socrates,
Yeah, I did see that part of Langley's post. However, there are differing reports about what happens to the remaining 90%. The BALPA line is that the £50/block hour is reduced to around £25/block hour to repay the company.
Lets be clear, no one is suggesting it is a good deal either way. It is an appalling deal which no one should consider accepting. However, it is that much worse, and bankruptcy that much closer, if the latter is true.
At any rate I am writing a letter to AH, for what its worth, as he recently invited feedback on how to improve industrial relations with pilots (should be obvious really). Hence I want to be clear on the details.
V2