Not all airlines are doing this badly are they?
Not all european full service legacy carriers are doing as well as BA in cost cutting. Why do you think investors are backing BA? What do you think the losses would have been without the cost savings in place?
It's totally pointless shouting about a headline grabbing figure without understanding the movements beneath it. A good example is BASSA constantly harping on about the money lost in fines but not considering the excess profit made during the same period. Or, indeed, the monies lost by BA through incomplete BAA systems checks during the opening of T5. Are we paying the same, initially agreed, rent for T5? Nope, BA secured a refund on the mess from the BAA which, in all likelyhood, more than covers the losses.
The pension schemes have a viable plan. It is the regulator who makes the final decision but, as pensions are based on long term future projections, the independant regualators position should be positive.
Swans may look serene on the surface but they are paddling like buggery underneath.
Don't detract focus from the mess BASSA have created. If BASSA had their way the losses would have been suicidal.