UK - British Airways has agreed to increase the £500m lump sum pension payment and improve annual contributions in a bid to resolve the ongoing pensions dispute with staff.
A spokesman confirmed the airline had yesterday told unions it would increase the lump sum by an as-yet undetermined amount.
"We are also willing to increase the annual contribution levels from the current £240m, but we have yet to decide with the pension fund trustees by how much."
The airline has stressed that it was only only willing to make these concessions should its proposals for future benefits be accepted by the unions.
Those proposal included increasing retirement age from 55 to 60 for pilots and 65 for cabin crew and a slower accrual rate.
BA announced earlier that the deficit in its New Airways Pension Scheme (NAPS) was set to rise from £928m to around £2.1bn.
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