EasyJet secures £1.4bn state-backed bailout to help…

EasyJet secures £1.4bn state-backed bailout to help survive the coronavirus pandemic
2021-01-09 18:22:00
EasyJet has got a £1.4 billion 5-year state-backed loan to help it survive Covid. The loan has been underwritten by a group of banks; it is part-guaranteed by UK Export Finance, a government agency.  Easyjet will not be able to pay dividends for the term of the loan under conditions it has agreed. The loan has been secured against aircraft, and it means the airline can reduce its £369m overdraft and deal with its other loan of £400m. This is the second British airline to get a loan part guaranteed by the UK government, as British Airways got theirs a few days earlier.  Easyjet’s boss said the airline has “now secured more than £4.5billion in liquidity since the beginning of the pandemic.”  The airlines are all hoping by the second half of 2021, enough people will be vaccinated that they will start flying – in their droves – once again. If there is not such a recovery, some airlines may not survive.  .Tweet     EasyJet secures £1.4bn state-backed bailout to help survive the coronavirus pandemic Five-year loan underwritten by group of banks and part financed by UK Export Finance By MATT OLIVER FOR THE DAILY MAIL 8 January 2021 EasyJet last night secured a £1.4billion state-backed bailout to help the struggling budget airline survive the pandemic. The firm said the five-year loan had been underwritten by a group of ban

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