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EasyJet lands $1.87 billion state-backed loan as it looks to ease COVID cash crunch


Budget airline easyJet

secured a $1.87 billion loan on Monday as it looks to ease investor concerns about its balance sheet, which has been devastated by an unprecedented slump in global demand for travel amid the COVID-19 pandemic.

The five-year loan facility has been underwritten by a syndicate of banks and is backed by a program from U.K. Export Finance, which includes some restrictions around future dividend payments, easyJet

said in a statement on Monday.

Shares in easyJet fell more than 1% in London trading on Monday.

European airlines like easyJet, already struggling from the loss…


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