EasyJet has secured a £1.4 Billion government-backed loan to help it survive the current Covid pandemic.
The airline said the loan will ‘significantly extend and improve EasyJet’s debt maturity profile and strengthen easyJet’s balance sheet by increasing the level of available liquidity’.
Johan Lundgren, easyJet CEO said: “This facility will significantly extend and improve EasyJet’s debt maturity profile and increase the level of liquidity available. EasyJet has taken swift and decisive action, having now secured more than £4.5bn in liquidity since the beginning of the pandemic.
“The loan facility, provided on commercial terms, reflects constructive and collaborative work between EasyJet, multiple banks and UK Export Finance.
“With our unmatched short haul network and trusted brand, EasyJet is well positioned as customers return to the skies in 2021.”