British Airways sheds more, most European airline shares down as markets thud

British Airways' shares (-3.4%) shed another hefty amount yesterday. But as the carrier seeks sacrifices from its employees, it received some good news from the pilots' union, BALPA. The union has agreed, subject to a vote by members, to 2.6% salary reductions from October this year and longer working hours, in return for equity in the company (see below). Other unions have still to agree to pay reductions suggested on Tuesday by CEO Willie Walsh.