Analyst Suggests BA Consider U.S.-Style Bankruptcy

Law360, New York (January 12, 2006, 12:00 AM EST) -- British Airways PLC should follow the lead of U.S. carriers and file for bankruptcy to erase the heavy pension burden its new management is battling, a top risk management and consulting firm has proposed.

The comments from a statistician at Chicago-based Aon Corp. caught the ire of BA’s Chief Executive Officer William "Willie" Walsh, whose drive to keep the airline profitable is at odds with the company’s mounting pension debt.

“We don’t share Aon’s view and are committed to tackling the pension deficit with our staff,”...
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