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L&G closes $5.7 billion British Airways pension deal
Posted on Thursday September 13, 2018
Britain's Legal & General (L&G) has closed a deal to insure 4.4 billion pounds ($5.73 billion) of British Airways' historic pensions liabilities, the insurer said on Thursday. The transaction will cover about 22,000 pensioners and is the largest ever bulk annuity policy arranged with a UK pension scheme, the insurer said, with L&G Chief Executive Nigel Wilson adding that further transactions are planned in the next few months to remove legacy liabilities. "The second half of 2018 is likely to be a record six months for our PRT [pensions risk transfer] business," he said in a statement.
Airlines lag climate goals despite fuel efficiency improvement: study
Posted on Wednesday September 12, 2018
Airline fuel efficiency on transatlantic flights has improved by one percent a year since 2014 as carriers modernized their fleets, but the industry still lags its own climate goals, according to a study released on Wednesday by the International Council on Clean Transportation. According to the ICCT study, the industry's average fuel efficiency, as measured by how much fuel is used to transport passengers, improved to 34 passenger kilometers per liter of fuel from 33 between 2014 and 2017 as carriers opted for modern aircraft with lower fuel burn and operated fuller planes. Airlines have been switching to more fuel-efficient planes to mitigate the impact of high oil prices on their margins.
[$$] Cyber Daily: British Airways Hackers Stole Data as People Booked Flights
Posted on Wednesday September 12, 2018
British Airways announced last week that hackers had stolen data from about 380,000 customers. Personal and credit card information that customers entered on the airline’s website and mobile app between Aug. 21 and Sept. 5 was exposed. Hackers got CVV codes, the three- or four-digit numbers on the back of credit cards.
How New Jets With Less Legroom Help Fight Climate Change
Posted on Tuesday September 11, 2018
New airplanes with spartan quarters appear to offer the greatest fuel efficiency when crossing the Atlantic. Among 20 airlines that traverse North Atlantic routes, Norwegian Air Shuttle ASA ranked as the most fuel-efficient last year, with British Airways the least, as measured by passenger-kilometers per liter of jet fuel, according to a report from the International Council on Clean Transportation (ICCT).