Originally Posted by jerrystinger
Why do people fail to see that the airline world is NOT what it used to be and that it will become even more low cost - even longhaul. It doesn't take a genius to realise that cheap flights (£238 to JFk with BA) are not compatible with the current (flight and cabin) crew pay! Whether its pensions or allowances/agreements WW knows something WILL give!
The future's bright......for WW!
While on the one hand I agree that BA should pay the pension that was agreed, on the other I can see that BA simply can't afford to pay its dues.
It's often said that BA has sufficient cash reserves to cover the debt in one payment, but my understanding is that the cash reserve was not built up to pay off debt. So all that money's simply not available to use.
The other claim I hear is that managers are only thinking of their bonuses in trying to come to a negotiated settlement. But surely if there is a reduction in pension, then those same managers would be affected as well?