My issue is the statement that these are not in operational use.
At Q3 BA had £11.9bn of assets on the Balance sheet (Interim statement on BAshares.com)
£8.0bn consisted of Aircraft, Property and other Equipment. These are all in use.
£0.2 bn of slots There are in use
£0.4bn of other long term asset. To be honest, I'm not sure about these
£1.1bn of stock, and debtors. These are an essential part of running the operation. Maybe BA could run with lower balances, but you risk sales and operational shortages
£2.1bn of Cash & equivalent. Around a billion of this is owed back to passengers who have yet to fly, and about 0.5bn is needed to repay loans within 12 months.
Using numbers from the accounts without thinking what they really represent is going to weaken the case.
I really believe that its better to stick to the basic points of principle
The offer is not a final salary scheme
Capping the index linking to 2.5% will risk our finances