Copenhagen Kastrup Airport CEO: Airport relying on borrowed funds to stay operational

    Copenhagen Kastrup Airport (CPH) CEO Thomas Woldbye said (18-May-2021) the airport is still relying on borrowed funds to stay operational month to month. The airport drew a further DKK500 million (EUR67.2 million) on its credit facilities in 1Q2021. CPH is negotiating an extension of up to 18 months of the DKK6 billion (EUR806.9 million) credit facilities agreement entered into in May-2020, as well as an extension of the current loan covenant waiver agreement with existing lenders. Mr Woldbye added: “The credit facilities agreement with our lenders saw us through 2020, as we had to draw down just under DKK1.4 billion (EUR188.3 million)”. CPH is operating at below 10% of normal capacity. [more – original PR]

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