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BA reveals innovative aircraft facility
01 December 2005
British Airways (BA) has announced an innovative standby facility that allows it to use a range of aircraft types to back the deal.
PK Airfinance and Spectrum Capital jointly arranged the $420 million facility that can be drawn at any time over the next five years. Spectrum also advised the airline, with PK Airfinance the sole lender.
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British Airways
British Airways (BA) has announced an innovative standby facility that allows it to use a range of aircraft types to back the deal.
PK Airfinance and Spectrum Capital jointly arranged the $420 million facility that can be drawn at any time over the next five years. Spectrum also advised the airline, with PK Airfinance the sole lender.
British Airways can use the cash for any purpose and repay the loan at any time.
Although British Airways has used stand-by facilities in the past, the key breakthrough with this deal is the freedom that the airline has when choosing which aircraft secure the loan.
The carrier...
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