Originally Posted by
777JRM
In fact, BA was making €2bn profit with these same cost structures.
Last year was the second highest ever, I think.
That’s 2/3rds of IAG total profit, yet BA will take most of the ‘pain’.
One might also ask: Why should just the employees take the pain for poor fuel-hedging decisions that cost €1.3bn.
When will we see shareholders take some of that pain, eg, in a rights issue perhaps?
I think the Qataris can afford it.
And yes, as Mixed Fleet expands and Legacy retire off, the costs go down anyway.
Unfortunately you're looking at rescuing what you hope is a secure and prosperous future. You're hoping for union or government intervention to make that happen. In the real, pure captitalist world, the market value of our profession as a "British Passport holding" Airline pilot has collapsed. There are experienced Captains out there right now that would bite your hand off for £20,000 per year. There are no expat jobs out there, there won't be jobs for British Pilots in Europe going forward. In the British socialist world, maybe we can prop up the salaries for a little longer.
We are kind of similar to WTI crude oil on April 20th. But our supply can't be so easily turned off.