IAG prel. kvartalsrapport - British Airways minskar personalstyrkan med 12.000

Diskussion i 'British Airways, Executive Club' startad av Homer, 28 April 2020.

  1. Homer

    Homer Medlem


    (Ingenting om Iberia, Aer Lingus, Vueling och LEVEL )

    In light of the impact of COVID-19 on current operations and the expectation that the recovery of passenger demand to 2019 levels will take several years, British Airways is formally notifying its trade unions about a proposed restructuring and redundancy programme. The proposals remain subject to consultation but it is likely that they will affect most of British Airways' employees and may result in the redundancy of up to 12,000 of them.

    As previously announced, British Airways has availed itself of the UK's COVID-19 Job Retention Scheme and furloughed 22,626 employees in April.
    IAG preliminary Q1 results and update





    Letter to colleagues from Alex Cruz, Chairman and CEO at British Airways
    British Airways - PREPARING FOR A DIFFERENT FUTURE
     
    danielhog gillar detta.
  2. Homer

    Homer Medlem

    Intressant synpunkt från Londonairtravel


    It’s worth remembering that the Competition & Markets Authority is still reviewing British Airways’s joint business with American Airlines.
    The failure of Virgin Atlantic and Norwegian could mean they are forced to end it.

    Whilst this was originally an EU matter, the CMA has stepped in now because of the likelihood that the EU will no longer have jurisdiction in 2020.
    Investigation of the Atlantic Joint Business Agreement - GOV.UK
     
  3. Homer

    Homer Medlem

    Iberia och Vueling får låna 1miljard € av spanska staten,
    IAG – International Airlines Group – IBERIA AND VUELING SIGN SYNDICATED LOAN AGREEMENTS


    Headforpoints drar slutsatsen:
    A cynic might suggest that the only reason that British Airways has refused to access the Covid Corporate Finance Facility is to give it cover
    to pursue its redundancy programme, which itself now appears to be cover for finally ridding itself of high-paid legacy cabin crew.

    Iberia and Vueling accept €1 billion bail-out from Spain
     
    Brandforce gillar detta.
  4. Concorde

    Concorde Founding Member

    Ort:
    The World
    Land:
    Sverige Sverige
    Osmakligt. Har sett breven British Airways mgmt skickade ut till Piloter, crew, groundstaff osv...
    Acceptera nya avtal med usla villkor och riktigt dåligt betalt, eller få sparken. Givetvis måste man skära på kostnaderna, men sättet dom väljer att göra det på är groteskt och utan moralisk kompass. Folk som har arbetat där i 30+ år och gett sin själ till "The Worlds Favourite Airline" får ett stadigt mitten finger som tack för visad lojalitet.
     
    Mr Basic och Ricci gillar detta.
  5. Berglund

    Berglund Medlem

    Ort:
    ARN
    Land:
    Sverige Sverige
    Glöm inte att dessa 30+års medarbetare också fått kungligt betalt under många år för sagda lojalitet.
     
  6. Concorde

    Concorde Founding Member

    Ort:
    The World
    Land:
    Sverige Sverige
    Om 33K GBP per år i baslön efter 30 år kungligt betalt är jag Warren Buffet.
    Skämt åsido. Visst finns det legacy crew som har bra betalt. Men dom är färre för varje år och har en erfarenhet som en 20 åring inte kan ersätta.
     
    NotRyan gillar detta.
  7. Concorde

    Concorde Founding Member

    Ort:
    The World
    Land:
    Sverige Sverige
    Transport Select Committee - Immediate release

    Impact of Coronavirus on UK Transport: Aviation

    Witness update and Chair comment on British Airways participation

    - The Transport Committee intends to hold an evidence session with Willie Walsh, Chief Executive of the International Airlines Group and parent company of British Airways, on Monday, 11 May.

    - The Airport Operators Association has been added to the evidence session on May 6.

    On 24th April, the Transport Select Committee agreed to hold an inquiry on the Aviation sector amidst the challenges from Covid19.

    The first evidence session on May 6 will comprise separate panels covering consumer rights, airport operators and representatives from the airline industry. As the UK’s largest airline, British Airways (British Airways) was invited to give evidence and face questioning.

    British Airways refused to attend explaining that Willie Walsh, the Chief Executive of its parent, International Airlines Group (AIG), would be unavailable due to a board meeting. It was made clear that no other representative would be made available.

    Subsequent to this response:
    IAG announced plans to make 12,000 of British Airways’s 42,000 workforce redundant and vary the terms and conditions of British Airways staff who retain their jobs;
    IAG took out a EUR1 billion loan, guaranteed by the Spanish Government (having previously stated that it would administer ‘self-help’ before applying for Government aid and being critical of competitors who had requested state-assistance); and
    An investigation has estimated that airlines, including British Airways, are sitting on £7 billion of passenger refunds and offering future travel vouchers rather than returning the cash as consumer rights require.

    As a result of these developments, the Transport Select Committee reiterated that British Airways should attend the inquiry on 6 May. The Committee were understanding of Mr Walsh’s duties in the boardroom and explained that any alternative senior manager of British Airways or IAG would be welcomed. British Airways responded that all senior managers may also be needed to attend the boardroom during the allotted slot. British Airways thereby refused to attend the evidence session on 6 May, as has been reported in media.

    Today, Mr Walsh has offered additional dates in order to give evidence to the inquiry. Although parliamentary resources are more restricted than usual, a provisional evidence session has become available on 11 May. More details will be announced in due course.

    Chair of the Transport Committee, Huw Merriman MP, said:

    “It seems remarkable that British Airways cannot find anyone with sufficient responsibility to join others from the aviation sector for our Select Committee inquiry this Wednesday. With so many questions, this would be an ideal platform for British Airways to set out its challenges, to reassure and seek Parliamentary support should it need more assistance from the UK authorities.

    “In March, British Airways’s parent, IAG, warned against the UK Government bailing out its competitors and said it would administer ‘self-help’ before seeking support. British Airways’s UK staff are now facing mass redundancies or working on vastly reduced terms. British Airways’s passengers are not being given flight refunds they are entitled to.

    “In Spain, it would appear that British Airways’s parent has adopted a different strategy of seeking substantial Government financial support and maintaining its operations and employee numbers.

    “It’s vital that British Airways reassure their staff and passengers that they are not using this epidemic to reduce their UK wage bill and competitors, in order to maximise future profits if and when the market returns.

    “Judging by the huge volume of emails which MPs are receiving from concerned staff and passengers, it is more important that we hear from British Airways and IAG than demonstrate their lack of delegated responsibility. We therefore intend to proceed with a separate session for British Airways and Mr Walsh on Monday 11 May in the event the limited resources in Parliament can accommodate. We look forward to meeting Mr Walsh and hearing his strategy for British Airways in these challenging times.”

    The Committee is scheduled to hold a third session on 20 May with representatives from trade unions and the Aviation Minister.
     
    NotRyan gillar detta.
  8. Homer

    Homer Medlem

    Nu är rapporten släppt i sin helhet



    The Group is burning €200 million per week albeit with a €10 billion cash cushion

    50% of scheduled flights will operate in July, subject to travel restrictions being removed

    2019 passenger volumes are not expected to return until 2023

    68 aircraft deliveries across the group have been delayed

    The group has lost €1.3 billion on its fuel and currency hedging strategy

    Air Europa acquisition proceeding but will require price adjustment

    The Letter of Intent to acquire 200 Boeing 737 MAX aircraft remains in place

    IAG or British Airways – it isn’t clear which legal entity – has accessed the UK Government’s Coronavirus Corporate Finance Facility.

    https://www.iairgroup.com/~/media/F...ent for the three months to March 31 2020.pdf

    Coronavirus: British Airways owner hopes to revive flights in July - BBC News
     

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