Company can wind up the scheme if it can show that repayment of the deficit would cause sufficient pain to actually imperil the future of the Company itself
Absolutely. And lets not forget that we are talking about a company that has paid off £4bn in debt
since 9/11 and is still among the most profitable airline in europe. To pay off debt equalling 25% of that which they have already done does not imperil the company.
There is a moral obligation to do this too. They have to pay back debt to banks because they promised to when they borrowed the money. They promised me a FS pension when I joined and so have to pay that too. Be in no doubt of my response if they renege on that promise.
There are 3 reasons to work for BA 1) Bid Line 2) FS Pension 3) Choice of career. WW is after 1 and 2. If either goes I don't care if BA survives. Why should I as any new firm I work for would offer me the same as BA would be doing so post WW, and indeed would probably mean a better standard of life without working at the dump that LHR is. I will follow any BALPA industrial action lead and I will enjoy the look on the face of the Flight Ops management team when I do.