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[m1k3y1] 01/5/2020 09:06

Maximum statutory redundancy payment is £16,140.
BA saying they will only pay statutory redundancy .

So their costs will be very low , certainly not 1B.

Redundancy payments in Europe are substantially higher , which is why, no doubt, IAG are targetting BA with British Employees and not the rest of their European staffed airlines.

[hamhamham1] 01/5/2020 09:02

Travel/Leisure are this years Banks (when it come to recessions).

[npp62] 01/5/2020 08:57

Good luck with that Ryanair, if you work on that basis no companies anywhere would get any state funded aid, and you could extend that to individuals being furloughed on that basis, which would be ridiculous. Anyway I'm not sure how many AOCs they hold, so this might not be relevant, especially as many UK citizens are employed by Ryanair (on awful terms no doubt) but being mainly an Irish asset, and certainly with an Irish AOC, why would a UK Government aid Ryanair any more than they would Air France, or Lufthansa!?

[loganair] 01/5/2020 08:49

Ryanair has said it plans to cut 3,000 mainly pilot and cabin crew jobs, implement pay cuts of up to 20 per cent, and close a number of aircraft bases across Europe.

Ryanair currently employs about 17,000 people, of whom 5,500 are pilots, while another 9,000 are employed as cabin crew.

Ryanair said it expects to operate less than 1 per cent of its scheduled flying program in April, May and June. Traffic of less than 150,000 passengers will be 99.5 per cent behind the quarterly budget of 42.4 million passengers.

When scheduled flights return in Europe, Ryanair said it expects traffic on reduced flight schedules will be stimulated by significant price discounting, and below cost selling from flag carriers with “huge state aid war chests”.

“When Ryanair returns to meaningful flying from July, the competitive landscape in Europe will be distorted by unprecedented volumes of state aid from some EU Governments to their national airlines.”

The airline said such activity was in breach of EU rules, and that it would challenge the bailouts in EU Courts to “protect fair competition in Europe’s aviation market”.

Ryanair also said it was in active negotiations with both Boeing and Laudamotion’s A320 lessors to cut the number of planned aircraft deliveries over the next two years.

The group expects to report a net loss of over €100 million in the first quarter, with further losses in the second quarter (peak summer).

[azalea] 01/5/2020 08:45

BA is parking of its planes at Bournemouth airport- cheaper. Its also reported that it is unlikely to return to Gatwick as part of a Heathrow hub

[loganair] 01/5/2020 08:44

Spanish airlines Iberia Lineas Aereas De Espana and Vueling Airlines SA have signed separate loan agreements for a combined 1 billion euros ($1.1 billion) to weather the disruption caused by the pandemic, parent IAG SA said in a statement.

Iberia’s 750 million euros loan and Vueling’s 260 million euros loan, will be provided by a group of banks and it’s conditional on the Instituto de Credito Oficial’s support, according the statement. The five-year amortizing loans can be repayable at any time. The agreement excludes other IAG companies from tapping on any funds of the two Spanish units.

IAG doesn’t expect passenger demand to recover to 2019 levels for “several years,” it said in a statement this week.

[npp62] 01/5/2020 08:04

Not sure if it's particularly relevant but crews at Gatwick are on completely different contracts to those at LHR... As we've seen in the past where BA crew actions only affected Gatwick and not Heathrow. How the boot is now firmly on the other foot!... It's all very sad actually. So many people losing their jobs.

[demo trader] 01/5/2020 08:02

Ryanair to cut 3000 jobs

IAG to take aid from Spain Gov.

[jailbird] 01/5/2020 06:40

Redundancy costs will be near £1b?Surely

[jailbird] 01/5/2020 06:38

100s of millions

[montyhedge] 01/5/2020 06:28

Agree how much will it cost, IAG in redundancy pay.

[montyhedge] 01/5/2020 06:20

Agree, funny 7 months ago pilots turned down the pay offer, cost IAG 125m ruined holidays. Now lucky to have a job.

[jailbird] 01/5/2020 06:18

Unions are weak now here What can they do .. threaten strike !

[jailbird] 01/5/2020 06:16

BA is restructuring whole airline There will be job losses and more outsourcing of jobs

[montyhedge] 01/5/2020 06:15

IAG going to have trouble with the unions sacking the pilots if they leave Gatwick.

[jailbird] 01/5/2020 06:15

Gatwick will be closed indefinitely Consolidation of all flights to LHR

[962962] 30/4/2020 23:50

m1k3y1.have you moved to the same planet as Monty ?
Quote "How anyone on this BB can say that it is ok for IAG to sack 19,000+ employees and tear up contractual agreements is beyond me ."
1.Cabin crew must be in the region of 15000.No numbers for redundacy at the moment.
2.Flight crew roughly 1 in 4 to go,approx 1000+
Forget EVERYBODY else,and loose EVERY single cabin crew member,and that equates to 3000 less than your quoted figure,and 4000 above IAG quoted figure

[npp62] 30/4/2020 23:48

Are you sure you don't have too many figures there??

[m1k3y1] 30/4/2020 23:04

962962...total number of crew and pilots employed by BA.
BA saying all will be affected.

[m1k3y1] 30/4/2020 23:03

NPP not commercially sensitive

[npp62] 30/4/2020 22:35

Trust me, you need to be very very careful what you say on these boards. If you've got commercially sensitive information, you really need to think first, and be careful what you write.

[962962] 30/4/2020 22:23

M1K3Y1.Where does 19000+ come from.My reading over the last 2 days is UPTO 12000.It is obvious from your posts you are either an insider or have insider information,please feel free to share

[careful] 30/4/2020 21:32

No one is saying it is ok to put people out of work and offer inferior wages and conditions.

But the airline cannot afford to pay those terms and employ the same number of staff anymore.
That is an economic reality.

If it was our job on the line, then obviously we would want to survive.

Many of us will become poorer after this lot is over.
Higher taxes, dearer food, dearer air travel.

try to understand why the uk per capita is wealthy, and some African countries are starving. We have no right to permanent wealth.

[m1k3y1] 30/4/2020 21:13

How anyone on this BB can say that it is ok for IAG to sack 19,000+ employees and tear up contractual agreements is beyond me .

They have 9.5B euro in liquidity and have plenty of other options to explore , other than this.

It is pure opportunistic exploitation of employees and the virus situation.