International Consolidat... Share Discussion Threads

[sr2day] 03/5/2020 05:39

m1k,i think you would better off getting a job as a negociator for BA.instead of trying to ramp the share.the only way is down.

[m1k3y1] 02/5/2020 23:40

Jailbird....I agree GOV can't force BA to deploy alternatives BUT they can intervene and say that the course of action IAG are employing is unacceptable .

UK GOV have sufficient power to 'persuade' IAG to reconsider and offer a loan on commercial terms , which IAG would find difficult to refuse, given that they have already accepted the same from the Spanish GOV.

It would be positive to see the public get behind the BA employees who are about to lose their jobs and offer public support.

After all, these BA employees have been offering their services to the NHS and others to help combat the virus.

[jailbird] 02/5/2020 23:19

Furlough is just bought time for the Cos to get their house in order and prepare for redundancies

[jailbird] 02/5/2020 23:17

M1,

"If IAG are allowed to get away with this, it will open the floodgates for other companies to do the same and you will see hundreds of thousands of employees being given notice and fewer people being re-employed under much more inferior pay and conditions."

I am afraid this is process will happen regardless..many will do it anyway

"No one benefits except the company CEO's.
Less tax for UK GOV and more people on benefits and universal credit, more mortgage defaults, lower property prices, lower rents etc etc etc ."

The legal challenge to stop this by the union..the government must think seriously about the consequences of your point...it will be downward spiral and has a frightening chain reaction

Problem is Gov cannot force BA to do deploy alternatives like getting a Gov backed loan

[m1k3y1] 02/5/2020 22:13

buywell.......this isn't about survival.......this is about opportunistic exploitation of employees by BA.

If IAG are allowed to get away with this, it will open the floodgates for other companies to do the same and you will see hundreds of thousands of employees being given notice and fewer people being re-employed under much more inferior pay and conditions.

No one benefits except the company CEO's.
Less tax for UK GOV and more people on benefits and universal credit, more mortgage defaults, lower property prices, lower rents etc etc etc .

IAG has other options , they just don't want to explore them as far as BA is concerned.

Oh and as far as pensions go.....pensions companies will default because employees can no longer contribute. . Employees who are sacked and made redundant will be forced to pay lower contributions and / or withdraw their pensions ( if they can ) .

If all these people get sacked and only some of them re-employed on inferior pay.......you and I via our taxes will be paying for it. So far better to keep the companies going with commercial loans and keeping people employed than the alternative .

No one benefits from lower pay and conditions except the company bosses on big bonuses and share awards.

[buywell3] 02/5/2020 21:36

You still don't get it

This is a matter of survival now , talk about anything else is flapping your gums and doing the Ostrich thing.


ICAO: 1.5 billion drop in airline passengers by end of 2020
eTurboNews | Trends | Travel News-30 Apr 2020
For the aviation industry, this is a matter of survival.
The Airline Industry is set to lose 25 Million jobs


and even worse

50% of the TOTAL GLOBAL WORKFORCE are now likely to lose their also




Now start talking about union strikes and pension payments again

buywell calls IAG to 150p in the next leg down

IMO dyor

[jailbird] 02/5/2020 21:08

that is a shocking figure M1

[loganair] 02/5/2020 20:02

United Airlines has informed the airplane manufacturer that it will be taking less than half of the new Boeing 737 MAX jets it originally ordered.

[m1k3y1] 02/5/2020 19:31

I am hearing that the salary BA wants to offer to crews after redundancy is 13.5K p.a.

[m1k3y1] 02/5/2020 19:28

Smithy.... .I agree. My understanding is, that the hedging covers the whole of 2020.
So, if this is the case, Walsh is yet again playing with figures to suit his purpose.

With oil at circa $20 a barrel and not likely to increase much for some time, airlines are going to be making a lot of money, as soon as they can get aircraft back into the skies.

[hamhamham1] 02/5/2020 19:26

Travel/Leisure are this recessions Banks.

[smithys2019] 02/5/2020 18:14

Interesting comments about the Strike and vitriol. Also interesting that the waterside fuel hedging office smoked 10 times the gold than three days of strike!

Does anyone know whether the declaration of the 1.3 billion exceptional for fuel hedging would leave them in a better liquidity situation if it turns out the write down wasn’t as bad as that? I can’t see how 1.3B could have been smoked with the significant reduction in usage?

[jailbird] 02/5/2020 17:58

https://apple.news/Ads4ya0byQEqgHkt5meWpCwAir travelHeathrow Airport boss John Holland-Kaye told PA it would be "physically impossible" to maintain social distancing measures at airports and that there will need to be better health checks of passengers.He said UK airports should follow countries in Asia which have introduced screening measures, temperature checks and improved hygiene procedures.Passengers may also be required to wear masks during flights.Mr Holland Kaye added: "The constraint is not about how many people you can fit on a plane, it will be how many people you can get through an airport safely."Travellers could also be told to arrive up to four hours ahead of their departure time to allow for extra measures, such as being swabbed and tested for the virus before being able to go through security.Independent aviation analysts have said planes would have to be fully disinfected after every flight, meaning ticket prices could increase.Low-cost airline Wizz Air was to resume some flights from Luton airport on Friday, with passengers required to wear face masks.Crew will also wear masks and will keep a distance between passengers during boarding.

[loganair] 02/5/2020 16:14

Forbes - Deal For 200 Boeing 737 MAXs Impacted If British Airways Closes London Gatwick Base:

British Airways told staff it could close its London Gatwick base, raising questions about the 200 Boeing 737 MAX aircraft that the airline’s parent, IAG, signed a letter of intent to buy.

Gatwick was due to receive the first part of the MAX aircraft from IAG’s LOI placed last summer and still valid as of February, the group said.

Under the LOI for 200 MAX aircraft, the first batch were allocated to British Airways at London Gatwick. They cannot be transferred to British Airways’ larger base at Heathrow, which requires baggage be loaded via containers.

Baggage has to be loaded individually onto the 737 MAX, unlike the A320 that can accept containers. British Airways uses the A320 family at Heathrow.

IAG also provisionally allocated MAX aircraft to Vueling and said the group could deploy MAX aircraft to its other airlines. IAG did not disclose the exact number for Vueling or British Airways. But it is unclear if other IAG carriers could absorb the Gatwick-bound aircraft.

British Airways operates around 140 A320 family aircraft and 22% of its A320 pilots are based at Gatwick, according to a separate recent memo from management to pilots. That suggests around 31 A320 aircraft are based at Gatwick.

The same post-coronavirus economic outlook that impacts the Gatwick base could also affect other IAG units and see them taper new aircraft delivery plans.

After IAG’s LOI for the MAX aircraft, it announced plans to purchase Air Europa. The Spanish carrier was due to receive 25 737 MAX aircraft from 2020 to 2025.

IAG is reportedly re-negotiating the Air Europa purchase, but if it goes ahead IAG’s group fleet will have 737 MAX aircraft.

That could be an argument to proceed with the Boeing 737 MAX LOI and increase scale on the 737 MAX fleet inherited from Air Europe.

Or the LOI could lapse, but it may be too good to pass up.

Financial terms of IAG’s LOI with Boeing are not disclosed, but it is widely expected IAG received higher than normal discounts and flexibility. IAG was the first blue-chip customer to do a deal for the MAX after the type’s grounding in March 2019.

Boeing also won over IAG, which earlier replaced 737 classics with A320s and not 737 NGs. Airframers especially prize “flipping̶1; customers from a competitor supplier.

IAG also saw value in ending sole sourcing of short-haul aircraft from Airbus.

“One of the key factors for us in the 737 MAX is not only getting a good price, but it is also making sure that the supply is being competed over both Airbus and Boeing,” IAG CFO Steve Gunning said last November. “In a world where you have a duopoly and you convert it into a monopoly because you do not deal with both [Airbus and Boeing] on the short-haul aircraft, that does not seem strategically to make sense.”

IAG will eventually need new aircraft. The question is if IAG wants to spend capital in the medium-term on a good deal. Consumer advice may hold. A sale is not a sale unless you wanted the item in the first place.

[m1k3y1] 02/5/2020 16:12

962.....it's all he ever does.

[962962] 02/5/2020 15:30

Logan.The bearded denture is busy pulling money out of Virgin Atlantic before the vultures circle.

[m1k3y1] 02/5/2020 15:25

Logan.....is there any chance you can post the links to the papers you are quoting from please.

[loganair] 02/5/2020 15:15

For a man who has built a fortune out of keeping his brand front and centre, Virgin Group's Richard Branson has been remarkably low-key as prospective bidders circle Virgin Australia.

Conservative estimates suggest Branson has pulled out close to $200 million from Virgin Australia since it listed back in 2003.

[loganair] 02/5/2020 15:10

American Airlines bidding a fond farewell to five fantastic fleets - The US mega-carrier American Airlines recently announced plans to accelerate the retirement of 99 older, less fuel-efficient aircraft from its fleet a fair bit sooner than it had originally planned.

American has officially retired the Embraer E190 and Boeing 767 fleets. The airline has also accelerated the retirement of its Boeing 757s and Airbus A330-300s. Additionally, American is retiring 19 Bombardier CRJ200 aircraft operated by PSA Airlines.

[962962] 02/5/2020 14:45

Jailbird.Agree with the add-ons,but was in ref to m1k refering comments to other airlines.I have not seen any other airline and again I stand to be corrected,giving up PAY PACKAGES,salary yes packages no.Excellent point regarding divide and rule.They have done it countless times over the years.This time though there is no division,all in the same boat.

[jailbird] 02/5/2020 14:41

* final salary Pension schemes

[jailbird] 02/5/2020 14:34

He is get millions in add-ons£3.5m last year I was to told but do not quote me With regards to previous disputesWW used divide and rule It was the same when the IT was outsourced But as they say what's go around , comes around

[m1k3y1] 02/5/2020 13:59

962.....yup agreed but they were effectively locked in with the pilots and the Union was using them to try and gain public sympathy.

We now have a situation where BA are not even proposing to offer the MF contract !
They want terms even worse than that, as they are ripping up all agreements .