British Airways pilots have ratified a union proposal that could eventually result in annual savings of £26 million ($42.1 million) for the airline. It would also convert pilots into shareholders.
The British Airline Pilots Assn. said that of the 94.5% of the pilots who voted on the proposal, 83% were in favour.
"This is an unaccustomed position for a union to be in but we have pressure-tested the company's trading position and cost base and are satisfied that this step is necessary to help BA recover its position as one of the world's most successful airlines," general secretary Jim McAuslan said. "The package of measures will be implemented as soon as BA demonstrates delivery of the cost saving targets across the whole company."