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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
BS
-
Pension frenzy: 55-year-olds taking lump sums surges – three things to consider before withdrawing earlyLooming inheritance tax rule changes are expected to trigger more demand for pension cash among younger retirees in coming years, prompting experts to warn they could run out of money
-
5 reasons why now is the time to audit your savings and investmentsLast-minute decisions made in April’s rush towards the end of the financial year could cost you
