Well, here we go then.
Settling the dispute for the 3 year period in question at the relatively modest levels of improvement needed to pacify a majority of crews would cost what? Another couple of million? An amount entirely within the company's control and one which can be budgeted for accordingly.
Industrial action for an unspecified period of time involving a completely unpredictable level of disruption and damage to the Flybe brand. What cost here? I would wager an amount similar to the volcanic disruption of last year and the longer it goes on, the more militant the workers become and the higher the eventual cost of settlement. Completely out of the company's control.
I used to think we had some very smart people at the top, and they were let down by the managers that run the day to day operation, but now I'm really not so sure.
Regardless what happens here, I'll be at the AGM on 8 September and I intend to see that the big institutional investors get to hear some very direct and frank feedback to the board on how this business actually runs and the risks to future expansion that the directors are taking with their tight-fisted and short-sighted approach to the current operation.
On the bright side, just think what price the shares will be when the company eventually launches our sharesave scheme. Sub £1 anyone?