BA had cash in the bank..in Iceland?.
Pre merger IB had 2800 million € .No pensions hole.
The most important thing for Sepla is to remain honest to themselves and their members.
This - in my view - is the mistake Bassa made, and continue to make.
BA showed cash reserves of £2.1 Billion this year.
10 years ago this figure was roughly double.
The pensions issue is largely irrelevant but the spanish seem unable to understand the concept. BA does not have to underwrite or pay this figure but does have to manage its contributions over a very long term to meet the ESTIMATED cost; this cost is estimated by using a very conservative audit projection.