London Gatwick Airport, Lenders Agree to Temporarily Waive Financial Covenants
September 22 2020 - 1:29PM
Dow Jones News
By Mauro Orru
Vinci SA said Tuesday that London's Gatwick airport and its
lenders reached an agreement to temporarily waive the airport's
financial covenants.
The airport--which is owned by Vinci's subsidiary Vinci Airports
and a consortium of investors managed by Global Infrastructure
Partners--swung to a loss for the first half of the year as revenue
plunged amid a drop in passenger numbers due to coronavirus-related
travel restrictions.
The airport, the U.K.'s second largest, unveiled plans in late
August to cut around 600 jobs.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
September 22, 2020 13:14 ET (17:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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