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Ryanair Secures $726 Million Loan

 

Irish airline, Ryanair, is expected to receive
$726 million loan from the UK government.

The loan is funded through the government’s coronavirus relief program.

This is according to an article published by Bloomberg.

The relief package is backed by the Bank of England and is available to companies in any industry spanning from retail to construction to airlines themselves as long as a certain investment credit rating criterion is met.

Ryanair which announced recently that the year ahead will be a difficult one, is the eligible category.

As such, it is set to increase its cash reserves to $4.4 billion (€4.1 billion).

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