Originally Posted by
Built4Speed2
serenity,
other than all being airlines do you see much similarity between BA and Monarch, Thomas Cook and FlyBe?
BA has, since IAG was born in 2011, contributed upwards of 85% total group profit of all IAG airlines (Iberia, Vueling, Aer Lingus). BA has in that time made almost €10billion in straight profit for the “group”. BA has the most efficient pilot scheduling agreement of the two other legacy airlines in the group.
IAG has Eur9.2bn of total liquidity at its disposal, around €8billion of that is from profits made by the loyal workers at BA. Others may do it “cheaper”, on a pro rata basis, but very few if any airlines have created as much wealth for their owners as the employees for BA. Yet here is where the axe will fall, whilst other airlines in the group, who contribute a relative pittance, get state aid and remain intact, the highly profitable people at BA will have their lives permanently ruined (those that remain as well as those made redundant).
Welcome to Capitalism 2.0. Spawn from a global health pandemic, I hope the creators are remembered for all time alongside Hitler, Stalin, Mao and co.
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I suggest Walsh delayed his retirement from IAG as he saw a chance to settle some old scores - BASSA, BALPA and Branson.