TUI Travel To Save GBP38 Million A Year With New Pension Pact
18 Maggio 2011 - 12:43PM
Dow Jones News
TUI Travel PLC (TT.LN), the travel company, Wednesday announced
that measures to address the ongoing funding and management of its
pension schemes have now been finalized, adding that the agreement
will bring total cash savings to the company of GBP38 million per
annum.
MAIN FACTS:
-TUI also announced Wednesday that it has refinanced its banking
facilities with the signing of new facilities totalling GBP1.16
billion.
-The new facilities have a four-year term and substantially
extend TUI Travel's debt maturity profile.
-Shares at 1012 GMT down 1 pence, or 0.3%, at 243 pence valuing
the company at GBP2.72 billion.
-By Peter Evans, Dow Jones Newswires; 44-20-7842-9308;
peter.evans@dowjones.com
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