BA TALKS TRUNDLE ON June 30, 2009 BRITISH AIRWAYS will today re-start last ditch talks with its unions in a desperate bid to avert strike action, having failed to reach agreement before yesterday’s self-imposed deadline. It is thought that Unite and other unions could not agree with BA on a range of issues, including compulsory redundancies. Willie Walsh, the airline’s chief executive, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 29, 2009 FINANCIAL TIMES BT’S PENSION SCHEME TO HOLD LESS IN EQUITIESThe BT Group Pension Scheme had only enough money at the end of 2008 to pay about 57 per cent of promised benefits if the telecommunications company were to become insolvent, and said it intended to pare back sharply its future investments in equities in the [...]
GIRL POWER IN THE CITY June 28, 2009 Never one to pass up the chance to dwell upon the successes of the ladies in the business world, The Capitalist has been perusing this year’s list of the top 35 women under 35 with interest. The list is compiled by Management Today, and the world of the City, as ever, features heavily. Nestled alongside [...]
How London City Airport’s veteran boss is keeping his sights set high June 28, 2009 Whenever you meet Richard Gooding, London City Airport’s relaxed-looking chief executive, you can’t help feeling he has seen it all before – and after clocking up 42 years in the airline business, he probably has. Aged just 18, Gooding left rural Suffolk to work as an apprentice for British European Airways – which later became [...]
THE TIPSTER OIL PRESSURE COULD DRIVE PRICES UP June 28, 2009 OIL stocks have been finding their way into many portfolios recently, with US crude back above $70 per barrel and the threat of further disruption in Nigeria helping to support prices. New problems at Gazprom and in the Ukraine could mean further unease in the energy sector, and prices could rise further as we move [...]
BA braced for cabin crew uproar June 28, 2009 British Airways is braced for contentious talks with its unions today, over cost cutting and redundancies at the company. The company set a deadline for tomorrow to reach a deal with its unions.
BA STAFF AGREE TO WORK FOR FREE June 25, 2009 EIGHT HUNDRED British Airways (BA) staff will work for nothing next month, after the struggling airline convinced 7,000 employees, or 17 per cent of its workforce, to take a pay cut. Chief executive Willie Walsh, who earns £735,000 a year, said the staff would save the airline around £10m. Walsh has already agreed to work [...]
How did the mighty British Airways wind up asking staff to work for free? June 25, 2009 STRANGELY enough British Airways’ (BA) many problems began at the end of the 2006-07 financial year when it posted record results of £922m. Until then banks were happy to pay £4,000 to fly across the Atlantic. But the recession meant that business and first class fares from London to New York – BA’s lifeblood – [...]
WHAT FUTURE DOES BRITISH AIRWAYS FACE? June 25, 2009 DOUGLAS MCNEILL ASTAIRE SECURITIESIn many ways, BA is well placed. It has ample stock reserves and can tap the stock market for more cash. The trading environment is difficult because of the absense of premium class passengers, but that traffic will return. But if oil spikes like we saw last summer, it will be a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 24, 2009 FINANCIAL TIMES CHIP MAKER MOVES TO QUASH BID SPECULATIONImagination Technologies has reiterated that it expects to remain independent, despite market speculation to the contrary and heavy share buying in the chip designer. Intense buying on the London Stock Exchange saw more than 12m shares change hands and 9.7m sold at 150p a share, amid speculation [...]