billion cash injection has been underwritten by a syndicate of banks and is partially guaranteed by the state-backed UK Export Finance agency.
The UKEF is the UK’s export credit agency; its export development guarantee is designed to support the working capital and capital expenditure needs of UK exporters.
BA can repay the loan at any stage of the five-year term.
