British Airways pension schemes’ triennial valuation

  International Airlines Group’s subsidiary British Airways has reached agreement in principle with the trustees of its two main pension schemes on the schemes’ regular triennial valuations. The agreement confirms that the existing contribution plans for the Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS) remain on track to repay the pension liabilities. The valuations are based on the schemes’ funding position as at March 31, 2012. The main terms of the agreement are: A combined technical deficit of £3.3 billion (compared to £3.2 billion at March 31, 2010, which was the basis for the last deficit recovery