An excellent and informative post.
British Airways is still the best employer for pilots in the country without doubt. That said, the low cost airlines have forced them particularly in the short haul market, to re-evaluate their strategy and the consequence of that is terms and conditions have been eroded for new entrants. It is not the airline it used to be anymore for excellent conditions of employment.
The pension unquestionably is a paramount factor in deciding whether or not to apply to them. Likewise, if current BA pilots are asked to dip in to their pockets to sure up the black hole in the companys' pension pot, then if the retirement age is extended to 60, many will continue beyond 55 to make up that shortfall. That in turn will have ramifications for promotion to the LHS.
Cathay Pacific used different contracts to employ new pilots and the reason is reduce crew costs in an increasingly competitive business.
My own gut feeling is that only those who are low in seniority in their own airline and are going to have to wait a long time till command should consider it. The difference between final salary pension schemes and money purchase schemes is immense and if you are currently in a final salary scheme at present, think very carefully.
British Airways does offer a multitude of oppotunities through their route network but the friends I have there work extremely hard and fly more hours than most of the charter airlines now.
Good luck to those applying. I have a feeling BA won't be getting the deluge of applications it may have been expecting.
Regards Orion Man.