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[loganair] 29/4/2020 15:56

1. Short haul crews often flying less sectors and hours then the non- privatised national airlines.

2. Long haul crews having longer lay overs.

3. Night stop allowance much higher.

4. Bidding for flights.

The airline I was flying for often leased their aircraft with pilots and 1 or two cabin crew to other airlines while they these airlines used 3 or 4 of their own cabin crew on these flights.

British Airways normal rotation we flew.

Day 1. LHR-CDG-LHR
Day 2. LHR-IST overnight even though we landed at IST 09.30 in the morning.
Day 3. IST-LHR

BA insisted that our two cabin crew got the same night stop allowance as the 3 BA cabin crew on our over night in IST. I chatted with the BA cabin crew and was shocked that what they earned for just their over night allowances was as much as our cabin crew were paid for a full years salary while doing half the work.

Day 1. MAN-GLA-MAN
Day 2. MAN-EDI-MAN
Day 3. MAN-LHR-MAN

Air France

Day 1. SXB-DNR-CDG
Day 2. CDG-LYS-CDG


Ryanair

Day 1. LTN-DUB-LTN-DUB-LTN
Day 2. LTN-MXP-LTN-AGP-LTN


Easyjet

Day 1. MAN-AGP-LGW-AGP-MAN Pos aircraft to LGW
Day 2. LGW-AGP-FAO-LGW
Day 3. LGW-ACE-SPC-LGW

[arai] 29/4/2020 15:51

Just shows you how much doom was priced in here, one sniff of a possible solution and whooosh, V1 Rotate .......

[m1k3y1] 29/4/2020 14:52

Logan.......you clearly don't know what you are talking about as far as BA cabin crew are concerned.....what exactly are they supposed to be 'getting away with' .

[loganair] 29/4/2020 14:37

This is a problem most if not all the ex-national state airlines have, far to ridged a work force.

Years ago when Iberia brought in the A321, their A320 cabin crew said they wanted a separated extra allowance for flying on the A321 as they said the A321 was a different aircraft type to the A320. And the unions got Iberia cabin crew this extra allowance. This sort of thing only happens with the privatised ex-national airlines.

The sorts of things the BA cabin crew get away with can never happen with the non-privatised airlines.

[applepieinthesky] 29/4/2020 14:02

Opportunistic measures by such a greedy leadership team as many posters have said Walsh has been waiting to do this for years not exploring options such as reduction in hours to save peoples jobs .

[m1k3y1] 29/4/2020 14:01

ham.......or so much chaos been caused by the one country !

[hamhamham1] 29/4/2020 13:57

Never before in the world history has do much resource been chucked at a problem for so many countries around the world.

[hamhamham1] 29/4/2020 13:55

Good day across the board. Gilead shares suspended pending update on their advances in coronavirus drug. They hit the first bar apparently.

[demo trader] 29/4/2020 13:55

there it goes..........+ve news from Gilead on vaccine

220p

[arai] 29/4/2020 13:48

In danger of this going blue now ....

[demo trader] 29/4/2020 13:27

We know what you mean, mikeyi but they have a business too run, to compete, to survive, to grow, to become financially profitable in long run. Hence hard decisions.

As soon as they have a vaccine then normal service resumes.
Wouldn't be long :)

[m1k3y1] 29/4/2020 13:18

Watford.......The Unions have delivered Billions in cost savings to BA since 2010.
Massive restructuring of contracts and conditions, so I don't agree with your analogy about Unions making it difficult for BA.

Frankly, there are those who suggest that the unions could have done far more for their BA employees than they have done.

In any event, this situation is opportunistic exploitation by IAG, of a very bad situation for British Citizens employed by BA, who are also having to deal with the virus, lockdown , death and financial difficulty, while at the same time being asked by BA to volunteer for repatriation flights !.

[arai] 29/4/2020 13:07

I fully agree with the "quality companies in the hardest-hit sectors" hence investing here, BARC, Airbus, beer and finance. The market is a large forward thinking monster so we are saying 3 years or so, this will be back in the price withing 18 months in most if not all areas, some will not even see the blip.

[watfordhornet] 29/4/2020 13:07

M1 - to be honest the unions have made it difficult for BA for years. They may take opportunity but reality is they cannot keep people sitting around indefinitely. They have to act and the unions will find their power is not what it used to be

[m1k3y1] 29/4/2020 13:00

grabster.......I just don't see it. There is a pent up demand of people wanting to get away and lost of cheap oil, cheap aircraft etc flooding the market.

IAG are going to clean up if they get away with this restructuring farce.

I bet you won't see the BoD restructured or cut by 25%.

[grabster] 29/4/2020 12:49

"..if the air travel industry is going to be substantially smaller for a couple of years, then the industry needs to cut its cloth accordingly.."

Several air industry headlines this morning talking of 3, 4 or 5 years to recover.

[m1k3y1] 29/4/2020 12:42

Logan.....you only have to look at the number of vehicles there are back on the roads to see that people are eager to return to normalcy and this will include getting away for holidays etc.

With Oil at circa $20 a barrel, airlines will be falling over themselves to get aircraft into the skies, with people on board......anyway they can.

[loganair] 29/4/2020 12:30

The question now is the solvency issue. Overall consumption will be lower for some time – not because we all became monks during lockdown, but because some people just won’t have as much disposable income anymore. We already had overcapacity in a lot of the retail and leisure markets – that’s going to unwind harder now.

Which industries and individual stocks are most vulnerable to that, and which will be the survivors? That’s probably the main question any stock picker needs to ask themselves now. In this sort of environment, you probably want to stick with the quality companies in the hardest-hit sectors. When overcapacity is being swept out, the companies that benefit are the best-run ones, because in the long run, they have less competition.

[jailbird] 29/4/2020 12:30

M1Maybe that option may be available to existing staff left after redundancies have been made It will be less than 12k .. as you said opportunism by WW

[m1k3y1] 29/4/2020 12:24

Oh Monty....give it a rest........people are losing their jobs !

[m1k3y1] 29/4/2020 12:23

Unpaid leave would be an easy cost saving option for BA and as the operation increased, employees would be available to go back to work.

The fact that BA is using this to totally restructure their operation, as they wanted to do in 2010 is shameful and needs to be called out for what it is ........blatant opportunism .

[montyhedge] 29/4/2020 12:21

4 years for airlines to get back to normal. IAG just can't see how this is valued at 4 billion pounds.

[loganair] 29/4/2020 12:14

Germany - The government aiming to extend a worldwide travel ban for tourists up to 14 June and leaving a decision on the rest of the summer until later.

"A normal holiday that we've grown used to with full beaches won't happen this year anywhere, whether in Europe or anywhere else in the world," Foreign Minister Heiko Maas has said.

[loganair] 29/4/2020 12:08

The numbers in the first-quarter trading update, issued after-hours on Tuesday evening, laid bare the scale of the financial hurricane in which BA and its competitors find themselves.

IAG made an operating loss of €535m (£467m) during the first three months of the year, compared with a profit of €135m (£117m) in the same period last year - and this was in a relatively normal trading period, with the business only really experiencing the impact of the COVID-19 lockdown in March. It is likely that losses will be greater in coming quarters.

So it is very clear that IAG's financial situation has deteriorated significantly since it last updated the market.

"Any money we borrow now will only be short-term and will not address the longer-term challenges we face."

That was spelled out in the stark last line of IAG's trading update in which it warned that "recovery to the level of passenger demand in 2019 is expected to take several years".

And it makes this trading statement from IAG arguably the most significant company announcement that has been heard from a UK-based company so far in this crisis.

The problems engulfing IAG are also hurting every other airline in Europe.

Norwegian Air Shuttle, a competitor to BA on the transatlantic routes, has indicated that the majority of its fleet is likely to be grounded for a year and is engaged in a refinancing that is likely to see its existing shareholders all but wiped out.

Lufthansa, the German national carrier, is in talks to lay off 10,000 employees.

SAS, the Scandinavian carrier, is preparing to make half of its workforce redundant.

The unions will reasonably ask why BA is bearing the brunt of these job cuts, rather than Aer Lingus or Iberia.

The answer to that is straightforward.

BA is the locomotive in IAG while its other carriers, such as Aer Lingus and Iberia, are the carriages.

As the largest airline at Heathrow, one of the world's busiest airports, it is the key profit driver in IAG - but also the biggest contributor of fixed costs.

Cost cuts at Aer Lingus and Iberia would simply not be meaningful enough to make a difference to securing IAG's long-term financial health.

[m1k3y1] 29/4/2020 12:07

You're welcome jailbird......awful times for BA employees both for their jobs and trying to survive at home during this crisis.

For BA to use this as an opportunity is frankly appalling.