IAG: BA restructuring may cost 12,000 jobs

[Jet II]

Originally Posted by polax52

I don't agree with that. The UK government will likely only get involved post IAG bankruptcy. At which point it will pick up the remnants of BA at fire sale prices.

But if IAG are at risk of bankruptcy then then it is quite likely that they will have a fire sale of assets in the group to try and prevent their collapse. So BA and Iberia could be broken up and sold off long before any collapse of the parent company IAG. Of course in that scenario IAG would love to sell BA as a going concern to the Government - but will the Government want to buy?

[Bombardierguy]

I'm sorry, but bailing out Spanish and Irish jobs in IAG is no business of the U.K. tax payer. This would represent a blatant misuse of public funds.

[747-436]

I agree that S21 will be difficult. At least with the S20 season just gone people will have been booking for this right up to March and maybe beyond as initially a lot of people thought this would be over in a few months. So despite the massive amount of refunds airlines still had some money in the bank. How many people will be booking for S21? I would suggest a few are but it won't be many so airlines simply aren't getting any money coming in, as many rely on money in the bank for future travel to keep going.

If IAG falls how many airlines will go before it as they are one of the stronger ones?

[Walnut]

Does anyone know the current share register of IAG There has just been a significant rights issue with lots of shares changing hands. It is very noticeable that IAG recently has been trading on the FTSE as one of the most traded, in some cases by a significant margin. Was this because large numbers of former shareholders chose not to take up their allotment Who actually holds a controlling interest. Is it Qatar?

[Twiglet1]

The unmentionable aircraft in UAE has just had a second slashing of the workforce. Its going to be a rough ride

[Plastic787]

To put that in perspective Etihad were struggling with an over saturated market even prior to Covid. But yeah things are bad.

[Maxfli]

Bailing out Spanish & Irish jobs

Bombardierguy

I am intrigued as to how the UK Governments decision to extend IAG a guarantee for a £300m loan constitutes;
a) UK Taxpayers money
b) Bailing out Spanish & Irish jobs

The Spanish Government has committed 3 times as much.
https://www.paddleyourownkanoo.com/2...sh-government/

Staff in other airlines in the group have also suffered redundancies, accepted more onerous terms along with paycuts of 50% to 70%

More Bad News on the way......
https://uk.news.yahoo.com/ba-owner-s...?.tsrc=applewf

[PC767]

With the news that BA flight crew are now being furloughed, where does this leave pilots in the holding pool? Will the pool still be financed by furloughed pilots on 80% pay?

[ollie135]

Surely they'll be furloughed too, they are still employees of the company after all?

[wiggy]

Having tried to follow this simply for academic interest I think I need somebody to provide the "CliffsNotes" on the latest plan...it almost seems to my little mind as if pilots will brought out of "furlough" to perform a rostered duty", then drop back into it again...I must be misunderstanding it..

[bex88]

The extended furlough is different in you can be furloughed part of the time. But yes Wiggy you are correct. Days off and leave are still that. Rostered work days with no work available are furlough.

[wiggy]

Thanks bex, after posting I belatedly stumbled across some "FAQs" relevant to this and the concept of things like "flexi-furlough" are slightly clearer now.

Good Luck with all this.

[White Van Driver]

PC767

Yes. The CRS pool pilots are still paid for by all the working BA pilots, furloughed or not.

[CaptainSox]

All is quiet!

Rumour has it that a few people have left the CRS already.

I wonder how many senior Captains and FOs were put in the CRS withing a few years of retirement. This may help the junior members to jump up the ladder as it were when things improve.

All the best to everyone in this very difficult time.

[3Greens]

And gone where? Certainly no one has left the CRS and being coursed.

[Paddingtonbear]

The original plan was based on recovery starting in q1/q2 2021. That looks highly unlikely. What's in store for the CRS/pilots in general? There's been nothing reported/leaked in the Sun recently...

[Count von Altibar]

I'm pretty sure some have left the CRS and been on courses some now flying the line, not many mind you.

[wiggy]

I've lost track of the terminology and which pool is which but last time I read about this (elsewhere) whilst there have been courses (e.g.I know for certain at least one senior ex-744 guy has converted to the 777 in the last few months) nobody in the CRS pool is likely to get a course until the summer....

[3Greens]

Count von Altibar

im afraid that this is incorrect. The CRS ( the pool of pilots being funded by the line community) has not been touched yet. All courses since the CRS was populated have been for surplus ex 747 pilots to the 777,787 and some to 320. The 380 pilots have been doing short courses to the 350.
No one has left the CRS yet and is not expected to do so until Q3/4.
all pilots on courses since September were outside the CRS and deemed “operational” but without a current flying seat.

[Paddingtonbear]

So, 321 (300 HCE) CRS pilots to be placed/re-typed from q3 2021. Is it feasible that this will be achieved in 2 years (by Q3 2023)? If not, unless they extend it, I guess that'll be the end of the PRP existence?