Stall Pusher.
You present an enticing argument albeit at the wrong time. Whilst Bob Ayling will always be less than fondly remembered he did not have the economic disasters that the current Government has led us into to contend with.
The soaring amount of personal debt coupled with the massive Government borrowing is going to kill off or level any hope of economic recovery for the considerable future. To put it into context the Civil service has ballooned to in excess of 6.6 million under New Labour, that puts it at over a quarter of the workforce. Given that the private pensions debate will mark the next huge hurdle in the company the civil service pension mountain will need to be service by the tax payer for ever.
Taking all of this into account the disposable income that many have been enjoying for the past decade is gone. Possibly never to return in such amounts as we have seen. Personal and private credit will be far more difficult to obtain and the luxuries of travel will diminish with them.
The company MUST re-adjust to the new order and re position itself to take advantage of whatever up turn comes. The margins involved however will be far smaller.
Whilst many people don't like Willie Walsh he does have the backing of both the City and the Board on this one under a promise to return profitability to the investors. He will force through the changes to achieve this.