The British Airlines Pilots' Association said Wednesday it is calling off its scheduled Sept. 27 strike against British Airways, saying pilots have decided to take the "responsible course." 

"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," association General Secretary Brian Sutton said. "In a genuine attempt at establishing a time out for common sense to prevail, we have lifted the threat of a strike on the 27th of September." 

British Airways has already canceled some Sept. 27 flights, taking a revenue hit. The pilots association warned of a strike in the future if the company refuses to engage in "meaningful negotiation."

Last week, a two-day strike by British Airways pilots resulted in the airline canceling nearly all of its flights. 

The pilots are seeking a pay increase of 11.5%, saying even that was not enough given BA's financial success. The airline has said it is "considering the implications and will give updates in due course."

Another major European airline that has seen strikes this year is low-cost carrier Ryanair. Ryanair pilots walked off the job Aug. 22-23, and have planned another walkout for Wednesday and Thursday.

Pilots are set to strike five more days this month, but Ryanair leadership said flights will take off as expected. 

The strikes at Ryanair are over working conditions and pay. Sutton has said Ryanair "should stop dragging its feet and get back to the negotiating table." 

According to EU regulation 261/2004, customers are entitled to compensation if their flights are cancelled without 14-days notice. The amount of compensation is based on the distance of the flight.