Forgive me for sounding naive but isn't the UK economy still very fragile? Wouldn't it be prudent to accept a 4% increase this year and review it again in 12 months time?
Surely any large salary increases awarded in the higher echelons of the company (post agreement) would be evidence/ammunition to support improved pay offers for the masses in due course.
It may be 'bluff' on the part of management at VS but is it worth taking the gamble, and potentially damaging the reputation, and financial health of Virgin Atlantic?