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BA pension deal agreed

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BA pension deal agreed

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British Airways has reached a deal over its 4.4 billion euro pension plan black hole.

The agreement with the scheme’s trustees means it will not have to close and BA will maintain its annual contributions at the current level with increases for inflation.

BA’s planned merger with Spain’s Iberia could not go ahead until the issue was sorted out.

A spokesman for Iberia called the pension agreement “a positive step forward in this process.”