Originally Posted by
wiggy
.... But M, all in the same Group, and with a CEO who has stated he is against intervention for one of the OpCos in the Group but appears to be happy to take it for another..
It's appalling optics and that's why feeling is running high....
To summarise the offers on the table for the companies within IAG:
*Iberia - €497 million profit in 2019* €1 billion in state loans with Vueling - NO REDUNDANCIES
*Vueling - €240 million profit in 2019* - €1 billion in state loans with IBERIA - NO REDUNDANCIES
*Aer Lingus - €276 million profit in 2019* pilots to work 5 days on, 11 days off for the forseeable - NO REDUNDANCIES
*British Airways - €1.921 BILLION profit in 2019* - up to 12,000 staff made redundant and currently all 42000 staff told to take a zero hours contract with ALL previous T&Cs ripped up.
This is a business that has £19bln in liquidity (which it announced to the stock markets just 5 weeks ago)
AND
says that it is in a fight for survival however is still managing to find €1bln in an all cash offer to buy Air Europa.