BA dismisses pensions' cut reports |
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Published
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Mon, 20 Feb 2006 10:50
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LONDON - British Airways PLC has labeled some media reports that said the airline was planning to cut staff pensions by about a third as "utter fiction."
“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 for BA said.
British Airways is reeling under a pension deficit of more than £1.4 billion and media reports had speculated that the carrier would resort to reducing the pensions handed out to staff in an effort to deal with the same. The Business newspaper had reported in its pages that the airline was planning to cut the pensions and this report had sparked off a reaction.
"We're looking at options at the minute. We will be speaking with our trade unions to get their views, we will be speaking with the pensions board but at this moment in time we have not actually tabled any solutions. We're still talking about what the options are," the BA spokeswoman added.
The Business had reported that BA was considering paying pensions on the average of the salary accumulated over the entire work period instead of reflection just the final salary. However, BA has denied this and said any proposal was in a planning stage and had not yet reached the table.
The Transport and General Workers Union has also said that it had not received any proposal from BA. "There are no proposals from British Airways yet," said union spokesman Andrew Dodgshon. British Airways has indicated that it would be tabling proposals to tackle its pensions deficit by the end of March.
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