Hey Rmac
Thanks for reminding. Been a while since I posted last. Have modified my profile suitably!
How about the dedicated cabin crew, the superior food (with all the attendant wastages) ,cost of maintaining a lounge (even if shared) for one or two flights , and all those other "first" perks! Not exactly cheap aren't they? Plus the dedicated cabins which sometimes go half empty!
I guess in reality the overbooking would more or less have been twice or thrice the figure you mentioned for first (have you already gone into shock?).
May not be for all routes but certain routes certainly will qualify for the high overbooking!
Think about how many times you had to change that first class reservation 2 or 3 days before the intended travel date and then think how easy it is for the airline to fill up that high price seat you have let go at short notice? Will people travelling first class on BA take an airport chance if the flight is booked out 10 days back? No - ofcourse you will go to LX or AF or elsewhere for a "guaranteed seat.
Get real - nowadays every penny in revenue counts! Loyalty - well.. recent events have shown that that is a word which has lost its meaning !
If I were you I would still enjoy the first class when it is still available , overbooking or not! Dont expect it to last too much longer!