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Article: BA in [pounds sterling]2.1 billion pension gap deal.
- Article from:
- Daily Mail (London)
- Article date:
- January 7, 2007
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Byline: Tom McGhie
Jan. 7--British Airways is poised to give the go-ahead to a multi-billion-pound fleet renewal programme after finally reaching an agreement with unions on ways to tackle its [pounds sterling]2.1 billion pension deficit.
The airline's chief executive, Willie Walsh, had made it clear that he would not replace the ageing fleet until unions agreed to pay more for their pensions.
Months of talks were successfully concluded late on Friday night when union leaders agreed to new measures to tackle the pension hole. BA has agreed to make a one-off contribution of [pounds sterling]800 million and payments of [pounds sterling]280 ...