Just been talking to an old friend in bmi Mainline. The pension situation sounds shocking. It would seem that some people are likely to loose up to 40% of their pension since Lufty dumped the final salary pension in the government run emergency fund. The PPF was intended to provide some measure of protection to employees of companies that had gone bust - not the case here.
How is it that the German former parent company who are worth billions and the new owner who is also worth billions can get away with this? It is a scandalous situation and it sounds like some pilots are champing at the bit, ready to take some sort of action over it. In pension fund terms the black hole is not that big...