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(Adds BA comment, fresh share price)
LONDON, Sept 18 (Reuters) - British Airways pilots have
cancelled a strike set for Sept. 27 to create time for talks
after 48 hours of industrial action earlier this month grounded
1,700 flights in a dispute over pay.
The pilot walkout - the first in the airline's history - was
the latest high-profile setback for British Airways, and pilot
union BALPA said it was time for "a period of reflection before
... irreparable damage is done to the brand."
"Someone has to take the initiative to sort out this dispute
and with no sign of that from BA, the pilots have decided to
take the responsible course," BALPA General Secretary Brian
Strutton said in a statement.
"In a genuine attempt at establishing a time-out for common
sense to prevail, we have lifted the threat of the strike on the
27th September."
No further strike dates have been scheduled, but the union
said it retained the right to announce more.
BA has offered its pilots an 11.5% pay rise over three
years, which it said would take the pay of its highest earning
captains from 167,000 pounds ($208,450), plus 16,000 pounds in
allowances, to just over 200,000 pounds.
BALPA wants the pay deal to include profit-sharing for BA
pilots, who on average earn around 90,000 pounds a year.
IAG's shares rallied after BALPA cancelled the strike and
closed 1.9% higher.
"We have just received this news. We are considering the
implications and we will give updates in due course," British
Airways said in a statement.
(Reporting by Alistair Smout; editing by Stephen Addison)
