Profit chasing is what it comes down to.BA posted profits before the gfc.What changed? Some got richer and some got poorer nothing else.
The pension deficit was caused by? Thats right painting tails and lavish projects. investing in areas where there are no apparent returns or appreciation of assets at the cost of service. Like most things in the UK service is absent and due to what I ask you laureates?
Lower wages, lower staff morale lower profits. Its simple but since we live in an era run by neo managers, the business cycle will occur with even greater regularity.
BA will not reclaim its former glory.
When one employs people who are just passing by instead of making a career just like the strikers then the ensuing service will be similar to a Macdonalds type of service and the premium traffic will go where the premium service is offered and maintained. See what happens to brands such as LuieV, Chanel, Burbery or any other premium brand that decide to take a page out of Willie's book of tricks.
Try telling that fact to a fund manger and see the ensuing reaction........an immediate downgrade....... because one cannot quantify morale on a balance sheet........and thats how most of today's companies are run. Where people go to work because they have to not because they want to and hence the crappy service that we have. But you go Willie go and show us how its done!
Service what service, who wants a cuppa tea instead?
spelling of brands intentional to adhere to forum rules