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[m1k3y1] 04/5/2020 20:37

careful......BA have been very unreasonable over many many years.
They have also benefited from their unreasonableness a great deal.

I you think that all British Companies should do the same , be prepared for the unemployment figures to skyrocket, along with a substantial increase in benefit claims and payments , all funded by your taxes.

[careful] 04/5/2020 20:10

The unions have been unreasonable in the recent past.
Strikes and threatened strikes, greedy demands.

Maybe the management think it is payback time.

[m1k3y1] 04/5/2020 19:58

962.....why would they do this to their Employees , if they were not serious ?

[962962] 04/5/2020 19:37

m1k.Thanks your confirmation.Your words "BUT to date , BA are very firm on this."Do you think this could be the biggest piece of scaremongering BA have ever pulled,and believe me I have seen a lot of their scaremongering in the past.

[m1k3y1] 04/5/2020 19:10

962....I have seen actual documents. The facts and figures I am posting are as I have seen them, in Black and White unfortunately..

I too hope that the situation will change and VR will be offered BUT to date , BA are very firm on this.

Unions have submitted court claims to both the Employment Tribunal and High Court...there may well be more to come.

[962962] 04/5/2020 18:55

m1k.Have you actually seen anything direct from BA,regarding job losses/contracts etc,or are you like me just seeing "leaked documents/an insider says",has anybody concerned actualy been given a document in black and white.I would normally say "I hope I'm wrong"but this time I hope I'm right.I THINK that BA have gone for a real foul blow below the belt,BUT it's the worse case scenario.I think there will be job losses,but not on the scale reported,and voluntary. I do think that there will be salary reductions/revised salary,No way zero hours,My guess 20% less,as the furlough figure now.Ba will Make concessions,if they do as above, not good but not as bad as being banded about now.BA will then come out with a bit of credibility,and the useless unions will be jigging around T5 telling everyone what a great job they've done and how wonderfull they are.

[m1k3y1] 04/5/2020 18:30

962....low cost out of LGW would be interesting and Level etc are would be in a good position to benefit.

Still no news about re-negotiation the Air Europa deal. MY guess is that IAG will still buy the airline but at a reduced price, maybe circa 800M, which of course will upset BA Employees even further.

I do feel as though IAG are digging themselves into a hole at the moment, even though the future may be bright !

[hamhamham1] 04/5/2020 17:59

Buywell.
It's hilarious how you talk in the 3rd person and persistantly praise yourself, or at least your 3rd party ego. Is there no one in the real world who praises you in person?

[buywell3] 04/5/2020 17:52

WB reads buywells' posts

amaretto1
3 May '20 - 06:53 - 17041 of 17151
0 1 0
Warren Buffet .. has sold out of all air line stocks...
He was holding huge stakes...
i suggest selling ....

[hamhamham1] 04/5/2020 17:37

Buffet could have bought into e.g. American Airlines back on 2012 at 50 cents a share????

[darrin1471] 04/5/2020 17:18

Surprised Buffet ever invested in a cyclical business like airlines. I would like to know the reasoning behind the investment. What could he see? I think he also said that he had been looking at airlines outside the US.
Buffet said the investment fundamentals had changed due to the US airlines taking on considerable new debt.

[loganair] 04/5/2020 17:16

Virgin has mortgage its slots.

Virgin's fleet:

4 x A350 less then 1 year old
9 x B787 4 years old
1 x B747 20 years old

Parked:

14 x A330 11 Years old
06 x B747 20 years old

[m1k3y1] 04/5/2020 16:57

962......possibly but a lot of the Virgin fleet is very old. It would only be for slots , if anything I suspect.

[loganair] 04/5/2020 16:35

General Electric is cutting as many as 13,000 jobs in its jet engine business after the coronavirus pandemic brought devastation to the aerospace industry.

GE Aviation on Monday announced plans to accelerate its cost-cutting by permanently reducing its global workforce by as much as 25% this year through a mix of layoffs and voluntary actions.

[962962] 04/5/2020 16:31

careful.You and others on this board may think i've lost the plot and been at the bottle to much,but your idea has merit.But it would not suprise me one bit if Virgin went into admin if BA made an offer.

[careful] 04/5/2020 16:23

Branson must be dreaming of pre pack administration deal.
Legalised corruption.

First they clean the company out of cash to weaken it.
Second it goes into administration.

The they re- purchase it minus the original shareholders and creditors.
All at a cut price.

This theft is justified on the pretence being that it preserves jobs.

[loganair] 04/5/2020 14:16

Rheanna Norris, Associate Analyst at GlobalData, comments: “There is a possibility that the Virgin brand could disappear from the global aviation industry altogether. Virgin Australia is in voluntary administration, the rebranding of UK airline Flybe to Virgin Connect was cancelled for obvious reasons, and now, Virgin Atlantic is asking for help.

“Rival British Airways consumes the majority of the market for full-service carriers in the UK and would be the most likely beneficiary of any change to Virgin Atlantic’s operating circumstances, this factor could lead to a rise in fares on transatlantic routes from the UK as the airline controls more of the supply.

“Major shareholder Delta has ruled out any further financial aid.

[silkstag] 04/5/2020 13:16

7 - 10 = -3 is the IAG equation in 12 months (net assets). IMHO DYOR

[spacedust] 04/5/2020 13:13

190p finish today then down tomorrow as well

[962962] 04/5/2020 13:05

1 + 1 =2 is baffling to you mony

[montyhedge] 04/5/2020 12:59

How is IAG still valued at 4 billion pounds is baffling.

[loganair] 04/5/2020 12:58

German news agency DPA reported last week that Lufthansa was mulling declaring insolvency instead of having the state intervene. The insolvency approach would see the company placed under the administration of a custodian and then allowed to restructure under the current management.

Der Spiegel reported that the German government is holding out for a stake of just over 25% in the group in exchange for financial aid, which would allow Berlin to block strategic decisions by Lufthansa management.

According to the cabin crew union Ufo, Lufthansa Chief Executive Carsten Spohr has said internally he would prefer to lead the company into this type of insolvency. In an interview with the newspaper Die Zeit, Spohr warned against having too much government influence in the company. Questions such as "if we fly to Osaka from Munich or from Zurich" should never be political, he said.

[waikenchan] 04/5/2020 12:56

Interesting to hear that fund manager Terry Smith doesn't like airlines because of they can't earn a decent ROIC over a relatively high cost of captial

There is a YouTube interview he gives on this aspect on airlines.

[loganair] 04/5/2020 12:48

As the coronavirus pandemic has halted almost all travel around the globe, Russian flag carrier Aeroflot said that in the best-case scenario its international flights could be resumed in July.

Russia halted international flights except for those bringing Russian citizens back home on 27 March.