UK flag carrier airline British Airways has dismissed media speculation that it is considering a major reduction in staff pension allowances, but admitted that some changes to the pension provision would be required.
Reports surfaced in the UK media recently that BA was considering slashing staff pensions by a third – something the airline has vigorously denied. Indeed, BA has been at pains to point out that no formal pension reform plans had been laid out yet, and that any changes would require extensive negotiations with staff representatives, fund trustees and unions.
We have not tabled any proposals so far and as we said at the beginning of February when we announced our quarterly results, we will be speaking with our trade unions and our staff, a spokeswoman was quoted as saying by Reuters.
There is a suggestion that the airline will announce its intended solution to its pension gap in March.