UK/US - United Airlines has assured its UK staff their pension plan is safe although four schemes in the US are likely to be closed.
The airline, which is operating under US bankruptcy protection, says that unlike its four US pension plans, which are underfunded by $8.2bn (£4.5bn), the UK final salary scheme, which covers 600 workers, is fully funded and will not be closed.
A spokesman refused to discuss the details of the scheme but said: “The UK scheme is run totally separately and will not be affected by the proceedings in the US in any way.”
The Transport & General Workers Union, which represents the company’s UK staff, said it welcomed the news but said that it would be seeking further assurances from United.
A spokeswoman said: “They have told us it will remain open and is fully funded, which is exactly what we wanted to hear, but we will be keeping a close eye on the situation and seeking further guarantees that the scheme will not be wound up.”
The union last week called off a planned strike at Heathrow after it came to an agreement with United over pay.
Hyperbolic discounting and political temptation: Why Brexit-fuelled AE reversal would be a 'monumental' mistake
The home secretary has suggested AE should be scrapped in the event of a no-deal Brexit. Darren Philp explains why this would be misguided
The trustees of the Kodak Pension Plan No.2 (KPP2) have said it will likely enter the Pension Protection Fund (PPF) in "due course" after reviewing the scheme's investment in Kodak Alaris.
A US company has completed a £285m pensioner bulk annuity for around 1,100 of UK members with Legal & General (L&G).
Former BHS chief Dominic Chappell has been accused of trying to rewrite history as he seeks to overturn a conviction for failing to hand over information to the regulator.