British Airways has announced its intention to close its main defined benefit pension scheme (NAPS). The decision caused unions to react strongly.
“Unite and GMB within British Airways must express on behalf of our members and in the strongest possible terms, both our dismay and bitter disappointment at the news that British Airways has announced its intention to close its main pension scheme,” said Unite and GMB in a statement. “Our team of financial analysts has worked tirelessly with the airline over the last few months to explore ways to keep the pension scheme open and secure it for the future. This announcement sadly confirms that our advice has gone unheeded and that we have been unable to convince British Airways that keeping the scheme open is the right thing to do, for both the company and its employees.”
Both unions have demanded urgent talks take place with the airline to discuss both the impact of this announcement, if a solution can be found and, if not, the consequences the airline may face.