British Airways-2
Joined: Sep 2007
Posts: 602
Likes: 6
From: London
For the uninitiated:
IATA (International Air Transport Association) airline codes have two letters (or a number & letter) whilst ICAO (International Civil Aviation Organisation) codes have three letters. BA needed a third letter for its ICAO code so BAW made sense. (BAL was Britannia.)
With airports IATA have three letters & ICAO four. Heathrow for example is LHR & EGLL The pilots on PPrune tend to use ICAO codes & SLFs like me IATA ones but you can always check them on the web.
IATA (International Air Transport Association) airline codes have two letters (or a number & letter) whilst ICAO (International Civil Aviation Organisation) codes have three letters. BA needed a third letter for its ICAO code so BAW made sense. (BAL was Britannia.)
With airports IATA have three letters & ICAO four. Heathrow for example is LHR & EGLL The pilots on PPrune tend to use ICAO codes & SLFs like me IATA ones but you can always check them on the web.
Joined: Apr 2003
Aviation Qualifications: PPL
Posts: 10,567
Likes: 798
From: Northumberland
International Airlines Group (IAG) said a loan and deal on deferred pension contributions had boosted BA's liquidity by £2.45bn as the industry burns through cash due to COVID-19 restrictions.
Under the pension scheme agreement, worth £450m, the airline will pay no dividends to IAG before the end of 2023 in return for delaying deficit contributions due between October 2020 and September 2021.
Under the pension scheme agreement, worth £450m, the airline will pay no dividends to IAG before the end of 2023 in return for delaying deficit contributions due between October 2020 and September 2021.
Joined: Jul 2006
Posts: 368
Likes: 21
From: North of the M4
In return for the payment delay, the NAPS trustees appear to have negotiated a charge over the East and West Maintenance areas. No idea what they are worth but it seems like a reasonable thing to do in the current dire circumstances and it will have been negotiated with a lot of legal / covenant advice and possibly with oversight from the Pension Regulator. I cannot see what else they could have done without risking the company.
Joined: Mar 2008
Posts: 233
Likes: 13
From: Somewhere
DOH is a different kettle of fish. I believe this is a OneWorld thing, Qatar will be doing the LHR to DOH on behalf of the alliance and, because Qatar have dropped LGW themselves, BA will thus take up the slack. I stand to be corrected but I believe this is the rationale here.
