IAG Secures Finance For Aer Lingus Takeover

Airline group IAG has acquired a bridge loan to support its €1.4bn ($1.6bn) takeover of Irish carrier Aer Lingus. IAG, the parent company of British Airways and Iberia, confirmed today (June 23) that it had secured the facility from Spanish bank Banco Santander.

Airline group IAG has acquired a bridge loan to support its €1.4bn ($1.6bn) takeover of Irish carrier Aer Lingus. IAG, the parent company of British Airways and Iberia, confirmed today (June 23) that it had secured the facility from Spanish bank Banco Santander.

IAG said Santander joins Deutsche Bank Luxembourg, Bank of America and British Airways in providing a loan which will be repayable on May 26, 2016.

The announcement follows IAG confirming last week that it plans to acquire Aer Lingus through the formation of a new subsidiary.

 

TAGS: Europe
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