London Underground is in talks with a train drivers’ union to avoid a Boxing Day walkout for the third year running.
Members of the ASLEF union staged strikes on the bank holiday in 2010 and 2011 in a row over pay.
Union leaders criticised London Underground (LU) for failing to provide additional pay to drivers on the public holiday.
The tube operator is looking to avoid disruption this year and has tabled new proposals to the union.
Drivers that volunteer to work on Boxing Day could be given a day’s wages in exchange for a day of annual leave.
Alternatively, drivers can work Boxing Day as normal and keep the day of annual leave, to be taken at another time.
If there are enough volunteers, drivers will be able to take Boxing Day as annual leave as normal.
Howard Collins, LU's chief operating officer, said: "We believe is a very fair offer. LU has a long-standing agreement with all trade unions which cover working arrangements on bank holidays, including Boxing Day.
“However, we have shown good faith and tried to find ways forward. Last year we reviewed the level of service of required for Boxing Day to closely match customer demand.
“This year we have offered to roster staff on leave and operate the service with staff who volunteer to work on Boxing Day thereby offering staff greater flexibility when it comes to their leave over the Christmas period.
“Further industrial action will not achieve anything and I would urge the ASLEF leadership to take this offer to their members and work towards resolving this dispute."