There are lots of comments regarding general business here which amazes me how naive some of the comments are.
For example:
10% margins in business is tiny at an operating level compared to companies the size of BA, including many airlines and travel companies.
Management bonus in most airlines are based on improving margins. Revenue and therefore profit sits in the hands of very few managers.
No airline management team I have known (and that is several across different countries and cultures) sees any company benefits in seniority. Companies want to pay a market rate (high or low) and promote the best irrespective of time with the company. Seniority means the new guys are low experience and therefore make this impossible.
Most people have seen there pension go down the hole, including final pension schemes - whats so special about BA pilots.
99% of occupations get promotions and pay rises on merit. Pilots get them on making the grade.
By the way I have an ATPL,before you ask but also have a large amount of business experience.