Yeah but in a industry where your operating leverage is sky-high, this industry dynamic only makes for increased volatility of profits. You already have a cylical industry where because manufacturing lead times extend beyond the demand forecast horizon, you are almost condemned to poor performance/capacity mis-match across the cycle and then you add short term wage bargaining...

Nuts.

The blame lies firmly with our neanderthal unions and incompetent management (I feel qualified to comment being a Pilot Union Representative) and their failure to appreciate the constructive long-term relationship they need to encourage.

ESOP's/Profit share mitigates against that to some extent.

Free-market dynamics that give me £100K over three years then ask me for it back 5 years later isn't my idea of smart management.

The job has been eroded. Generally our T&C's are on the way down. The trend is irreversible in the long term and the perceived value will only temporarily increase with a supply-side reduction.

Thats why, inspite of the fact I fly 890+ hrs/year, I have another job.

Because I don't trust my management. Based on the evidence, neither should you.

:yuk: