London — British Airways (BA) parent IAG tapped UK government-backed loans to boost liquidity, in a sign of the damage being wrought by the Covid-19 pandemic on even the industry’s strongest players.

IAG accessed £300m from the coronavirus corporate finance facility in the second week of April, it said on Thursday, taking state-supported borrowing to $1.45bn including Spanish funds. The group, which initially signaled it wasn’t seeking aid, said it’s essentially grounded until July...

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