British Airways pensions deficit grows
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British Airways PLC said Friday its pensions fund deficit more than doubled and angered unions by proposing an increase in the retirement age and limiting pay raises as a way to reduce it.
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British Airways passengers face further misery as the airline cancels 30 flights on Tuesday because of staff shortages.
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S Airways, facing a cash shortage as it tries to avoid another bankruptcy filing, said yesterday that it would seek government permission to stretch out $67.5 million in contributions it owes to the pensions of its mechanics and ...
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WASHINGTON: The deficit at the federal agency that rescues failed US corporate pensions more than doubled to $23.3 billion in fiscal year 2004, officials said on Monday, with analysts largely blaming bankrupt airlines.
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Aug. 17 (Bloomberg) -- British Airways Plc&#39;s unions are studying a new pay offer from Europe&#39;s second-largest airline that includes bonuses worth as much as 1,000 pounds ($1,840) amid the threat of strikes over the August bank holiday weekend.
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The federal agency that insures pension plans said yesterday that its deficit, already at the highest in its history, had doubled in its last fiscal year, to $23.
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BT sees its pension fund deficit hit Â£3.4bn, and will raise its contributions from next year.
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Britain announced a &quot;significant&quot; increase in pensions for Gurkha veterans following prolonged protests from the Nepalese veterans who fought alongside British troops in two world wars.
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Despite reaching a pay deal with cabin crew staff, BA still faces the threat of strike action over pensions reform.
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British workers will have to save more and retire later to make up for a looming gap in pension savings, said the author of an official report being released Tuesday.
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LONDON British Airways announced Friday that it was increasing its fuel surcharge on both short-haul and long-haul tickets because of rising oil prices.
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British Airways is adding up to Â£240 to the cost of a return long-haul flight if passengers want to check in an extra bag.
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LONDON : Britain faces a huge pensions crisis which must be tackled immediately to avoid future generations of the elderly seeing their incomes slashed by around 30 percent compared with those nowadays, an official report warned.
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The US agency that insures the pensions of 44 million workers said its deficit more than doubled to $23.3 billion this year on the expectation additional company retirement plans will fail.
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SURGING oil prices are continuing to drive up British Airwaysâ fuel costs and persuaded it to continue its three-year freeze on the dividend yesterday despite rising profits.
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British Airways Plc, Europe's  second-biggest airline, reported a decline in lucrative first  and business class travel in September, alarming investors  despite a continued rise in economy class traffic.
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British Airways said Friday that third-quarter profit fell 14 percent as fuel costs rose and new security requirements cut into revenue.