BA Pensions names Vinny Ehzuvan as CEO professionalpensions.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from professionalpensions.com Daily Mail and Mail on Sunday newspapers.
The BA corporate pension scheme has assets worth over £21billion, meaning the transfer is one of the biggest of its kind to an external investment manager.
British Airways verschiebt Sanierung des Defined-Benefit-Plans dpn-online.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dpn-online.com Daily Mail and Mail on Sunday newspapers.
The steepest decline came in April, while a slight recovery during the summer stalled in the autumn and winter when new lockdown measures were put in place across the globe due to new virus variants.
With Covid lockdowns persisting across the globe, carriers are looking for ways to preserve cash and bolster liquidity while flights remain impractical.
BA has raised total liquidity by £2.45bn through its pension deferments and final approval on its loan.
The carrier will defer £37.5m in monthly contributions due between last October and September this year after a striking a deal with the trustee of its New Airways Pension Scheme. Under the agreement, BA will also suspend dividend payments to parent IAG until the end of 2023.