It shows the City do not like prolonged uncertainty by looking at what the share price is doing.I expect shares to be below the £ 1.00 level when the airline comes to a standstill (hostile takeover maybe).The only problem the pilots have is if the airline is declared bankrupt.This will reduce somewhat their projected pensions and 50,000 other members of staff.
I think the city will intervene before the collapse and there will be a new LT in place.The pilots are sitting pretty in the knowledge that should they be sacked and not re instated under the same terms they can sue for damages (in addition to statuary damages) Plus with arguably the best CV in the world another job in the not too far distant.Who is going to blink first? I know where my money is on.