Skyscanner given £21m debt facility

Skyscanner, the Edinburgh-based flight comparison website, has secured a debt agreement of more than £20 million in a deal that sees it move its banking from Clydesdale to Barclays.

The new arrangement includes a £20m revolving credit facility and £1m overdraft.

Skyscanner has been expanding internationally with offices in Singapore and Beijing, and is due to open a Miami base later this year. Its website is managed in 30 languages across 40 countries and its mobile apps have been downloaded more than 20 million times.

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Chief executive Shane Corstorphine said he had built a strong relationship with managers at Barclays, and that was a crucial factor in his decision to change lender.

“As a growing internet company we value the fact that Barclays is leading with technology innovation, which will provide new opportunities for our business in the future,” he said.