I would be very interested in seeing how much in wages to staff BA have saved recently…..they cut the workforce substantially during the Covid crisis and used this to their advantage, getting rid of older, more expensive staff.
The airline is now recruiting in all areas, and of course this means on less wages as the pay scale doesn’t reach anywhere near what was paid out.
A massive plus for shareholders
Woody- Absolutely spot on. Spoke to my mate last week who stayed at BA and he said they are recruiting new staff at a fast rate. Even asked if I would ever consider going back which I politely declined as I love my new job and couldn’t survive on the crap wages now on offer.
Many will, meaning that BA have cut their staff costs massively….another big plus for the airline.
Mambo, Trust me…the vast majority of the old workforce have moved on to far better and more rewarding things since BA (myself included. The sad thing is that Customer Service has definitely suffered….not that BA cares as they will always fill the seats, however crap the service is due to schedules and their name.
As you say…good for the bank balance
Malkis- This has been BAs plan for many years. Staff that fought for years for their pay and conditions were tossed aside due to ‘cost’ and cheaper staff have been employed, on far worse pay and conditions.
Adding to that the unions are weak and bow down to what the management ask of them.
Not so good for being a worker there…but for a cost cutting exercise it was spot on.
For what it’s worth…..from personal experience, the vast majority of people who I see with life threatening symptoms after being confirmed with COVID have not been vaccinated. And again, from personal experience, the vast majority of these people are unvaccinated due to “personal choice”
Totally agree mate…..adding to that, BA have the routes and the timings that makes people fly with them. On numerous occasions you would hear people say that they would “never fly BA again”…and seeing them the next week in First or Club…all paid for by their companies of course.
BA has seen out SARS, Bird Flu, 2 gulf wars and 9/11 ( to name a few) and it wasn’t that long ago that staff were told their was a minimal amount of money in the kitty and “cash is king” (remember that ?)
BA/IAG are in a far better position now that’s for sure. Again it’s just my opinion
Thankyou.
Definitely see this as a long term investment and when I got into it I must admit I did think there would be some light at the end of the tunnel by now.
I do see the “variant” thing as being a bit overstated. It sells papers and makes headlines, however there will now continue to be new variants forever and we as a human race are just gonna have to get used to it and, like flu, have our shots every year to hopefully protect us.
Bookings on BA are through the roof and I’m hoping, maybe naively, that next year could be a good one.
Here’s hoping
First time poster so go gentle on me.
The way are see these shares are they are massively undervalued. BA/IAG have billions in reserves and are definitely one of the stronger players in the industry to weather the storm, where others haven’t. The advantage is that when others fail, IAG will mop up the fallout.
Another plus for BA/IAG is that they have massively trimmed their workforce, getting rid of many of the older, higher earning staff (like me) and got in a much cheaper workforce who are less likely to take industrial action, as well as having a weak union.
In my view, for what it’s worth, these shares may very well go down in the short term but in the long term of 2-3 years, anyone getting in at these prices will eventually do very well indeed. Besides what’s the use of £50k sitting in a bank, earning £200 a year interest. I’m in at an average of 1.49 and hope in the near future to buy some more to bring that down.
As I say, first post so forgive my probable simplistic terms. Someone will probably point out the error of my ways but it’s just an opinion.