British Airways pilots have voted to accept a deal from the airline that will see 270 jobs lost and salaries reduced by 20%.

Pilots union Balpa said it had negotiated the deal so that the pay cuts are reduced to 8% over two years with a move towards existing salaries in “the longer term”.

BA had issued a ‘redundancy or pay cut’ ultimatum to staff as it looks to shed 12,000 jobs from its 42,000 workforce, which includes 4,300 pilots. Balpa said 1,255 pilot jobs were among those at risk.

The airline had threatened to fire all pilots and re-hire those who accept reduced terms, but the deal agreed today means that situation will not happen.

Balpa said 85% of its members accepted the deal it had negotiated with the airline, on an 87% turnout.

General Secretary Brian Strutton said “Our members have made a pragmatic decision in the circumstances but the fact that we were unable to persuade BA to avoid all compulsory redundancies is bitterly disappointing.”

On Thursday, British Airways parent company IAG reported a half year after tax loss of €3.8 billion against a profit of €806 million in the same period a year earlier.