British Airways’ prices new $1bn EETC transaction

British Airways (BA) has priced two tranches of enhanced equipment trust certificates (EETCs): $764 million class A notes, rated A by S&P and A- by Fitch, via British Airways Pass Through Trust 2020-1A and $241 million of Class B, rated BBB by S&P and by Fitch, notes via British Airways Pass Through Trust 2020-1B. Both tranches involve special-purpose vehicle Goliath acquiring new aircraft and leasing them to BA. The notes on secured on four existing Airbus A320-200 aircraft (delivered between June 2009 and June 2010) and 10 new order aircraft: three new Airbus A320neo models, two new Airbus A350-1000, and