JayPee:
This comment is excellent:
I really think you need to widen your horizon a bit, and take a look at some of BA's other stakeholders, not just its various employee groups. When you consider the T&C changes being discussed here in the context of a 50% drop in shareholders' funds, and a decline in share price from the peak in early-2007 of 578p to 210p as of yesterday...
A reality that many seem to have forgotten. BA's mission is to be a profitable enterprise for its shareholders while providing reasonable compensation for its employees and it needs to provide assurance to its shareholders and potential shareholders that it will take all reasonable steps to minimize losses and maximize profit.
Its mission is NOT to just barely get by. Unfortunately I believe many BASSA employees view BA as still run by the government when in fact they have a new employer.