BA pegs USAir stake

BRITISH Airways confirmed it will not be increasing its investment in USAir, in which it already holds a 4.6 per cent stake. BA said it would not exercise rights to inject a further £300 million sterling into the American airline by subscribing for additional preference shares. A BA spokesman said the group was restricted to holding a stake of no more than 25 per cent of the ordinary shares in the US group under American legislation.