British Airways pilots' walkout plans at Christmas is likely to be called off after its union chiefs back down.

British Airways Pilots Association (BALPA) chiefs wrote in a letter, which is leaked to Sun Online , that it is 'the time to bank the package on the table'

They also admitted that they are unlikely to get members a better pay deal.

A close source to the union said the decision is 'a massive and embarrassing climbdown'.

The two-day strike in September had upset travel plans for nearly 200,000 people and pilots had threatened a ten-day walkout over Christmas.

But four weeks later, the UK flag carrier agreed to reinstate a previous pay offer of 11.9 per cent over three years.

It comes after BA's owner IAG, announced a drop in the earnings, in particular the September strikes had led to €155m hit on operating profit, according to Bloomberg.

The union said: "More action may move BA, but we cannot say how far.

"Each stage increases pressure on the company but also for the pilot body.

"All indications are further action will not move BA's position readily."

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