Originally Posted by
PDXCWL45
With regards to accountability they do make yearly report's to the Senedd and get scrutinsed by committee and had to do the same for the most recent loan.
Personally I think it says something about ethos if the management in a time of crisis is willing to pitch in at the coal face.
As for operating costs what can they cut? A lot of their costs come from regulation, the other costs is of course staff. CWL as far as I know hasn't cut any yet.
The new finance director is replacing Huw Lewis the CFO.
Airline wise it'll be interesting to see what happens over the next year with demand down, I'd have thought that they'd be trying to persuade TUI especially not to cut flights or based aircraft for 2021.
PDX - and that’s the rub of my argument - what are they doing to take cost out (yes staff including Senior Management) - someone needs to hold them and the WG to account as this is taxpayers money. In addition to the roles I mention above, last time I looked there were also non execs, Head of marketing, terminal manager and this is before we get to the front line people.
If you assume revenue is down c60% (probably more) in the current FY that means this is an £8m business with some days a single pax flight and on a good day, maybe 6. This will reduce significantly in a couple of months (as Winter scheds kick in).
How can this structure (and cost) be justified in the current business climate ?
I was being deliberately controversial about the MD serving coffee (but this is true) - the actions of this business do not appear to be one of a business in commercial distress and acting like a ‘normal’ commercial business to take immediate cost action.
Yes, some roles are regulatory but given low pax numbers (and no visibility of growth from anywhere) - the business, like any business, needs to right size. Where is the commercial oversight and scrutiny coming from ?
Aren’t the people of Wales entitled to ask these questions ? I just hope they have a plan as Furlough tapers off or I will be asking serious questions of my AM (who happens to also be FM) and opposition AMs as to accountability.