International Consolidated Airlines Group, S.A. ('IAG'), pursuant to article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council on Market Abuse and article 226 of the Restated Text of the Spanish Securities Market Act approved by Royal Legislative Decree 4/2015, of 23 October and related provisions, hereby communicates the following

IBERIA AND VUELING SIGN SYNDICATED LOAN AGREEMENTS

International Airlines Group (IAG) announces that IBERIA LINEAS AEREAS DE ESPANA S.A. OPERADORA, SOCIEDAD UNIPERSONAL ('Iberia') and VUELING AIRLINES, S.A. ('Vueling') have signed syndicated financing agreements for EUR750 million and EUR260 million respectively.

The banks involved in the syndicated agreement will ask the Instituto de Credito Oficial (ICO) to grant guarantees for these loans and the financing is conditional on those guarantees being made available. The arrangement is within the legal framework set up by the Spanish government to mitigate the economic impact of COVID-19.

The financing arrangements have a five-year term, amortising from 30 April 2023, but are repayable at any time on notice from Iberia or Vueling respectively. They contain a number of non-financial covenants to protect the position of the banks, including restrictions on the upstream of cash to the rest of the IAG companies.

Stephen Gunning

Chief Financial Officer

1 May 2020

LEI: 959800TZHQRUSH1ESL13

This announcement contains inside information and is disclosed in accordance with the Company's obligations under the Market Abuse Regulation (EU) No 596/2014.

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