RE: WARNING! Bailout Inevitable17 Jun 2020 12:55
A bit confused about how any of this post is factually correct? The loss per day is 20mil if planes aren’t flying. There are still circa 20 short haul flights and 30 longhaul per day (granted that’s nowhere near the same levels, but it reduces the 20mil per day figure). The cargo being carried and government contracts have brought in over 800 million. BA has more cash reserves than 8 weeks else they would have seeked gov help. At the beginning of covid they had 400 days worth. Shorthaul will be wiped out? Why? They’ll be the first to be flying when restrictions are dropped in Europe - in fact they haven’t ever stopped taking holiday makers, throughout covid, to Lisbon and Nice let alone the other cities that have had daily flights. When the gov forces BA to fly slots they’re hardly going to fly a 787 to Paris. It’ll be 320s as always. The 747 fleet IS retiring early because it guzzles fuel, the 380 won’t be flying because it needs 80% capacity to make money. The 777-200s have already been retired over the last few months. It’ll be a long time before either gets close to 2019 levels but neither are going anywhere.