BA reports massive losses

Good airlines don’t go bust in hard times. The time period 2008/2009 is one of the most problematic, as it had seen preposterous fuel prices and a sharp decline in demand, especially in business travel.

BA may have announced losses, we don’t know about cash flow. Announcing huge losses is normally no direct threat, I guess the board also uses these losses as leverage versus the unions.
I guess they have pretty healthy background, like many big fishes in Europe. Their American counterparts have much worse backing.

However, there gonna be casualties and it will not be funny.

Knock the 270m fine off

Total (various) fines for the year were £478m.

1L.

Knock the 270m fine off and you are down to a 131m loss…and every other employee is made to suffer!

Plus the reported cost of the T5 move and subsequent chaos was a cool £160 million PLUS subsequent loss of revenue.(conservative guess £5million) means we should and could have made a profit 😡

Yes I agree OneLeft, all the fines accrued by our fine management give these figures a false reading. 😡
Re the management trying to impose new T&C’s, we’re in the middle of a ballot that should reject all the new proposals which are totally unacceptable. 😡

Actually Mr Walsh has announced he is working for no pay in July, as are some of his other executives. I knwo it’s only one month, but to give up 1/12th of your pay isn’t a bad statement.

What WW and ONE of his executives are doing is saying to the workforce we’ve given something up now you’ll have to too.

The difference is that what he wants the workforce to give up is terms, conditions and salary for good, not for one month or even the two years he’s been offered, constantly rejecting the various unions’ offers of short term solutions for a short term situation. To put this into context in some departments he is looking for the equivalent of £6000 per head in savings, the vast majority of that coming directly from peoples salaries, and I’m talking from salaries of £15-20K, not the top end earners.

Also lets not forget that without the £478m in various fines this year we would have made a profit, and that’s without him continuing to pay the salaries of the managers dismissed over the fines because, surprisingly, they can’t find new jobs. Then there’s the managers made redundant with sizeable pay-offs then employed a week later as consultants at three times the cost, then the cost of the T5 opening farce, etc., etc., etc., etc…..

1L.

Okay okay I’ll say it…………..
And this is their results in the first successful year since rebranding themselves as London Airways😀

Most likely the next set of results will be good resulting in Willie and his crew getting their bonuses back while the workers will have been tricked into accepting pay reductions.
Good on BALPA for calling the bluff.

Actually Mr Walsh has announced he is working for no pay in July, as are some of his other executives. I knwo it’s only one month, but to give up 1/12th of your pay isn’t a bad statement.

Does this include the virgin cartel charges?

I believe so, along with all the other fines and costs our illustrious leaders have incurred in the last year.

1L.

Does this include the virgin cartel charges?

At least they’re not broke like a certain UK airline… 🙁

This surely is a fuel price hedging problem. The underlying performance is quite good compared to other airlines. BA avoided the worst of the fuel price surge earlier by hedging and now the same device results in paying over the odds when the price falls.
Most likely the next set of results will be good resulting in Willie and his crew getting their bonuses back while the workers will have been tricked into accepting pay reductions.
Good on BALPA for calling the bluff.

😮 And people thought bmi’s losses were bad?