Thanks Matz, a useful summary. Leaving aside the table thumpers on this forum, I doubt that the people who are offically thumping the table on our behalf are daft enough to not seek sensible compromises.
Talking of bonds Sidings. Now who was it who managed to clock up three type ratings and award themselves just about every training qualification under the sun in BACX/Con over just four years before jumping ship to a major competitor in Exeter without paying back a penny?
I’ll sign a bond but only if I see clear evidence that all pilots including managers and trainers are bonded too. Also, only if there is an independent system for verifying that they are being upheld fairly and the boys with the right sort of handshake aren’t being allowed to slip out quietly wallet intact.
Same goes for directors too, if Flybe does float then no cashing in of shares for at least five years without significant financial penalties. After all, bonds are about enforcing loyalty. Just as is always said to pilots - if you don’t leave, it will not cost you anything so what’s the problem? Same principle should apply to directors too. Might make them focus a little more on the long term.
Many of us have gone through several of these mergers / takeovers and despite being told each time by the buyer that we were previously a loss-making basket case going nowhere fast, former directors always ended up walking away with hundreds of thousands or millions in share options.
Take our almost recently departed MD for instance, 224,000 BA shares at over £4 each and a golden pension.
Funny old world!