International Consolidat... Share Discussion Threads

[m1k3y1] 28/4/2020 23:09

This also at a time when employees are unable to meet together to discuss the situation with each other, or for the Unions to hold Branch meetings with their members .

[waikenchan] 28/4/2020 23:00

hxxps://onemileatatime.com/lufthansa-state-aid/

Maybe why this is the reason WW is not keen for a bailout at all costs.

[arai] 28/4/2020 22:14

US Global Jets ETF finished up 7.61% at close of play with that basket load of companies in it. AA, Delta et al.

[m1k3y1] 28/4/2020 22:03

BA has plenty of choices but not ones they wish to accept.

This is about Virgin and BA employees are expected to accept the situation.
Appalling behaviour by Cruz and Walsh.

[jailbird] 28/4/2020 21:23

Yes BA has little choice left Furlough was too costly as BAeas supplementing it Looks decided to bite the bullet Forward outlook must be really bad But BA can always recruit again and cheaply .. no problem finding ppl to work for them

[m1k3y1] 28/4/2020 21:06

I feel very sorry for BA's employees..........awful decision by BA but entirely predictable.

[m1k3y1] 28/4/2020 21:05

Not so fantastic jailbird.......I doubt they will be giving a decent redundancy payment. It will be as cheap as possible knowing Walsh.

[jailbird] 28/4/2020 20:50

One thing my colleague said to me and is a very good point I know that isn't the whole story probably, but there's no "Aer Lingus is consulting ...", "Iberia is consulting ...", only BA, always BA and none of the other airlines in the group.

[loganair] 28/4/2020 20:41

El Pais - The Spanish Government is preparing urgent financial aid for Iberia to prevent the airline’s collapse due to the stoppage of flights.

The government is not considering taking a stake in the airline for now, the newspaper said.

[jailbird] 28/4/2020 20:34

End of day RNS .. never liked by the market . But has been offset by cost savings in redundancy Not sure of terms and conditions of redundancy packages .. historically BA used to pay 1 years wages , sometimes more , which was fantastic May just be basic statutory package this time.

[loganair] 28/4/2020 20:21

There is a major problem trying to bail out the European Airlines.

IAG - British Airways, Iberia, Vueling & Aer Lingus are the national airlines for 3 countries so which country bails out IAG and if all three governments do under the same or different conditions.

Air France / KLM - French and Dutch.

Lufthansa also includes Swissair, Austrian Airlines & Brussels Airlines - German, Swiss, Austrian and Belgium.

Virgin Atlantic - 49% owned by Delta Airlines, why are the US government not providing Virgin with 49% of the aid Virgin needs.

[thecroots] 28/4/2020 20:12

hamhamham,

You really think this is going to be 10% up tomorrow?

[toon1966] 28/4/2020 20:09

m1k3y1 - Lufthansa rejects German government’s conditions on rescue deal

Air France/KLM -

Suspect there is a long way to go in Europe and that includes BA...

[sponges] 28/4/2020 20:05

As bad as it will be for the poor people being made redundant, which is tragic of course - you have to look at the facts that redundancy payments are "one-offs" and then there would also be no further pensions contributions made for those people - so costs go down in respect of these.

[loganair] 28/4/2020 19:57

m1k3y1 - The German government has agreed to help Lufthansa with a rescue program worth around €9 billion in exchange for a blocking minority and one or two Board of Directors mandates. But the German airline rejects the federal government’s conditions.

According to information from the Frankfurter Allgemeine Zeitung, Lufthansa rejects the federal government’s conditions for a rescue package and instead examines an insolvency-like protective shield procedure (Schutzschirmverfahren). In such a procedure, the company would be placed under the supervision of an administrator and could undertake the reorganization under the previous management.

Lufthansa is said to be in the market for a loan of €290 million from the Belgian government for Brussels Airlines. According to the Belgian news channel VRT, Lufthansa has no plans to sell its Belgian subsidiary. CEO Carsten Spohr would prefer the airline group stays together.

[m1k3y1] 28/4/2020 19:48

I think this could create a backlash against both UK GOV and IAG / BA.

UK GOV have created the criteria that appears to have forced BA into the situation where it's preferred option is to make 12,000 employees redundant.
Walsh was never going to agree to giving up shares in IAG for loans.

This when Lufthansa, Air France, American Airlines etc are all being supported bu their governments. Even EZJ, it appears is being offered favourable loan conditions by UK GOV.

Let's not forget, that these cabin crew have been volunteering at Nightingale and other hospitals only to be rewarded with losing their jobs....potentially with just statutory redundancy payments.

Both BA and UK GOV should be ashamed of themselves for seeing the loss of 12,000 jobs as being the only option available.

BoJo and BA could live to regret this moment.

[qantas] 28/4/2020 19:34

Please do your own research as always

[festario] 28/4/2020 19:33

Beautiful post

[hamhamham1] 28/4/2020 19:32

Invest in UK holiday parks then;)

[careful] 28/4/2020 19:29

Will demand return to normal after the lockdown?

I imagine that air travel will become more exclusive and expensive.
No more cattle class or squeezy jet.

More space per passengers, more luxurious treatment, more status.
Up the prices by 25%, take the gift of lower fuel costs.
There is business model here.

Good will come out of this, the masses will have to get used to pitching a tent near Clacton and buying the kids a bucket and spade.
And they will love it.

[hamhamham1] 28/4/2020 19:27

Share price could be up a lot or down a lot tomorrow, tackling issues vs near term income forecasts. Interesting to see at 8am.
My idle guess is up 10%.
But happy to watch.

[warranty] 28/4/2020 19:19

As such a critical part of GB infrastructure it may be necessary for the government to either nationalise or take a large stake in IAG as they did with the banks. Either way it will severely dilute shareholders.

[hamhamham1] 28/4/2020 18:27

Look at airlines in the US..