International Consolidated Airlines Group (IAG), the parent company of British Airways, has said that it is amending the financing arrangements pertaining to its offer for Irish carrier Aer Lingus.
In a statement, IAG said that it has secured a bridge facility, or short-term loan, from Santander to back the group’s EU1.4 billion offer for the airline.
Under the terms of the offer, which were published last week, IAG has offered €2.50 per Aer Lingus share, plus a cash dividend of €0.05 per share.
The Irish government has already waved the deal through, with the expectation that it would create over 600 jobs by 2020.
