Following on from my recent BA case study, I see the airline is calling on shareholders and creditors to stump up a further £600 million ... I want to take a look at why they are doing this when they have £1 billion in cash on the balance sheet already and a further £2 billion available to pay for their new planes.
Of that £600 million, £300 million is to be taken in one form or another from the Pension Fund. Given that CEO Willie Walsh is talking about BA "fighting for its life" I think any tinkering with the Pension Fund is [virtually] criminal and is a sackable offence.
Duncan Williamson
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