27 January 2010
Keith Williams, Chief Financial Officer of British Airways (BA),
has written to members of BA's pension schemes warning that a
"series of tough decisions" need to be made about how to counter
the mounting deficits of its pension schemes if they are to be
saved.
In the letter, Mr Williams said: "If we all work together, we
believe that it may be possible to save our final salary schemes.
One possible approach to making the necessary changes would be a
choice of either a reduced accrual rate or increased member
contributions."
