Possibly, but when the Industry is on the down, it definitely applies to employees. The employers make sure it does!
Don't get me wrong, when things are not going so well, being 'all in it together' and making sacrifices necessary to ensure the ongoing survival of a business and therefore our employment is absolutely the right thing to do.
Conversely, when things go in the other direction the sacrifices made in the tough times should be rewarded. At the moment all I see is T's and C's continuing to be erroded despite the industry doing relatively well. I'm sure I'm not the only one that feels the same.
Just my two penneth, those that have been in BA far longer than I will almost certainly have a more informed point of view.
Cheers
2W2R