Surely investors must see that BA is in a very deep, Broughton/Walsh manufactured crisis?
Its not, its in crisis because our costs are too high for our revenue. We dont make enough in the good times to get us through the bad.
The investors believe that the future lies the Walsh/Broughton route. That is why they are there. Not 1 single investor was prepared to lend us the cash to survive the winter on the old business plan. Lenders are prepared to lend us money with the cost cuts in place. The new business plan goes through or we run out of cash and go bust.
The problem lies with the fact that even our major shareholders do not have a significant holding. Standard Life has the biggest stake, and they only account for 7% of the issue.
The 8 largest shareholder own over 53% of BA. Thats an easy majority.
Invesco own 11% alone, the other 7 are Lloyds 5.4%, Iberia 9.1%, HBOS 6%, Barclays 6.9%, AXA 4%, Standard life 7% and Legal and General 4%.