Name: British Airways owner IAG says pensions deal, loan help boosts liquidity
Uploaded: 2021-02-23T18:46:31.000Z
Duration: 59 s
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many British Airways planes have bean parked for months.

That means they're costing money, not earning money for parent firm I A G.

Past perfect

On Monday, the group said it had secured another $3.4 billion to tide it through the tough times.

It's raising the money through alone and deferred pension contributions.

Like all airlines, I A G has bean burning through cash after almost a year with minimal revenues.

It scrapped it's dividend last April and raised billions in October to help it survive.

Countries around the world have tightened travel restrictions in recent months, and it remains unclear when demand will revive I.

A G also owns airlines, including Spain's Iberia and Ireland's Air Lingus.

In a statement, the firm said it was looking at other debt initiatives to boost its finances.

 I EG shares rose around 2% in early trade Monday. 