Esken battens down in Southend for air travel recovery

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() announced it has agreed a GBP125mln loan facility with Carlyle Global Infrastructure Fund (CGI).

The facility can be converted into 29.9% of the entire issued share capital of London Southend Airport Company Ltd, a subsidiary of Esken.

The transaction will provide funding of GBP100mln after GBP20mln will be ring-fenced to support London Southend Airport (LSA) for three years.

Esken said it will use it to repay the outstanding amounts payable under an existing facility that totalled GBP95mln as of 30 June.

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