BA made record profits in 2008-2009 reaching the 10% profit margin
Oooh, so near, and yet, so far! The 10% margin was in the financial year April 07 -08.
hen funnily enough the 'fight for survival' took a grip, whilst the company fought the cabin crew we made record losses - we were in intensive care
What you mean after Lehmans went bust in September 2008? When the banks (amongst our very biggest and best customers) went into meltdown and the world financial system teetered on the brink of catastrophe? Did you mean then?
Then a miracle happened, as soon as ffs was over we started making profits and we all got 3 weeks pay - we're now making considerable profits.
Yeah funny that isn't it? A company embarks on a huge cost-cutting and streamlining program, squeezing its staff and suppliers until the pips squeak, then turns a profit. That's the whole point of these programs, isn't it? Or do you think the company exists to serve you, the employee?
Come on Wirby et al, the city was briefed on the plan before ffs was announced.
I'm sure they were. They often are, it's standard business practice and probably helped secure buy-in from the companys major investors. Why do you think staff should be informed of the plans before shareholders?
Have you seen a company's share price when they announce to the city a mild profit warning, never mind 'we're about to go bust'
That rather depends on whether the profit warning was already priced in. As it happened BA's share price tanked down to about 115p. I made a tidy sum buying low then selling out about 180p a couple of years later thank you very much.
Then the biggest laugh of all was in April 2010, after the first 3 days of IA in the March and the ash cloud arrived, ww appears on TV to tell the world 'we are the most financially secure airline in Europe'.
The IA was insignificant, it cost less than a typical winters snow disruption. The ash cloud cost lots of revenue, but with no fuel costs, navigation charges, landing fees etc the operating costs were slashed. With financial commitments from the major banks and shareholders and a sound business plan BA was looking a lot more secure than it was in Q4 2008, certainly secure enough to take on BASSA and their tantrums.
It's insulting to anyone with half a brain
Your Duncanomics is an insult to anyone with half a brain!