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British Airways PLC (BAY.LN), the flag carrier airline of the U.K., said Wednesday it has entered into a supplemental trust deed with International Consolidated Airlines Group S.A., or IAG, BA Holdco S.A., or BA Holdco, and the Trustee dated Oct. 26 amending and supplementing the trust deed dated Aug. 13, 2009, between British Airways and the Trustee.

MAIN FACTS:

-Supplemental Trust Deed will become effective on Jan. 17, 2011, subject to certain conditions.

-Under the terms of the Supplemental Trust Deed, IAG shall irrevocably and unconditionally guarantee the company's obligations under the Trust Deed, the Bonds and the Coupons, including the due and punctual payment of all amounts expressed to be payable by the Company under the Trust Deed and the Conditions.

-The Conditions will be replaced in their entirety by new terms and conditions; Amongst other things, the New Conditions provide that each Bond will be convertible at the option of the holder into ordinary shares of EUR0.50 each in the capital of IAG at an initial conversion price of GBP1.89 per IAG share.

-Shares of British Airways on Tuesday closed at 279.90 pence.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com