According to Sunday Times LEA are suing RBS to recover £4.6 million pounds of losses over what LEA alleges was a mis sold insurance that was sold to protect them against interest rate rises that never happened.... The claim is that they were effectively bullied into buying this insurance!!!!
An alleged loss on this scale could only have been against loans well in excess of £10 million and the suspicion must be that this was to do with their mis judged belief that the future was VLJ shaped as a result of which they bought a load of Mustangs.
The pay scale for LEA pilots is still the same as it was in 2009...
We have seen no benefit whatsoever from any of the Lux razzmatazz and money ( quite the opposite)..so whilst our management go off on Lux management beanfeasts to exotic venues and the Lux zillions are pumped into elaborate publicity and window dressing and partying, those of us at the coal face are just treated with contempt...
Is it any wonder that staff turnover has exceeded significantly over 75 percent over the last five years?
if this litigation is successful, then properly, the greater part of it should be distributed as a one off bonus to those of us who have effectively paid for this "mis sold" insurance...by seven years of pay cuts...
Yeah right.......Dream on...........