BA looks to raise millions through bond issue
British Airways is aiming to raise $927 million (approx £603 million) via a new-style bond issue, using 14 aircraft as collateral.
The airline tried a similar move last year, to raise £250 million, but failed to find enough demand for the bonds.
However, last year it was aiming to use its Heathrow take-off and landing slots as collateral; this year the loans will be secured against 14 aircraft consisting of six new Boeing 787s, two 777s and six new Airbus A320s, due for delivery over the next 12 months.
The bonds, known as Enhanced Equipment Trust Certificates are a form of financing commonly used by US airlines but not previously used in the UK.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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