British Airways Defers £450M Pension Scheme Payments

Law360, London (February 22, 2021, 2:06 PM GMT) -- British Airways has struck a deal to defer £450 million ($631 million) of pension payments to a staff retirement scheme, the company's parent group said on Monday, as it faces continued headwinds from the impact of COVID-19 on passenger numbers.

International Airlines Group, BA's parent company, said the carrier had agreed with the trustee of the New Airways Pension Scheme to defer the pension deficit contributions due between October 2020 and September 2021. Deficit contributions are additional payments that sponsoring companies are often required to make to plug shortfalls in funding of retirement plans.

The airline will resume payments after September....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!