Reports suggest that British Airways pilots have been advised by their union to borrow £25,000 each in preparation for a long strike over their pension scheme.The British Airlines Pilots Association has said it is preparing for an all out strike of its 2,822 members at BA.
The company will announce plans by the end of March to cut the cost of its main pension scheme which has a deficit of more than £900m.
“We will do whatever it takes to defend these pensions” a Balpa spokesman said to the BBC.
The union believes the company might ask staff to make higher contributions, work longer or accept lower benefits, in an attempt to bolster the scheme’s finances.
The pilots are particularly worried about the possibility of losing ther final salary scheme for one based on their average salary throughout their years of work.