LONDON (ShareCast) - Nearly 7,000 staff at British Airways (LSE: BAY.L - news) have offered to take a pay cut to help the struggling
airline through its current financial crisis.
Of those, 800 offered to work for nothing for up to a month, following a request by chief executive Willie Walsh. Another 4,000 workers will take unpaid leave, while 1,400 people have volunteered to work part-time.
BA's chief executive Willie Walsh and finance director Keith Williams have both already agreed to work unpaid in July. The airline said the actions by its staff will save it £10m.
"This is a fantastic first response. I want to thank everyone who has volunteered to help us pull through this difficult period," Walsh said. "This response clearly shows the significant difference individuals can make." Walsh added that staff also could volunteer for the unpaid work programme later in the year.
BA, which lost £401m last year, asked staff to take between one and four weeks unpaid leave or unpaid work, with the pay deduction spread over three or six months.
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