International Consolidat... Share Discussion Threads

[m1k3y1] 17/5/2020 14:20

logan.......you seem to think that IAG (who has been making billions for 9 years) is incapable of continuing to make profits unless they effectively sack everyone and decimate their terms and conditions of employment.

Strange then, that IAG are not planning the same strategy with the BoD who are not receiving the same changes to their own pay and remuneration.......guess things can't really be that bad then.

This is nothing but opportunistic exploitation of the Employees and the Covid-19 situation by Walsh.

[loganair] 17/5/2020 14:12

BA is looking forward for the next 10 years and therefore they are positioning themselves accordingly.

Most European airlines are not as over manned and crews so over paid as BA is and therefore they need to reduce the salaries of their aircrew and their number to be more commensurate to other airlines is they want to remain highly profitable.

[jailbird] 17/5/2020 13:53

https://news.sky.com/story/coronavirus-heathrow-boss-reveals-future-of-travel-could-include-immunity-passports-11989817

[962962] 17/5/2020 13:53

m1k.Are you waiting to get your start date for reception or 1st year primary school.BA are NOT forcing people to tear up old contracts.They MAY be ASKING people to voluntarily sign a new contract,but that will be their choice.Same as historically Mixed fleet crew,they applied for the job on advertised terms,If they were lucky enough to be accepted,and believe more were rejected than successfull,it was upto those individuals to accept or decline.It's a bit like last nights lottery,I didn't win,but i cant't get a refund for picking the wrong numbers.

[loganair] 17/5/2020 13:50

m1 - You're looking backwards whereas I'm trying to look forwards with a 20% plus reduction in BA's most profitable area of First and Business class travel therefore BA need to cut capacity, cut aircrew numbers and costs.

A340's are very expensive aircraft to fly as they have 4 engines to maintain while at least the B747 has far better cargo carrying capacity and therefore has a second hand market.

The new A350 is 38% per passenger per mile cheaper to fly then they B747-400 is and it has a far greater range.

[m1k3y1] 17/5/2020 13:41

British Airways And Iberia Could Accelerate 747 And A340 Retirement Due To Coronavirus

[m1k3y1] 17/5/2020 13:37

Logan.........wrong again.
I think you need to look at IAG's profits for the last 9 years.
I think they have been doing very well and I do not see anything changing.

Academics often print a lot of facts and figures that don't come to realisation.

[m1k3y1] 17/5/2020 13:35

962......I still don't understand your point.
What employees received to change pension schemes, has nothing to do with BA now making them redundant and forcing them to change contracts .

BA made a saving of 80m a year according to some articles.


So, I guess you think it is ok for BA to benefit but not for employees to be compensated.

[loganair] 17/5/2020 13:33

m1 - Several universities have done research with their results that their will be 20% less business flight travel, especially long haul business travel going forward then there would have been before covid 19 - business and first class is where BA make most of their profit from while economy class passengers just fill up the rest of the airplane. Why are so many airlines cancelling their orders for the B777, as these airlines know their are going to be far less business and first class passengers flying in the years to come.


BA is rather like Sainsbury's having to try an compete with the likes of Aldi and Lidl - they are finding it harder and harder to do so as Aldi and Lidl grow taking more and more market share just as the likes of Easyjet, Ryanair and Wizz air are continually taking market share from BA.

[962962] 17/5/2020 13:22

m1k.Ba have been making billions year after year,but other than this year where it was cancelled,(along with my share dividend),staff have also had a share of those profits in profit share bonuses.Now before you come back and say I speak with forked tongue,I have admitted to you previously that I am ex Staff,a fact that you have vigourously denied,So believe me,I know more about what's going on than you.PS,as I know whats going on,and what did go on,you havn't replied to the question re sweetner/backhander on the pension transfer.

[m1k3y1] 17/5/2020 13:03

Logan...it is obvious from your posts that you do not like any BA crew.

BA has been making billions for years, so doing very well with the salaries they are paying their employees.

So no need to reduce anyone's pay, terms and conditions, let alone make them redundant.

Maybe you think all employees should have a 20% pay cut , which I think you will find most BA employees would accept to help.

[loganair] 17/5/2020 12:53

I do not feel much sorrow for some of the BA cabin crew having their salary cut by 50% as on the whole senior BA cabin crew are way over paid, often higher pay then many pilots of other airlines while flying less hours with some of the best flight allowances and lay over pay in the airline industry - while BA is having to compete with much leaning and fitter airlines.

Several universities have done research with their results that their will be 20% less business flight travel, especially long haul business travel going forward then there would have been before covid 19.

[m1k3y1] 17/5/2020 12:52

962.......BA made a massive saving by employees transferring to the new Aviva scheme in 2018.

Champagne was flowing at Aviva according to the papers and let's not forget, Keith Williams was part of Aviva.


For BA to now further reduce the pension benefits from the new scheme is shameful and may well produce legal claims as a result.

A previous decision by BA to Opt Out of the SERPS, means that large numbers of BA Employees will not benefit from the full state pension in any event.

I am not sure what point you are trying to make, when thousands of people are going to lose their jobs and have their pensions impacted, just to inflate Walsh's remuneration package.

It is shameful and UK GOV should be resisting it .

[962962] 17/5/2020 12:35

m1k.Please enlighten me what these changes will be,and not being sarcastic,but the staff with most to loose on the transfer to the Aviva scheme,were also the biggest beneficiaries of the back hander/sweetner cash payout for transfering.

[loganair] 17/5/2020 12:13

The best pension system I've ever come across was in one country where a persons state pension is calculated and paid on 60% of the persons average salary over the last 10 years of their working life.

In this country very, very few people, less than 2% decide to take out a private pension.

May I say when it comes to the private pension industry in any country, especially people who are council or US state employees or in company pensions schemes etc, the average person who runs these pension schemes has very little to no real understanding of what they're doing and are therefore so easily dumped by the likes of JP Morgan, Goldman Sachs etc into buying what is really high risk rubbish for the pension schemes they're running.

[m1k3y1] 17/5/2020 12:12

962......it will affect them in a greater way because there are conditions in the new AVIVA pension scheme that BA introduced in 2018, that will no longer apply and provide further savings to BA.

Shameful to be honest.

[962962] 17/5/2020 10:45

m1k.Of course it will affect pensions.Pension contributions are calculated as a percentage of earnings.The more/less you earn,the more/less you contribute.so your final pension is more or less.Unfortunately the state pension doesn't work the same,no matter how much/less you put in,everybody gets the same set figure.

[m1k3y1] 17/5/2020 10:15

I agree Monty.......Walsh has gone too far this time.
I am hearing that it is going to impact employees pensions as well.

[m1k3y1] 17/5/2020 10:14

BA and Qatar Airways secure approval for UK-Australia JV

[montyhedge] 16/5/2020 15:34

IAG going to have trouble with unions, I don't like unions, even to me this seems very tough from IAG.https://www.mirror.co.uk/news/uk-news/british-airways-cabin-crew-face-22036670

[qantas] 16/5/2020 11:40

Please do your own research as always.

[taurusthebear] 16/5/2020 11:28

Regardless of their scandalous and illegal action over refunds (re passengers), why would potential investors be interested in IAG or any other airline when it seems just a matter of time before a second wave hits?

If you want risk/reward, the price needs to be lower.

[arai] 16/5/2020 10:42

Bloomberg are cheery this morning "Flying to be more tedious than ever"

hxxps://t.co/xv7sPWWej3?amp=1

[hamhamham1] 16/5/2020 10:24

And surely if you have incurred e.g. £2bn of extra debt in a few months, and then issue a extra £2bn of shares, this the extra share capital is cancelled out by using it to pay the new debts. So on effect diluting the share value?
Eg I don't think sorting the debt out with share issue will send the shares back up to 6 quid, but it may send it back to 3 quid?