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AIRLIVE > All articles > News > easyJet secures £600 million in government funding
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easyJet secures £600 million in government funding

AIRLIVE contibutors
Last updated: April 7, 2020, 11:47 UTC
Published: Tuesday, April 7, 2020, at 11:47 UTC
Category: News
Author: AIRLIVE contibutors
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easyJet has issued £600 million of commercial paper through the Covid Corporate Financing Facility.

The decision comes as the low-cost carrier seeks to maximise its liquidity in the wake of the coronavirus pandemic.

The airline has currently suspended virtually all flights, and there is a growing concern over the financial impact of an extended grounding.

easyJet has also issued a utilisation request to fully draw down on its $500 million revolving credit facility, secured against its planes.

As a result of these two moves, easyJet is expected to have access to cash reserves of £2.3 billion by Thursday.

ByAIRLIVE contibutors
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