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[taurusthebear] 08/8/2020 08:12

Buywell - I'd say Spanish Flu was undoubtedly more underrated than this. Look at the numbers!

[hamhamham1] 08/8/2020 06:08

Travel and leisure are this recessions banks. Avoid, until the other side, then invest, seems not the other side yet...

"Almost five months after lockdown was imposed on the UK, with its accompanying travel restrictions, the airline is still flying less than 20% of its pre-virus schedule"

[buywell3] 07/8/2020 22:52

Good to see U guys keeping up with buywells' comments/posts

Here is buywells latest prediction re Covid-19 which IMO is currently the most underrated pandemic ever .

Case numbers will be 100M by Jan 1st 2021

Case numbers will be 1000M by Jan 1st 2022

The above numbers assume no long term national lockdowns AND
No vaccine being produced that gives immunity of at least 6 months or longer AND
No new cure is produced during the period.

This means since Covid-19 cases started say in Feb 2020 over the following 1yr 11 months to Jan 1st 2022

Circa 13% of the world then buywell predicts will have caught Covid-19 at least once
Some buywell is honestly very sad to say IMO will have caught Covid-19 a second time.

Bigger Institutions employ 'Risk Management' teams
IMO if they are worth their title/s and salt/s --- they will know this
A HUGE Cash pile is now sitting on the sidelines in many countries waiting for developments.

GLA

[watfordhornet] 07/8/2020 22:48

Great post I suspect many people are in similar positions. I have lost significant sums from my portfolio(stupidly too heavily in oil, airlines, miners etc)Despite losing probably 10 years income need to look on bright side - still fit, heathy, my wife is a teacher so a bit of security and I still have my job. Kids are ok. My comfort today is that we will get over this. I am still adding to my portfolio at prices I would have dreamed off a few years back.Good luck all.

[m1k3y1] 07/8/2020 22:34

Thanks fj.

[fjgooner] 07/8/2020 22:14

Yes, times are hard.

We all have to accept that our lives have been badly impacted to some degree or another during this terrible year.

And then move on and make the best of what's left for ourselves and for those around us.

I wish the best for all involved here, staff or investors.

Good luck to all.

[tornado12] 07/8/2020 20:49

I was a strong investor and weekly flyer before this Covid comet hit us all. Many businesses have suffered and suffering more every day with job losses due to world lockdown. No company was prepared and for sure hospitality and travel businesses have all been screwed. BA are not unique in laying of thousands and it’s awful news for anyone losing their job. In BA they thought it was a job for life with a strong trade union pushing up wages and perks YoY. Great while the company was flying planes and making billions. The world has changed and is now an issue of survival while defining a new business plan and maybe even new model. My company has slashed 3000 jobs and for sure those people didn’t deserve , but we all have to accept reality and do our best in a poor environment. I’ve just lost 34 % of my income. Don’t like it but it’s reality in the workplace today. The whole world is suffering and unfortunately we all have to adjust to the new reality. If the unions idea is to strike or push to cut landing slots, who’s that going to hurt the most ? It’s pathetic how childish those unions are and how both sides don’t just sit down and find a working compromise both business and employees. I suppose they are hoping the government will take it public and drown the SH. I’m out and will stay out with such management and union self indulgence !!

[m1k3y1] 07/8/2020 17:42

albert....far worse.

[albert3591] 07/8/2020 15:15

I wouldn’t care if this lot went bust now,after the way they have treated their staff.As bad as RYA.

[m1k3y1] 07/8/2020 14:46

Lufty....not quite sure what being cabin crew has to do with your point.

'Legacy' crew have moved up a band ( or lots of bands ) and do take on more responsibility when they 'move up.

I agree with your point about the BoD but I also believe that they should be given 'fire and rehire' options with statutory redundancy.

[lufty] 07/8/2020 14:28

If they were cabin crew then yes but clearly they are not. Look at Nurses who need a degree and when fully qualified start on 24k. They can only achieve a maximum of around 20% increase with 7 years experience unless they move up a band and take on more responsibility which is my point. I do however think the entire board should lead by example and take a temporary 50% cut in their salaries and no bonuses.

[m1k3y1] 07/8/2020 14:16

Lufty,,,so Walsh & Co should also be restricted to an enhancement of 20% ? including remuneration and benefits .

[lufty] 07/8/2020 13:53

Hi m1k3y1 Yes and No lol. The starting point should be the same salary however experience, seniority and commitment to the company should enhance the package but maybe only by 20% or so and not two or three times the starting salary. However in my view there needs to be more operational Flight Crew Managers, operational Flight Crew Trainers and Assessors, CSD, CSM, supervisor, and senior crew grades all with differentiated pay scales. I would have no problem paying an £80k package for the right role and person. like I say I feel so sorry for all British Airways Cabin crew regardless of whether they are staying or going. Some indeed a lot are simply outstanding

[patientcapital] 07/8/2020 13:51

Almost 80k in the case above...

[hamhamham1] 07/8/2020 13:45

If was 60k, jeez, compare that to nurse pay, the latter underpaid!

[m1k3y1] 07/8/2020 13:27

Lufty .....but as far as you are concerned, they are all overpaid and should be paid the minimum that other airlines are paying.

As I have said before, if EVERYONE had the same view , then we would all be earning the lowest salary possible with no benefits .

Difficult to see how this helps the economy or people to live a better life.

[lufty] 07/8/2020 13:20

I have flown BA quite a bit and in my personal experience I have had exceptionally good service from young mixed fleet crew as well as worldwide fleet. I have also had exceptionally poor service from worldwide fleet and mixed fleet even in First. I therefore struggle to see the service/safety arguments of paying significantly more than the current industry standard for crew. However I do see a real need for more cabin supervisors/managers who should be paid a large premium in my opinion and this to me is a failing which will cause problems in the future. I can not begin to imagine what many British Airways cabin crew are feeling at the moment and they all have my sympathy regardless of if they are staying or going as it is the crews and the route network that make British Airways such a great airline and certainly not the hard product.

[patientcapital] 07/8/2020 13:17

The report was actually a cabin crew member discussing her redundancy on R4. Three months pay amounting to £19k. No wonder some are getting pay cuts.Any company making daily losses of £20m needs to address this or face everyone out of a job.

[m1k3y1] 07/8/2020 13:03

Patient........reports are not to be believed and who are you to decide if someone is overpaid or not ?

I would suggest that Walsh is overpaid and so is Cruz, among others.

[m1k3y1] 07/8/2020 12:44

It is also being stated, to any crew who are being offered the new role, that to retain their Staff Travel entitlements, they have to sign a 'settlement Agreement'.

Yet more bullying from BA and information that was not previously disclosed to Employees.

[patientcapital] 07/8/2020 12:43

With daily losses of £20m some action clearly needed taking. Some cabin crew seem overpaid if reports are to be believed.

[m1k3y1] 07/8/2020 12:42

LUFTY ......the Phrase is 'we aim to protect' and you are ignoring the other elements of Pay that crew earn, which BA are no longer going to pay.

This means reductions in take home pay of circa 50% +

[applepieinthesky] 07/8/2020 12:34

This Vile company is cutting 20 per cent of the basic salary that makes up maybe 60 per cent of overall wage the rest are allowances which won't exist. A purser would be on 60 per cent of basic if taken on as main crew. Absolutely vile company and the way it's been handled a national disgrace all masterminded a little Irish being with bad teeth.

[lufty] 07/8/2020 12:25

Correct !!! Some do currently earn more than 60k but also many earn less. Correct !!! The salary cuts are capped at 80% of their basic salary. I have seen the offer in writing

[m1k3y1] 07/8/2020 11:03

LUFTY.......incorrect.
Some are earning less than that.
The pay cut is NOT capped at 20% reduction but then there are no pay rises . Regardless of length of service going forwards.

In addition, some are being demoted from being in charge on a 747 / 380 with associated pay, to being main crew on the new 'one fleet'.