Originally Posted by
Woop Woop Pull Up
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.
I find it disgusting that a very big number of posters are attacking other IAG airlines in order to defend BA.
I cannot speak about AL, but I do know well the other two airlines.
Iberia underwent a deep and harmful restructuring process after the 2008 crisis, with salaries going down and down and down. A BA freshly new cadet on SH makes more than a 6 year old FO on the A330 in Iberia.
Vueling is the low cost company, with low cost salaries. It has improved a bit recently, but it has always been the low cost company.
On top of this, both companies are on ERTE, which means that most pilots are working a maximum of 5 days per month, with state aid (everyone in Spain gets it) and a small top up from the company in order to get a living salary. Spain pays a maximum of 1090 euros (before tax, and taxable) per month for each furloughed employee, very far from the 2500 pounds paid by the British Government. Thus the intervention from airlines.
Moreover, redundancies are expected in very big numbers if things do not improve.
So, to sum up. All IAG airlines are in big sh.... The only difference being that Alex Cruz is taking advantage of this situation in order to restructure BA, something that already happened in Spain 10 years ago.
Stop blaming others, stop attacking others. We are all in the same boat