Sir Richard Branson has rubbed salt in British Airways’ wounds by declaring BA practically worthless, and urging the government to resist any attempts to bail it out.
Branson’s comments will incense BA management, which this week will hold vital talks with cabin crew and ground staff over pay cuts, lay-offs and changes to working conditions aimed at saving £100m a year.
Made me chuckle, also makes me wonder how long it will be before Mandelson makes Sir Dickie master of the Governments spin machine!
Perhaps the bearded one should get his own house in order first? The 'creative' accounting of Virgin with its 10 month 'profit' was a classic Sir Dickie move. Oddly enough the Singapore Airlines figures didn't quite show the same profit or valuation? Wonder why? Also VA seem to be in the midst of a rather drastic flight crew and cabin crew cull themselves which, proportional to the size of the company, is somewhat more drastic even that BA's proposed cuts. All classic bearded woolly pulley wearing ones spin.
The best was the 'we were considering buying BA when the share price dropped below 100', that stands with the 'give Concorde to us, we'll fly it if BA won't!' and that was after Airbus had pulled their engineering support for it! There was no way it was ever going to fly again without an engineering sponsor and Branson knew it. Public weren't to know that though and bought it hook, line and sinker. Branson is deeply in the poo and his creditors have recently given him a stay of execution. He needs to pull a rabbit out of a hat and it seems he is trying his best here.
Interesting few months ahead I feel.