Less Ads, More Data, More Tools Register for FREE

Pin to quick picksInternational Airlines Share News (IAG)

Share Price Information for International Airlines (IAG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 168.05
Bid: 167.95
Ask: 168.05
Change: 3.05 (1.85%)
Spread: 0.10 (0.06%)
Open: 166.65
High: 168.40
Low: 166.15
Prev. Close: 165.00
IAG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

British Airways' Treatment Of Staff Is National Disgrace, Say UK MPs

Sat, 13th Jun 2020 10:43

(Alliance News) - British Airways' treatment of its workforce during the coronavirus pandemic "is a national disgrace", UK members of Parliament claimed Friday.

A report by the Commons Transport Select Committee accused the airline of a "calculated attempt to take advantage" of the crisis by cutting up to 12,000 jobs and downgrading the terms and conditions of the bulk of its remaining employees.

The carrier, part of International Consolidated Airlines Group SA, insisted no decisions have been made and it is doing everything it can to "sustain the maximum number of jobs".

Other aviation companies have also announced thousands of redundancies, including easyJet PLC, Ryanair Holdings PLC, Virgin Atlantic, Rolls-Royce Holdings PLC and Airbus SE.

The cross-party committee of MPs acknowledged that job losses in the sector "may sadly be inevitable" due to the huge reduction in air travel as a result of Covid-19.

But it urged UK-based employers not to "proceed hastily" by making large numbers of people redundant while the government's furlough scheme is in place.

Unions told the committee they are opposed to what they described as a "fire and rehire" approach being considered by British Airways.

They stated the airline is proposing to give redundancy notices to most of its 42,000 workers and offer jobs with new terms and conditions to a proportion of them, if it cannot reach an agreement on job cuts and other changes.

The minimum 45-day consultation period for some workers ends on Monday.

BA has had discussions with pilots' union Balpa, including over the possibility of voluntary redundancies.

But the other two main unions representing its workers – Unite and GMB – are not engaging in talks.

The committee found that British Airways had received nearly GBP35 million from the government as of May 14 by furloughing 22,000 staff.

Willie Walsh, chief executive of British Airways' parent company IAG, told the MPs that the amount of money the airline received from the scheme in April was equivalent to less than two days of staff wages.

Unions have argued that the airline could survive even if all its planes were grounded for 12 months.

The committee's report stated: "The behaviour of British Airways and its parent company towards its employees is a national disgrace.

"It falls well below the standards we would expect from any employer, especially in light of the scale of taxpayer subsidy, at this time of national crisis."

There have been calls from some MPs for British Airways to be stripped of some of its lucrative take-off and landing slots at Heathrow as punishment for the treatment of its workforce.

Tory MP Huw Merriman, who chairs the committee, said: "We will continue to bring pressure where we can, including the airport slot allocation process.

"This wanton destruction of a loyal workforce cannot appear to go without sanction by Government, parliamentarians or paying passengers who may choose differently in future. We view it as a national disgrace."

British Airways said in a statement: "Merriman made clear several weeks ago that the Transport Select Committee's report would be 'fuelled by the kind and impassioned messages' he received, rather than the facts.

"The facts are clear. The government has no plans to help the sector restart and recover as evidenced by the introduction of the 14-day quarantine regulation.

"We find ourselves in the deepest crisis ever faced by the airline industry. A crisis not of our making but one which we must address.

"We will do everything in our power to ensure that British Airways can survive and sustain the maximum number of jobs consistent with the new reality of a changed airline industry in a severely weakened global economy."

Unite general secretary Len McCluskey said: "The case the company makes for sacking 12,000 and trashing the wages of those who stay on the workforce is full of holes because it is a transparent effort to generate profits out of a crisis.

"BA is fooling nobody. Never before has the country witnessed such wholesale mistreatment of a UK workforce and such brutal industrial thuggery."

The committee's report into the impact of the pandemic on the aviation sector also urged the government to abandon its 14-day quarantine rule at the end of June.

It called for a "more targeted and nuanced border control policy", allowing people travelling from countries where the infection rate of Covid-19 is relatively low to enter the UK on a less restrictive basis.

A government spokesman said: "We continue to work at speed to help protect the long-term future of the sector, however we will always put public health first, and we must not risk an extremely damaging second wave of the virus."

By Neil Lancefield, PA Transport Correspondent

source: PA

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
13 Dec 2023 14:22

Spanish airline Volotea to increase fleet to 45 jetliners in 2024

MADRID, Dec 13 (Reuters) - Spanish low-cost airline Volotea plans to increase its fleet to 45 commercial aircraft next year up from 41 now as it plans to expand its short- and medium- haul route network, a spokesperson said on Wednesday.

Read more
12 Dec 2023 17:16

Portugal's TAP expects slower but sound 2024 revenue growth, CEO says

LISBON, Dec 12 (Reuters) - Portugal's flag carrier TAP expects to deliver strong results again in 2024, though with more moderate revenue growth, which should maintain its attractiveness to potential buyers, CEO Luis Rodrigues said on Tuesday.

Read more
7 Dec 2023 16:59

LONDON MARKET CLOSE: Stocks mute as eyes turn to US jobs data

(Alliance News) - Stock prices across Europe were muted on Thursday, as investors cautiously eye the next set of US jobs data.

Read more
7 Dec 2023 15:03

London close: Stocks weaker as investors look to central banks

(Sharecast News) - London markets closed lower on Thursday as investors reacted to lacklustre Chinese trade data and the latest UK house price figures.

Read more
7 Dec 2023 12:06

LONDON MARKET MIDDAY: Stocks muted amid pre-US jobs data nerves

(Alliance News) - London's FTSE 100 was slightly lower early on Thursday afternoon, with the mood in global markets cautious as investors eagerly anticipate Friday's US jobs data.

Read more
7 Dec 2023 10:16

LONDON BROKER RATINGS: JPMorgan lowers IAG; Exane BNP cuts Vodafone

(Alliance News) - The following London-listed shares received analyst recommendations Thursday and Wednesday:

Read more
7 Dec 2023 10:10

JP Morgan cuts IAG to 'underweight'

(Sharecast News) - Analysts at JP Morgan downgraded British Airways parent company International Consolidated Airlines Group from 'neutral' to 'underweight' on Thursday as it turned "more cautious" on the sector.

Read more
7 Dec 2023 08:09

LONDON BRIEFING: Frasers confident; DS Smith profit down, CEO to leave

(Alliance News) - London's FTSE 100 made a slow start on Thursday, after equities in Asia struggled following Chinese trade data which failed to soothe growth worries about the world's second-largest economy.

Read more
28 Nov 2023 16:54

LONDON MARKET CLOSE: European stocks perk up but end day mixed

(Alliance News) - European equities closed off session lows during a mixed day on Tuesday, while stocks in New York went into the afternoon in the green, as comments from Federal Reserve officials cemented expectations that the US central bank has already enacted its last hike of the cycle.

Read more
22 Nov 2023 14:41

Aurrigo inks USD290,000 deal with IAG for Cincinnati airport in US

(Alliance News) - Aurrigo International PLC on Wednesday said that it has signed an agreement with International Consolidated Airlines Group SA for the deployment and demonstration of its autonomous aviation solutions.

Read more
21 Nov 2023 15:19

London close: Stocks slip ahead of FOMC minutes, Autumn Statement

(Sharecast News) - London stocks finished in the red on Tuesday as investors examined the latest UK borrowing data ahead of Wednesday's Autumn Statement.

Read more
21 Nov 2023 09:57

IN BRIEF: International Consolidated Airlines seeks to restore payouts

International Consolidated Airlines Group SA - Madrid-based owner of British Airways, Iberia, Vueling and Aer Lingus - Hosts capital markets day for institutional investors and analysts on Tuesday, saying its 2023 outlook remains unchanged. "We expect 2023 to be a year of strong recovery in our margins, operating profit and balance sheet and towards pre-Covid-19 levels of capacity," the company had said with its third-quarter results back in October.

Read more
21 Nov 2023 09:20

IAG reiterates commitment to resuming dividends

(Sharecast News) - British Airways owner IAG on Tuesday set out its medium-term targets and pledged its commitment to resume paying dividends once its balance sheet and investment plans are "secure".

Read more
17 Nov 2023 13:59

British Airways' green fuel project wins UK government backing

(Alliance News) - A partnership involving International Consolidated Airlines Group SA's British Airways to develop lower carbon aviation fuels has secured a share of new UK government funding.

Read more
15 Nov 2023 09:41

LONDON BROKER RATINGS: Deutsche likes Compass; Numis cuts Elementis

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.