I think you need a reality check Microburst.o
Ten years without hiring a pilot in an airline like IB is not natural. They declared total war on pilots over 10 years ago. And IB pilots also had salary cuts, and the era of strikes is long gone, since the first "Laudo", about 10 years ago or more if I recall correctly.
How long ago was IAG formed? If this war on pilots is ten years old how come it's all IAG/BA's fault all of a sudden?
Come on, do you know better about IB than us, the spaniards? Come off it!
No, but nor do we have an emotional attachment which clouds our judgement. We're just looking at the numbers, and it's not a pretty sight.
WW is screwing IB and BA is benefitting from it, and probably the shareholders, too. Now, we can discuss about that. The whole operation, which can be very good for the shareholders, is emptying IB from everything valuable, and turning it into a low cost for IAG (that is, BA) by sacking everybody and hiring slaves.
So explain exactly how this is done rather than just ranting. There is no transfer of resources, capital or routes to BA. The IAG share price has tanked. IB hasn't made a profit in 5 years, is there even anything valuable in there?
PLEASE tell me when did they do that in BA, mate.
BA took it's pain over the last decade. 5 bases cut to just 2, 65000 staff cut to 45000, aircraft fleets rationalised, property sold, third party interests sold, ground handling outsourced, suppliers squeezed, productivity up, costs down. Why do you think IB can avoid this reality?
Screw the shareholders. Are you capitalists or what? I mean Do you own Capital? Otherwise defending the shareholders and their repugnant manoeuvres to scam people is quite silly.
Let me remind you, IB exists to make money for the shareholders, not to serve as a golden goose for the employees. If you don't make profit then the shareholders take their money elsewhere, you can't get cash and the company fails. That's how business works everywhere in the world.
Why? Did we establish the monetary policy? Who kept the interest rates at nearly zero for over a decade? Not the PIGS, I can tell you. French and germans. Oh, but they are so clever, they are never wrong. They fueled a monster. Bubbles are not created by the people. Bubbles are created by the asholes of the European Central Bank. Why are to be blamed those who get into mortgages because it is silly not to? with such very low interest rates, why the hell not mortgage two instead of just one house? Money being that cheap, it is silly not to buy money.
I tend to agree with you, but it's not really relevant to the debate, except as a part explanation as to why the trading climate is so bad in Spain. Unless you have a time machine and can turn back the clock you are going to have to deal with the situation as it stands now, not as you'd wish it to be.
You chose to ignore all the efforts that IB pilots have been doing in the last 7 years or so, and the drastic reduction in salaries and increases in productivityh they have been offering to the managers. THEY WERE SCAMMED AND CHEATED. They believed they were negotiating, for years, when in fact the managers never had an intention to reach an agreement. Believe me in this or research. Because it is clear that you are not experts in Spain and IB.
That may well be so. The problem remains that IB isn't making any money, and that is very much the bottom line.
Iberia has burned through €1 BILLION of it's reserves in four years. It's got just €1 billion left, and lost €262 million last year alone. How long do you think that can go on before the fuel companies start asking for cash payments each time you gas up?