Month: February 2021

Gallego sees Air Europa deal more likely to close in late 2021

IAG chief executive Luis Gallego expects completion of the group’s planned acquisition of Spanish carrier Air Europe to be nearer to year-end, having set a second-half target to close the delayed deal. The Iberia and Vueling parent had originally struck an agreement in 2019 to acquire Air Europa before the coronavirus crisis hit the proposed …

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British Airways secures £2bn loan facility from 11 banks

HSBC, Deutsche Bank, Credit Suisse, Standard Chartered, Santander and Citi are among the 11 banks in the syndicate that has extended a £2 billion (£2.8 billion) guaranteed loan facility to IAG-owned British Airways, Cirium understands. The six banks are the lead arrangers in a previously announced five-year loan facility partially guaranteed by the UK Export Finance (UKEF), …

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Michael O’Leary – Ryanair

Most analysts will tell you that low-cost carriers with significant exposure to leisure markets are best placed to lead Europe’s airline industry out of the pandemic. There is perhaps no better bellwether carrier, then, than the giant Irish operator, with its bases across the continent. Towards the end of 2020, Ryanair’s group chief executive …

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