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British Airways extends revolving credit facility

IAG continues to have strong liquidity with cash, cash equivalents and interest-bearing deposits of 7.2 billion euros as at 27 March. Total cash and undrawn facilities are currently 9.3 billion euros.

International Airlines Group (IAG) announces that British Airways has extended its US dollar secured Revolving Credit Facility for one year from 23 June 2020 to 23 June 2021. The amount available under the extended facility is $1.38 billion. Including the extended facility and some smaller additional facilities recently arranged, IAG has total undrawn general and committed aircraft financing facilities equivalent to 2.1 billion euros currently, compared to 1.9 billion euros at the end of 2019. IAG has not drawn down on any of its facilities.

IAG continues to have strong liquidity with cash, cash equivalents and interest-bearing deposits of 7.2 billion euros as at 27 March. Total cash and undrawn facilities are currently 9.3 billion euros.

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.

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Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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