Pension consultations with tr

RNS Number : 7121I

British Airways PLC

17 March 2010

 



British Airways has concluded consultations with its joint trade unions (BALPA,GMB and Unite) on the future benefits of its defined benefit pension schemes.

This is an important step forward in the process of addressing the pension deficits which the trade unions will be recommending to their members. The new benefit structure will be proposed to the trustees and form part of the negotiations towards a recovery plan that is expected to be presented to the Pensions Regulator by June 30, 2010.

The proposals are intended to avoid the closure of the pension schemes and maintain British Airways' contributions at the current level of £330m per annum. 

Certain information included in these statements is forward-looking and involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward looking statements.

Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions and the Company's plans and objectives for future operations, including, without limitation, discussions of the Company's Business Plan programs, expected future revenues, financing plans and expected expenditures and divestments. All forward-looking statements in this report are based upon information known to the Company on the date of this report. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

It is not reasonably possible to itemize all of the many factors and specific events that could cause the Company's forward looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy.  Fuller information on some factors which could result in material difference to the results is available in the Company's Annual Report for the year ended March 31, 2009, which is available on www.bashareholders.com.

Investor Relations,  Waterside (HAA3), PO Box 365, Harmondsworth, UB7 OGB:  Tel: [phone]

 

END

 

 

MSCGGUAAWUPUUMM