New British Airways fund chief April 11, 2010 British Airways has named Paul Spencer as the chairman of its pension trustees. Spencer, the former head of National Savings & Investments, is also a trustee of the Rolls-Royce, BT and BAT pension schemes. He is set to play a crucial role in BA’s planned merger with Spanish airline Iberia. Iberia has said it would [...]
BA and Iberia set to merge November 29, 2010 SHAREHOLDERS at British Airways (BA) and Spanish carrier Iberia rubber-stamped a £5m merger yesterday, allowing the pair to create a major player that will compete with rivals Lufthansa and Air France-KLM. More than 99 per cent of BA’s shareholders at a meeting in London yesterday backed the deal, meaning the new International Airlines Group is [...]
Huge fines for airline cartel November 9, 2010 ELEVEN airlines including British Airways have been handed massive fines for running a price-fixing cartel on cargo flights, paving the way for a flood of compensation claims against the firms. The EU competition commission said the cartel was “deplorable” and fined the companies €799m (£688.4m), following a four-year investigation. The firms illegally fixed surcharges for [...]
Pensions clarity can hit investor risk perception November 14, 2010 COMPANIES which disclose pension liabilities in their accounts are increasingly taking a hit on investor perceptions, regardless of whether or not they have a pension deficit, new research has shown. Over half of finance directors surveyed in a recent PwC study on attitudes to pensions accounting said that information disclosed in their accounts gave investors [...]
Pensions clarity can hit investor risk perception November 14, 2010 COMPANIES which disclose pension liabilities in their accounts are increasingly taking a hit on investor perceptions, regardless of whether or not they have a pension deficit, new research has shown. Over half of finance directors surveyed in a recent PwC study on attitudes to pensions accounting said that information disclosed in their accounts gave investors [...]
BA swoops on bus company’s finance chief November 22, 2010 BRITISH?Airways (BA) has poached the finance boss of train and bus operator Go-Ahead to become its new chief financial officer. BA said Nick Swift would join the flag carrier on 7 March next year, replacing Keith Williams, who becomes chief executive of the company when its merger with Spanish rival Iberia goes ahead. BA’s current [...]
BA wins appeal in cargo case November 18, 2010 BRITISH Airways (BA) yesterday won a high court battle to prevent hundreds of air cargo customers suing it in a US-style class action lawsuit. Two UK flower importers that sued BA in 2008 cannot represent all direct and indirect customers of the carrier, because there was no way to know if they had the same [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 23, 2010 FINANCIAL TIMES CAMERON WOOS NORDIC NATIONS David Cameron is to host a summit with leaders of Nordic and Baltic countries in January, an unusual move which Downing Street billed as an opportunity to exchange ideas on issues such as the green economy, social cohesion and gender equality. Cameron’s spokeswoman insisted the summit was not an [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 23, 2010 FINANCIAL TIMES CAMERON WOOS NORDIC NATIONS David Cameron is to host a summit with leaders of Nordic and Baltic countries in January, an unusual move which Downing Street billed as an opportunity to exchange ideas on issues such as the green economy, social cohesion and gender equality. Cameron’s spokeswoman insisted the summit was not an [...]
BA, AA and Iberia name tie-up routes October 6, 2010 British Airways, American Airlines, and Spain’s Iberia unveiled four new routes and promised passengers lower prices and flight flexibility as they launched an $8bn (£5bn) transatlantic joint business yesterday. The trio are strengthening their existing oneworld alliance ties — but stopping short of a full financial merger because of strict US laws that bar foreign [...]