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Tell me how the feck Airlines are almost at their pre covid highs???? .https://www.manchestereveningnews.co.uk/news/greater-manchester-news/manchester-airport-arrivals-departures-passengers-19904015#ICID=Android_MENNewsApp_AppShare
meagre pickings
Qz.yeah just putting it out there for others to enlighten them ..iag just need to get flying again then the SP should tick up ..but the likes of jet2 and RYA have all risen to almost where they was before pandemic so wheres the upside?
British Airways to defer £450m of pension contributions
Airline will pay no dividends to parent company IAG for next three years
British Airways aircraft in Split, Croatia in August 2020
British Airways will provide property assets as security until it has repaid deferred pension contributions © Reuters
February 22, 2021 8:43 am by Sarah Provan , Josephine Cumbo and Philip Georgiadis
British Airways has agreed to defer £450m of pension deficit contributions and will pay no dividends to its parent IAG for the next three years in a recovery plan aimed at boosting its liquidity.
The company will defer monthly contributions of £37.5m from October 2020 to September this year as part of an agreement with pension trustees.
BA will provide property assets as security, which will remain in place until the airline has repaid the deferred contributions to the New Airways Pension Scheme, or Naps.
The £450m of accumulated contributions plus interest will now be repaid monthly in a revised scheme to March 2023, adding to the end of the existing recovery plan.
BA will be barred from paying dividends to IAG before the end of 2023 after it secured a government guarantee that is designed to help its recovery from the impact of coronavirus and Britain’s exit from the EU.
From 2024, any dividends paid will be matched by contributions to Naps of 50 per cent of the value of the payouts.
A £2.4bn funding shortfall was identified in the pension scheme during a 2018 valuation.
BA has paid £1.34bn in contributions to the scheme since March 2018, including £263m in 2020.
In response to the pandemic, the Pensions Regulator in April last year eased its rules to give companies hit by disruption breathing space to defer their monthly deficit pension contributions for up to three months.
In June, this relaxation was extended, but scheme trustees were instructed to take a tougher line with businesses requesting further payment holidays.
This included insisting that no dividends were paid by the business during the period of the payment holiday.
BA has also finalised the terms of a £2bn loan, which has been underwritten by a syndicate of banks and partially guaranteed by UK Export Finance. It expects to draw down the facility before the end of this month.
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Dan yes offcrio tinto
Sorry I know we bought coal mines historically. I thought we were saying we have bought some recently
Qz.yep 2019 level
Qz.yep hold on tight ftse is heading back to 7500 for sure taking glenda with it
What's going on with copper its going mental
Joker if you'd held greggs you wouldn't of had to trade as much chasing money let it come to you
Joker..it will
Joker take a look at copper
Coppers on a roll again wont be ling before it hits an all time high
Should say TURD!
Plus glencore bought this overpriced turf to add to its woes...Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. It was a major producer of coal, copper, nickel, primary vanadium and zinc and the world's largest producer of ferrochrome.
Re coalmines we bout rio tintos off casts
When did we buy some coal mines? I can’t see any press on this
The debt will fly off. Cheapest form of capital so it’s best to accrue it while it’s been so cheap. Now inflation (in real and commodities terms) means the debt will literally dissolve
The debt has been a genius move
Of course if Glen didn't have all of this debt, we would probably be looking at a £7 - £8 SP. Just when we think the debt is going to drop considerably, some idiot at Glen goes out and buys some coal mines, just when the world is trying to go green - great fegin timing ffs