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.

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.