Manchester Airport Grp Funding PLC Secured Creditor Quarterly Update (9459T)

TIDM38LZ

RNS Number : 9459T

Manchester Airport Grp Funding PLC

30 March 2021

Issuer: Manchester Airport Group Funding PLC

Date: 30 March 2021

Manchester Airport Group Funding PLC

Company No. 8826541

Secured Creditor Quarterly Update

Pursuant to paragraph 11 (Update Calls) of Part 1 (Information Covenants) of Schedule 2 (Security Group Covenants) to the Common Terms Agreement (added pursuant to the Amendment and Waiver Deed dated 26 June 2020 between, among others, Manchester Airport Group Investments Limited and Citicorp Trustee Company Limited), Manchester Airport Group Funding PLC (the "Issuer") today announces that the March 2021 Secured Creditor Quarterly Update Call shall be deferred until after 12 April 2021, the date upon which The Global Travel Taskforce will report to the Prime Minister with recommendations aimed at facilitating a return to international travel. Following that, the UK Government will determine when international travel should resume, which will be no earlier than 17 May.

The Security Group Agent will provide an update to Secured Creditors after 12 April 2021 setting out forward looking liquidity estimates that consider Government's plan for resumption of international travel, together with latest information from airlines following such announcement and the progress of vaccine rollout programmes both in the UK and Issuer's key markets.

As at 29 March 2021 the group had unaudited cash and cash equivalents of GBP570m.

Capitalised terms used in this announcement and not defined herein have the meanings ascribed to them in the Prospectus of the Issuer dated 25 April 2019.

Enquiries:

   Investor Relations   investor.relations@magairports.com 
   MAG Press Office    press.office@magairports.com

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March 30, 2021 04:10 ET (08:10 GMT)

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