British Airways, a subsidiary of Anglo-Spanish outfit International Consolidated Airlines Group, has decided to go into the bond market.
While announcing the issue of sterling-secured bonds, the company says it will wait for investor feedback before announcing the timing and terms of the offer.
Bondholders will have the benefit of security over a wholly-owned subsidiary of British Airways called British Airways Limited. The assets include up to 31 daily slot pairs at London Heathrow airport.
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British Airways Limited has also been established as the licensed operator of scheduled services between London City airport and New York JFK airport. It has entered into a joint operation with British Airways with respect to sales, booking, ticketing and slots at London City and London Heathrow.
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