British Airways' hopes to resolve its pension deficit issue were dashed Friday when the GMB Union rejected its latest proposal, which included a one-time company contribution of £800 million ($1.55 billion) into its New Airways Pension Scheme and annual contributions of about £280 million for the next 10 years subject to the unions' acceptance of benefit changes. On Jan. 5, the British Airways Forum reached a deal with the airline to recommend acceptance of the proposal to the four ...

Subscribe to Access this Entire Article

"British Airways suffers pension blow as GMB rejects deficit proposal" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.