The first major UK airline bailout has taken place, says Gwyn Topham in The Guardian. No-frills carrier easyJet has secured a £600m loan from the Treasury and Bank of England’s emergency coronavirus fund. It has also promised to borrow another £407m from commercial creditors.
Nonetheless, easyJet’s founder Stelios Haji-Ioannou still thinks that it still could run out of cash in the near future, insisting that predictions that large-scale international flights could resume by June are “wildly optimistic”. He thinks that the loan simply “pushes the insolvency boundary back from August to late-autumn, early winter”.
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