Whats short sighted is the view from airlines that they can get away with penalising their employees incomes and hope for easy handouts from the public purse rather than penalising their shareholders.
If you run a company that only covers a contingency of 1 months operation , that is bad management . So who pays immediately as always , the employees.
IAG need to step up and take responsibility rather than bleating they are endangered. Raise capital , sell their stock holdings and go to the debt markets !!!
Too bad the investors get hurt , they want it all their own way and cant stomach it when they are losing. They must take a hit with diluted stock and high loan rates.
Once they show willing and then its still not enough then perhaps the Govt can furnish loan arrangements , for a tax payers share of course or the govt making money for tax payers on the loans.
Tax payers are sick of paying up for fat cat companies who cant manage their business with appropriate safety nets .
Share Buybacks
2015 500 million euro
2016 22 million shares(worth 1.08% of company worth)
2017 500million euro
2018 500 million euro
2019 700 million euro special dividend for shareholders + 500million euro buyback
While employees yet again pay for greedy management and investors ..... there should be No sympathy for these fat cat companies.
Info from IAG accounts and various share investment magazines