16 June 2009
Talks have taken place between British Airways (BA) and its
pension trustees after BA fell below the cash reserve level agreed
three years ago.
In 2006, it was agreed that a one-off contribution to tackle the
pension scheme deficit would be paid and an additional payment of
£50m a year would be paid as long as there was £1.8bn of net cash.
However, the net cash has fallen to £1.3bn and is predicted to drop
further this year.
