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Its plan includes the implementation of a national ownership structure for Aer Lingus and changes to its long-standing ownership structure in Spain, IAG said.
“It is disappointing that it has become necessary to make these changes to the Board. However, we are pleased that the EU-UK Trade and Cooperation Agreement recognises the potential benefits of further liberalisation of airline ownership and control,” Chairman Antonio Vázquez said.
Britain agreed a trade deal on Dec. 24 and set out the terms of its new relationship with the EU following their divorce earlier this year.
The company also said British Airways has received two billion pounds ($2.73 billion) as a five-year term loan, partially guaranteed by UK Export Finance.
The deal commitment has some non-financial covenants, including restrictions on dividend payments by the airline to IAG, the company said.
($1 = 0.7334 pounds)
