The current situation is extremely difficult. There are almost no airlines across the globe making money.
Those who were expected to make a profit aren't. AF/KLM is losing $120m a quarter. JAL has received a government backed $1 billion bail out. China Eastern and Air China have been merged to offset losses, Virgins figures have been proven to be based upon currency speculation which offset the airlines loss. Ryanair has used an Air Lingus write down to hide their first ever operating loss. Alitalia is as it always has been the basket case airline of Europe and Lufthansa has announced record losses.
Add on top of all that the atrocious taxation position of the UK where we are the most expensive country in Europe to get out of with and expected increase in the passenger duty tax that most other countries have binned.
The situation is indeed dire. We get the details of the BALPA plan on Monday but I think we will see and almost across the board acceptance as I for one am willing to cut the company slack in order to keep my job.