The effect of the BA job deal on the pensions of pilots who will be retiring over the next two years wont be lost on them. This is a situation that’s sadly become all too familiar to us here at Berkshire IFA in the recent few months. Therefore we are well placed to help. To find out more about these recent events read about this challenging situation below.
BALPA Press Release
Pilots in British Airways have voted to accept the deal negotiated by BALPA in response to BA’s formal notification of 1255 pilot job losses and their threat to fire and rehire the remaining pilots on worse conditions. The deal means that there will be temporary 20% pay cuts reducing to 8% over two years and towards zero over the longer term. Regrettably, there will still be some compulsory redundancies which are currently estimated to be 270 although that number will fall as mitigations take effect. There will be no fire and rehire of pilots.
BALPA General Secretary Brian Strutton said “Our members have made a pragmatic decision in the circumstances but the fact that we were unable to persuade BA to avoid all compulsory redundancies is bitterly disappointing.”
The ballot result was 85% to accept the deal on an 87% turnout. British Airways employs 4300 pilots.
BALPA uploaded this news article top their media centre on Friday 31st July to read more about BA and about BALPA please click the link here.
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