WW has noted among other things the success of Ryanair's use of contractor-pilots. Rumour has it that BA are in discussion with several of the pilot crewing agencies of the type such as Parc about replacing ALL BA pilot contracts with contract pilots on relatively short term assignments that are renewed at BA's whim.
To get to this desired end state BA are looking at the meltdown option of closing "existing BA" and starting again with a clean sheet. Existing pension obligations would be met by some kind of rights issue that then morphed into shares in the "new", un-pension-encumbered BA. This route would appeal to the city as it "solves" the pension issue once and for all and "liberates the value" in BA by stealing the pilots' pension rights.
WW believes this would trigger a rise in contractor-style employment across the UK industry, to the great benefit of employers and disbenefit of pilots, long an ambition of a man who has become a turncoat to his own profession and who routinely describes professional aviation as "tedium with a view".