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Vacation loan? Call BA
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April 6, 1999: 1:05 p.m. ET
British Air will lend you $24,000 for your vacation, at 15.9 percent
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NEW YORK (CNNfn) - Need some cash for vacation? You might want to call British Airways.
In a bid to boost business, the airline Tuesday began offering loans of $800 to about $24,000 to help customers pay for their flights. London-based BA, one of the world's largest airlines, said it is the first carrier to offer the service.
The loans, for up to two years, carry a 15.9 percent interest rate but there are no interest charges if you repay within three months, the carrier said.
The loans are only available at six of the airline's offices in Britain but may be expanded to other locations if they prove popular.
"Obviously we'll be looking at it and will see how it goes," a BA spokeswoman said.
The airline is working with Abbey National Group, a financial-services company, to provide the loans.
British Airways U.S. shares rose 1-13/16 to 70-1/4 in afternoon composite trading on the New York Stock Exchange.
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British Airways
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