BA trustees stick by boss in pension row November 19, 2009 THE trustees of British Airways’ pension scheme have stood by chairman Roger Maynard amid further calls for him to resign and be replaced by an independent figure. A spokesman said the trustees were satisfied there was no conflict of interest in Maynard’s roles as director of investments at BA, director of Spanish carrier Iberia and [...]
FIGHT FOR CITY OPENS UP WITH A GOOD CUPPA November 17, 2009 IF THERE’S one City high-flier who finds it hard to say no to a new opportunity, it must be Stuart Popham, the jovial senior partner of legal giant Clifford Chance. Popham – in addition to his role at the head of the world’s largest law firm, his chairmanship of the CBI’s London council, and his [...]
BA pension trustees meet to decide the chairman’s future November 17, 2009 BRITISH AIRWAYS’ retirement scheme trustees will meet with chairman Roger Maynard today to discuss his future at the helm of the fund. Maynard has come under fire for combining his role as chairman of both BA’s pension funds with board positions at BA and Spain’s Iberia, suggesting a conflict of interests. A spokesman for the [...]
Life in the fast lane on the Cote d’Azur November 16, 2009 ANYBODY with even a passing interest in Formula One motor racing will have seen the Fairmont Monte Carlo hotel, although they may not realise it. The hotel is perched on the edge of the harbour and forms the famous tunnel, one of the best known parts of the Monaco Grand Prix circuit. For anyone keen [...]
BA PENSIONS CHIEF IS URGED TO RESIGN November 16, 2009 THE row over British Airways’ retirement scheme intensified yesterday as an independent group of pensioners called for the urgent removal of Roger Maynard as chairman of the trustees. Anger is building over the perceived conflict of interests in Maynard’s chairmanship of both BA’s pension funds – whose huge deficits are potential stumbling blocks in its [...]
Pressure still on for BA, despite the Iberia deal November 16, 2009 BRITISH AIRWAYS’ agreement to a $7bn merger with its Spanish rival Iberia has highlighted just how much the airlines have struggled during the recession. A surging oil price ahead of the financial crisis had put pressure on costs, which saw both businesses and consumers tighten their belts, causing passenger numbers to slump. The merger, said [...]
BApensions boss faces critical week November 15, 2009 ROGER Maynard, chairman of the British Airways pension scheme and director of Spanish airline Iberia, has ducked out of key Iberia board meetings to avoid a conflict of interests. Maynard has steered clear of corporate discussions of Iberia’s planned £4.4bn merger with BA. However he is understood to have been closely involved in other aspects [...]
British Airways and Iberia merger sends FTSE soaring November 12, 2009 BRITAIN’S FTSE 100 hit its highest close in three weeks yesterday as British Airways soared with investors cheered as a merger with Iberia looked imminent, while gains were also powered by strength in banks. But the rise was limited by falls in commodity prices hitting miners and energy stocks, which together constitute a third of [...]
BA AND IBERIA SEAL MERGER November 12, 2009 BRITISH Airways last night sealed a £4bn merger deal with Spanish carrier Iberia to create an aviation giant. The two loss-making companies said they had reached a preliminary agreement for the tie-up that will see BA shareholders take 55 per cent of the combined group, with Iberia holding the remaining 45 per cent. BA chief [...]
BA merger is a wake-up call for London November 12, 2009 CONGRATULATIONS to Willie Walsh, British Airways’ chief executive, for having pulled off a better than expected deal in his merger talks with Iberia. BA shareholders will own 55 per cent of the new company, while Iberia’s will hold 45 per cent; that is better than the 53-47 per cent split many had expected. Even though [...]