British Airways Boss Refuses £270K Bonus

British Airways (BA) chief executive Willie Walsh has turned down a £333,000 bonus package, as the embattled air carrier continues to face strike action from disgruntled staff and ire from investors.

It is the second year running that Walsh has given up his bonus, after turning down more than £493,000-worth of share options in 2008.

In BA's annual report, Walsh said his aim was "to secure jobs and put the business on a footing where it can achieve the growth it needs to survive long-term."

BA is facing difficult times. The flagship carrier last month reported record annual losses of £531 million, even worse than the previous year's losses. The ash cloud debacle which last month closed swathes of European airspace for six days cost it an estimated £100 million.

Strike Chaos
Furthermore, cabin crew strikes have plagued the air carrier in the last six months, costing the company millions in revenues and grounding flights for 22 days since March until June 9.

The cabin crew of British Airways, represented by the Unite union, have been involved in a long-running dispute with the airline which began over staffing levels and working conditions.

But the union says the main outstanding grievance now is the removal of travel concessions for those who went on strike.

The strike actions have taken a blow on air travel, as hundreds of staff failed to turn up to work in a series of five-day strikes since the end of last year.