UK - British Airways has seen its pension liabilities increase again in current market conditions as trustees of its two defined benefit schemes have both reported fresh deficits.
The New Airways Pension Scheme (NAPS) was 83% funded at 31 March, 2008, corresponding to a £1.5bn (€1.87bn) deficit on the scheme's £8.8bn in liabilities.
The Airways Pension Scheme was 96.5% funded so had a deficit of just £240m on its £6.8bn in liabilities.
Contributions remain unchanged against the early 2007 agreement, according to BA in its annual funding statement, so will continue to be £131m a year, rising with inflation, to 2016 on NAPS.
BA signed a deal last year which saw it make top-up contributions worth £800m in 2007.
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