No Abstensions Allowed.
 

As a very very micro BA shareholder, I was recently invited to vote on a number of issues.

The one which caught my eye was the proposal to acquire a number of Boeing 787s.

Anyone any thoughts on (a) how would YOU vote on this issue and (b) what would YOU say in your presentation to the BA Board of Directors and the shareholders (if lucky enough to be part of that august body?) to persuade them either way?

Only 2?

Damage limitation exercise looming?

Err...No, JH, the third was delivered yesterday.

with another 21 on order.

There are no such things as BA shareholders. It's all IAG. I think the approval will be for the further order of 220 A319/20's, A350s and another batch of 18 787s which were previously options. These are in addition to the 24 787s already on order. The vast majority of those short haul aircraft are destined for Vueling.

Well they certainly won't be needing them for the regions. Think of all the routes the 787 could do that the others (744 & 777) don't at present. I believe Austin has been announced for next year from LHR. If there are other long haul routes (presumably BA bought them for just that) in mind then may be with the 900 version a direct Perth would be considered? I guess the 800 version can do Jarkarta or KL in the Orient, or maybe Indianapolis or Denver in the USA.

I'd be saying "fleet decisions? that's what you get paid for, mate!"

In most companies, shareholders delegate management matters to the board, but set limitations - particularly in respect of large capital expenditures. If management just wanted to exercise a few options, shareholder approval would not be necessary, but a 200+ aircraft order obviously exceeds the Board's delegated powers.

EasyJet recently sought and received Board approval for their latest order, it's normal practice.

On the other hand, if the Board seek shareholder approval for a proposition with which they all agree, and present a coherent case, they would get my approval. However, as my BA shares are held by a nominee, I don't get a vote:uhoh:

IS THAT A "NO" THEN?
 

So far nobody has admitted which way they'd vote for the proposition nor has anyone got a reasonable submission for the Board in my hypothetical query.

Suspicious or what? :confused: