IAG agrees Aer Lingus funding deal with Banco Santander

Spain’s Banco Santander has agreed to join other banks in the provision of a €1.4 billion loan to IAG to help it fund its proposed takeover of Aer Lingus.

The aviation giant, which owns British Airways and Iberia, is set to buy Aer Lingus through a new subsidiary company Aer Lingus Holding Limited. The Government will receive €335m for its stake in Aer Lingus but will retain one share in the airline, a ...