IAG Makes Changes After Brexit, While British Airways Gets A 2.23 Bn Loan
Following the Brexit deal, IAG has had to implement plans to ensure ownership and control, guaranteeing the EU license of the various airlines. These include the creation of a national ownership structure for Aer Lingus and changes to the existing one in Spain. In addition, IAG is still exploring ways to improve its liquidity position. In this regard, British Airways has received commitments for a 5 year early repayment loan from UK Export Finance valued at £2bn. At the close of November 30, IAG had a liquidity position of £8bn, which did not include this loan from UKEF.