Kingmaker2 Posted April 22, 2010 Share Posted April 22, 2010 But they've got plenty of cash, they've said so, but you obviously think that the lower paids have to fund the higher paids by taking a cut. Errr they have enough to cover costs like the Volcano shut down, but not enough to cover its pension deficit or get the company back into long term profit. BA cash reserve is £1,7 billion, BA pension deficit is £3.7 Billion. Link to comment Share on other sites More sharing options...
poppins Posted April 22, 2010 Share Posted April 22, 2010 Why don't they just fire the lot of them, Ronald Reagan had the balls to fire all the Air Traffic Controllers dind't he ? that put all them in a state of shock, they still can't get over it till this day Link to comment Share on other sites More sharing options...
LaurelCanyon Posted April 22, 2010 Share Posted April 22, 2010 Errr they have enough to cover costs like the Volcano shut down, but not enough to cover its pension deficit or get the company back into long term profit. BA cash reserve is £1,7 billion, BA pension deficit is £3.7 Billion. Correction. Actually BA recently announced that they had a huge reserve of cash, even allowing for the ash crisis. Link to comment Share on other sites More sharing options...
Wildcat Posted April 22, 2010 Share Posted April 22, 2010 They were also running in profit prior to last year and the global recession. If they maintained their operating model they would have been back in profit without the workers having to make any cuts. The crisis is being used by people like Willie Walsh to attack low paid workers to maximise his profits and those of the investment classes. Link to comment Share on other sites More sharing options...
Kingmaker2 Posted April 22, 2010 Share Posted April 22, 2010 Correction. Laurel I don't quite see what you are getting at. BA cash reserve £1.7 billion , BA pension deficit £3.7 billion. So even if BA paid all its cash reserve into the BA Pension fund, leaving the company very vunerable to such incidences like the ash cloud crisis, it would still have a pension deficit of £2 billion! Link to comment Share on other sites More sharing options...
Wildcat Posted April 22, 2010 Share Posted April 22, 2010 Laurel I don't quite see what you are getting at. BA cash reserve £1.7 billion , BA pension deficit £3.7 billion. So even if BA paid all its cash reserve into the BA Pension fund, leaving the company very vunerable to such incidences like the ash cloud crisis, it would still have a pension deficit of £2 billion! Every company has a Pension deficit. It is the way they work current employees pay for ex-employees. Every company runs like that and always will. Link to comment Share on other sites More sharing options...
Kingmaker2 Posted April 22, 2010 Share Posted April 22, 2010 Every company has a Pension deficit. It is the way they work current employees pay for ex-employees. Every company runs like that and always will. Not every company has a massive pension deficit of 3.7 billion (Some estimates put it higher at 5-6 billion) BA is said to be in the top 10 biggest pension deficits of UK private companies and certainly the largest of any UK airline. Link to comment Share on other sites More sharing options...
Wildcat Posted April 22, 2010 Share Posted April 22, 2010 Not every company has a massive pension deficit of 3.7 billion (Some estimates put it higher at 5-6 billion) BA is said to be in the top 10 biggest pension deficits of UK private companies and certainly the largest of any UK airline. It is the largest UK airline. That should not be a surprise to anyone. If Willie Walsh is that concerned perhaps he could scrap his pension? Link to comment Share on other sites More sharing options...
Kingmaker2 Posted April 22, 2010 Share Posted April 22, 2010 It is the largest UK airline. That should not be a surprise to anyone. I would imagine BA's pension deficit would be one of the largest amongst any of the world's airlines. Link to comment Share on other sites More sharing options...
Wildcat Posted April 22, 2010 Share Posted April 22, 2010 I would imagine BA's pension deficit would be one of the largest amongst any of the world's airlines. The Pensions for low paid cabin crew will be a minor detail compared with the pensions for the executives, pilots and managers. Why do they always pick on the low paid to make up losses. Why should the low paid sit back and let them. Link to comment Share on other sites More sharing options...
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