IAG: BA restructuring may cost 12,000 jobs
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From IAG memo.
ReAcquistion of Air Europa.
‘Transfers IAGs Madrid hub into a true rival to Europe’s four largest hubs,Amsterdam,Frankfurt London Heathrow
and Paris Charles De Gaulle.
Reestablishes IAG as a leader in the highly attractive Europe to Latin America and Caribbean market.’
Spanish Practice erosion of British Airways
ReAcquistion of Air Europa.
‘Transfers IAGs Madrid hub into a true rival to Europe’s four largest hubs,Amsterdam,Frankfurt London Heathrow
and Paris Charles De Gaulle.
Reestablishes IAG as a leader in the highly attractive Europe to Latin America and Caribbean market.’
Spanish Practice erosion of British Airways
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From IAG memo.
ReAcquistion of Air Europa.
‘Transfers IAGs Madrid hub into a true rival to Europe’s four largest hubs,Amsterdam,Frankfurt London Heathrow
and Paris Charles De Gaulle.
Reestablishes IAG as a leader in the highly attractive Europe to Latin America and Caribbean market.’
Spanish Practice erosion of British Airways
ReAcquistion of Air Europa.
‘Transfers IAGs Madrid hub into a true rival to Europe’s four largest hubs,Amsterdam,Frankfurt London Heathrow
and Paris Charles De Gaulle.
Reestablishes IAG as a leader in the highly attractive Europe to Latin America and Caribbean market.’
Spanish Practice erosion of British Airways
Yet Spanish law offers greater protection (than UK) for employees’ rights?
where has it been announced that the plan is to pull out of Gatwick? The cost base there is already relatively low. And how would they use LHR crew on ‘miserly pay and conditions’? If they are LHR crew they will be on the LHR pay scales, and therefore more expensive than current BA LGW crew...
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From IAG memo.
ReAcquistion of Air Europa.
‘Transfers IAGs Madrid hub into a true rival to Europe’s four largest hubs,Amsterdam,Frankfurt London Heathrow
and Paris Charles De Gaulle.
Reestablishes IAG as a leader in the highly attractive Europe to Latin America and Caribbean market.’
Spanish Practice erosion of British Airways
ReAcquistion of Air Europa.
‘Transfers IAGs Madrid hub into a true rival to Europe’s four largest hubs,Amsterdam,Frankfurt London Heathrow
and Paris Charles De Gaulle.
Reestablishes IAG as a leader in the highly attractive Europe to Latin America and Caribbean market.’
Spanish Practice erosion of British Airways
Is the UK government going to allow this?
Does the UK Gov want to protect the UK economy and UK jobs?
I genuinely believe the UK Gov needs to move quickly to avoid permanent damage to the flag carrier and therefore to the UK Economy.
Yes, I know but I was just answering the previous post. The threat to permenantly close LGW was one of the opening salvos in BA's carefully orchestrated press release. Frightened the bejesus out of everyone. It's a common tactic, threaten the worst then come back with a really bad offer thats not as bad but achieves the company goal.
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Which might explain why unemployment in Spain is over 3 times worse than the UK - businesses will do everything to avoid recruiting people who they may not be able to get rid of easily in a downturn.
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WW covered this in his interview on Sky. It is not IAG who are buying Air Europa, the purchase is being funded by Iberia out of their budget who are an independent operating entity within the Group and whose Management make their own commercial decisions..
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When dividends are paid or shares are bought back, where does the money come from? How are individual OpCo cash reserves contributed? Whilst they may say an acquisition by another OpCo has no effect on the others, I do not believe it for one moment. The Spanish companies have long hated the contributions BA makes towards its NAPS pension deficit for instance, and I am sure that was a big driver behind its closure a few years back.
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So, why is WW involved? Surely this BA redundancy plan is just management making their own commercial decisions. Sorry, I don't buy it. If IAG are not involved with this Iberia purchase, a major financial transaction by any measure, then what is the point of them being there. Lets face it, WW is steering this entire process.
Well dividends are (should be ) a result of the trading period, so the next dividend is never guaranteed. On that basis, the dividend will fall out smaller unless any ( if available ) reserves are used.
A second, new S188 for BA pilots
The BA pilots company council has just informed it's members that BA issued a new S188 letter on Wednesday evening (3rd June) stating that 1080 pilot jobs are now under threat (an increase). Additionally, BA has also now included the 'fire and rehire' clause it has been throwing at other areas of BA, i.e. if agreement is not reached between BALPA and BA, then the employment of all pilots will be terminated, and new contracts, with new terms and conditions, will be offered. How generous of them. Pretty obvious what the Ts & Cs, and pay will be like.
This fire and rehire idea. Is it actually legal? It seems very extreme even for the UK as it makes the unions completely redundant. Surely there must be a way to stop something like this happening?
Best of luck to all involved.
Best of luck to all involved.
Believe me, I take no pleasure in saying this, but I told you so.
I'm utterly astonished that BA have reward BALPA by increasing the numbers and threatening compulsory redundancy.
UNITE and GMB have nothing to lose now.
I understand that BA are coming to an understanding with regard to an enhanced VR package though. At least that's something.
Good luck all.
I'm utterly astonished that BA have reward BALPA by increasing the numbers and threatening compulsory redundancy.
UNITE and GMB have nothing to lose now.
I understand that BA are coming to an understanding with regard to an enhanced VR package though. At least that's something.
Good luck all.