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Willie Walsh: The Worst Of The Recession To Come  
User currently offlineLumberton From United States of America, joined Jul 2005, 4708 posts, RR: 20
Posted (5 years 6 months 2 weeks 1 day 18 hours ago) and read 9401 times:

Not a comforting thought.
http://www.ft.com/cms/s/0/c3e74ffe-5...=yahoo1&segid=03058&nclick_check=1

Quote:
Willie Walsh, chief executive of British Airways, warned on Wednesday night that the worst of the recession was “still ahead” for the global airline industry, in a bleak assessment that chimed with the grim mood at this week’s Paris air show.

The stark comments from one of Europe’s top airline executives came amid a dearth of new orders at the show that underscored the scale of the crisis facing the commercial aerospace and aviation industries.

IATA's latest numbers are ugly as well; premium travel dropped 22% in April 2009! Look at the comment on revenue.
http://finance.yahoo.com/news/IATA-P...vel-dropped-apf-15542972.html?.v=4

Quote:
MINNEAPOLIS (AP) -- More evidence emerged Tuesday that a bad economy pushes passengers to the back of the plane, as a trade group reported that traffic in the high-end airline seats fell 22 percent in April.

MINNEAPOLIS (AP) -- More evidence emerged Tuesday that a bad economy pushes passengers to the back of the plane, as a trade group reported that traffic in the high-end airline seats fell 22 percent in April.

If memory serves, IATA projected losses across all global regions at the beginning of the year, with the exception of the U.S. I believe they have backed off on that as well and now project world wide losses.

If Mr. McNerney (and Mr. Walsh) are right, many airlines will not survive.

Quote:
Jim McNerney, chief executive of Boeing, added to the gloom in Paris, saying: “I think it will be a long extended recession. I don’t see anything that will push a quick recovery. I fear a U-shaped recession. I have to plan for continuing difficult market conditions.”




"When all is said and done, more will be said than done".
46 replies: All unread, showing first 25:
 
User currently offlineComorin From United States of America, joined May 2005, 4903 posts, RR: 16
Reply 1, posted (5 years 6 months 2 weeks 1 day 17 hours ago) and read 9263 times:

I think Willie Walsh is right. We're in for a long slog through the mire.

Why:

1. Interest rates are near zero, so monetary policy is over as a weapon.
2. Fashionable frugality seems to be the order of the day.
2. BA, the world's best airline, has lost its franchise of premium TATL Club World traffic.
3. Phase 2 of the Reign of Terror is yet to hit the Western World - credit card debt, prime mortgage defaults and commercial real estate going belly up.
4. BA also has the legacy pension liability issue.

Unfortunately, events are conspiring to strike at BA's core. Why fly BA? Because it sets world standards. If you start messing with cabin crew pay, then you're stuck with "pay peanuts=hire monkeys". To a customer, cabin crew are the face of BA.

I hope BA doesn't become another LCC and lose it's hard-earned identity. Hopefully they'll weather the storm, and if WW can pull it off, don't begrudge the man the millions he will deserve. That's what CEOs are paid for.


User currently offlineLumberton From United States of America, joined Jul 2005, 4708 posts, RR: 20
Reply 2, posted (5 years 6 months 2 weeks 1 day 17 hours ago) and read 9197 times:

Comorin, I agree with your points and I also think it will be "a long slog".

This whole (downturn, crisis, recession, whatever) situation has to be viewed in the context of international macroeconomics. Consumers ain't buying; exporters ain't selling. There is a whiff of protectionism in the air. It looks like the revenue models of many of the world's premier airlines, overly reliant on the premium pax segment,are broken and will need serious re-tooling. Capacity reductions are one thing. But asking your employees to work without pay for a limited time is a remarkable admission that things are seriously hosed up.



"When all is said and done, more will be said than done".
User currently offlineADXMatt From United States of America, joined Jul 2006, 954 posts, RR: 1
Reply 3, posted (5 years 6 months 2 weeks 1 day 17 hours ago) and read 9197 times:

Too many analysts and media outlets are preaching this gloom and doom and it becomes a self fulfiling prophecy.

Why not preach the good things that are happening and let people feel more secure and less scared they might end up pumping some money into the economy and growing again.

Lets be positive instead of always being scared, gloom and doom. It's all about perception.


User currently offlineIkramerica From United States of America, joined May 2005, 21590 posts, RR: 59
Reply 4, posted (5 years 6 months 2 weeks 1 day 17 hours ago) and read 9176 times:

Yep, I think anyone who believes the rosey news reports and the recent stock market "rally" are in for a shock. People calling 10% unemployment in the USA "good" because it makes Obama look good are intellectually dishonest, considering how "bad" 6% was when bush was president. Unemployment will reach to 13-15% and that means lower spending all around, which means we can't buy our way out of this one here in the USA.


Of all the things to worry about... the Wookie has no pants.
User currently offlineSpacecadet From United States of America, joined Sep 2001, 3675 posts, RR: 12
Reply 5, posted (5 years 6 months 2 weeks 1 day 16 hours ago) and read 9104 times:



Quoting Ikramerica (Reply 4):
Unemployment will reach to 13-15% and that means lower spending all around, which means we can't buy our way out of this one here in the USA.

Except that the number of new unemployment claims have been dropping every week for about the last 2 months. Housing starts are up, manufacturing orders are up. Hell, my company is hiring.

All of the data points to the recession ending this year. Stuff doesn't *get better* when a recession is getting worse. And the data is getting better. You obviously seem to want it not to so you can prove some political point you have, but unfortunately for you, things are getting better.

Willie Walsh is talking about one industry, not the whole economy. And it's unfortunately an industry that is a lagging industry and one that has razor thin margins as it is. It's also a lot more dependent on the price of oil than the economy as a whole, and the price of oil is continuing to inch back up. (It's funny how some made fun of those of us who said the price of oil would continue to be a problem in the future after oil prices crashed late last year.) So he may well be right about what he is actually talking about. He is not talking about the overall economy from what I can tell. Ditto for Boeing, which is obviously reliant on the airlines, not the overall economy.



I'm tired of being a wanna-be league bowler. I wanna be a league bowler!
User currently offlineDL Widget Head From United States of America, joined Apr 2000, 2100 posts, RR: 5
Reply 6, posted (5 years 6 months 2 weeks 1 day 16 hours ago) and read 9088 times:

I think Willie is being very pragmatic here. He has to get big concessions from his folks soon and he's not going to get them by saying anything remotely positive. While I think that it's still going to be tough sledding for a while, I do not subscribe to his viewpoint on the industry as a whole. No doubt BA's situation is a little bit more challenging but the "worst yet to come". I think that line was uttered somewhat specific to BA's situation and for the primary purpose of extracting his needed concessions. Not all is gloom and doom; I see sprouts.

User currently offlineStyles9002 From United States of America, joined May 2007, 534 posts, RR: 1
Reply 7, posted (5 years 6 months 2 weeks 1 day 16 hours ago) and read 9063 times:

The Unemployment rate is a very tricky number and most economists agree it is at best very difficult to estimate. For instance, it does not include people who have given up looking for work (discouraged workers) or people who have been cut back to part-time and who want full-time work (underemployed workers). Furthermore, it doesn't take into consideration the people who are no longer permitted to work overtime as well, which is a not insignificant number in America. All this adds up to impact consumption, which is the overriding concern for the GDP.

Whether you are left, middle, or right, this is not a political thing, it is a reality and It is not pretty.



It is what it is.
User currently offlineLTBEWR From United States of America, joined Jan 2004, 13209 posts, RR: 16
Reply 8, posted (5 years 6 months 2 weeks 1 day 16 hours ago) and read 9042 times:

Another issue is that of fuel prices. Already the OPEC and other countries have rasised prices to around $70/bbl. If and when the economy improves, the price of oil will go up to who knows what. That will raise costs and fares with it's effects. Many casual travelers have lost their jobs, facing pay cuts or higher prices for necessities. Many companies are grounding employees from travel, using internet based e-communications as a substitute for short meetings.. For USA-UK travel, the massive collaspe of the financial services industry has killed off a lot of business travel, especially premium services. Some of that travel may be permenant changed.

User currently offlineComorin From United States of America, joined May 2005, 4903 posts, RR: 16
Reply 9, posted (5 years 6 months 2 weeks 1 day 16 hours ago) and read 9017 times:

Quoting ADXMatt (Reply 3):
Too many analysts and media outlets are preaching this gloom and doom and it becomes a self fulfiling prophecy.

Why not preach the good things that are happening and let people feel more secure and less scared they might end up pumping some money into the economy and growing again.

Lets be positive instead of always being scared, gloom and doom. It's all about perception.

Agreed, I like to take a positive view myself. However, we have to err on the side of caution before committing large capital expenditures. We're all waiting to see if and when consumer demand will pick up again.

Quoting Spacecadet (Reply 5):
Except that the number of new unemployment claims have been dropping every week for about the last 2 months. Housing starts are up, manufacturing orders are up. Hell, my company is hiring.

That's good news, and all your points are well taken. To me, when I hear about the eighth largest economy in the world heading to default (California), I feel we have a few more issues to deal with until the sun shines again. But it will shine again....

[Edited 2009-06-17 17:49:00]

User currently offlineCityofAthens From , joined Dec 1969, posts, RR:
Reply 10, posted (5 years 6 months 2 weeks 1 day 16 hours ago) and read 9004 times:

As the article quotes WW, I think the comments need to be viewed in the context of BA rather than the world or US economy, as some have already noted above; to do that, you need to bear in mind that Willie is determined to turn the airline around come hell or high water; things have got to the stage where Willie is asking all staff to consider working for up to 1 month for no pay (see CNN video below).

http://edition.cnn.com/2009/WORLD/eu...k.free/?iref=hpmostpop#cnnSTCVideo

rgds


User currently offlinePhollingsworth From United Kingdom, joined Mar 2004, 825 posts, RR: 5
Reply 11, posted (5 years 6 months 2 weeks 1 day 7 hours ago) and read 8656 times:



Quoting Spacecadet (Reply 5):
Except that the number of new unemployment claims have been dropping every week for about the last 2 months. Housing starts are up, manufacturing orders are up. Hell, my company is hiring.

All of the data points to the recession ending this year. Stuff doesn't *get better* when a recession is getting worse. And the data is getting better. You obviously seem to want it not to so you can prove some political point you have, but unfortunately for you, things are getting better.

Except none of those, especially on their own, are signs that the recessions is actually getting better. Housing starts and manufacturing orders can only be viewed over several months. Furthermore, since there is latency on delivery of each of those entities the best that can be said is that some people think things will get better. Then to add insult to injury things are so bad in the housing sector and some manufacturing sector that you are bound to get improvements even if they do not trickle to the broader economy.

As for new unemployment claims, this is the second derivative of employment. The US government does not publish as many statistics on people taking up new jobs. There are some stats on the number of people for whom their eligibility expires and don't file renewals. These numbers need to be also taken into account. Even the employment numbers (jobs lost/gained in a month) show that we might be reaching the bottom (keep in mind you have to add 100-150k jobs a month in the US just to hold the level of employment steady).

One last thing, the economy could easily start growing this year, but if it doesn't grow fast enough people will still be getting poorer.


User currently offlineLumberton From United States of America, joined Jul 2005, 4708 posts, RR: 20
Reply 12, posted (5 years 6 months 2 weeks 1 day 6 hours ago) and read 8620 times:



Quoting CityofAthens (Reply 10):
As the article quotes WW, I think the comments need to be viewed in the context of BA rather than the world or US economy,

Can't agree with this view. BA will rise or fall as goes the macro-economy. As someone noted, airlines generally lag the economy at large. Walsh is serving notice that things are not going to get better soon. I think he's right.

Walsh's warning applies to most of the industry IMO, not just BA.



"When all is said and done, more will be said than done".
User currently offlineClubWorld1986 From United Kingdom, joined May 2009, 69 posts, RR: 0
Reply 13, posted (5 years 6 months 2 weeks 1 day 6 hours ago) and read 8515 times:

I'm sorry, but does WW have verbal diarrhea or what? it seems like everyday there's a thread on here about the state of his airline/industry... We all know the situation, but do we really need these, what seem like daily doom and gloom updates from him? I'd say you'll be hard pushed to find as many forcasts by other airline CEO's on the website. IMHO.

User currently offlinePellegrine From United States of America, joined Mar 2007, 2495 posts, RR: 8
Reply 14, posted (5 years 6 months 2 weeks 1 day 6 hours ago) and read 8489 times:

IMO, it's bad but not as bad as it seems.

Quoting Lumberton (Thread starter):
IATA's latest numbers are ugly as well; premium travel dropped 22% in April 2009! Look at the comment on revenue.
http://finance.yahoo.com/news/IATA-P...?.v=4

Check this out: http://www.iata.org/NR/rdonlyres/725...502DC9/0/Premium_Monitor_Apr09.pdf

Crucial in that, "This apparent accelerated decline is purely due to the impact of Easter falling in April this year compared to March in 2008. This distortion, as business travel declines substantially during Easter vacation days, will have cut some 5% points from the year-on-year comparison. Growth rates during the previous two months were similarly distorted, in February by the leap year in 2008 and in March by the timing of Easter which had the opposite effect to the impact in April. As a result it is very hard to identify the underlying trend."

IATA goes on to say that we need another month or two of data to see if there has reached a bottom, and I agree with IATA on this. Maybe by September we will see.

Also important to note in that article, air cargo has reached a bottom but it is not growing yet. Maybe this suggests that at least on the trade side, things are not going to get much worse.

And guess what, all of these numbers are going to look terrible until the August 2009 numbers come out. Why? Premium travel fell off the cliff in Sep. 08, and since each month's number is representative of the trailing 12-months, it's gonna take at least that long to see an improvement if we are at the bottom already.

Quoting Lumberton (Thread starter):
If memory serves, IATA projected losses across all global regions at the beginning of the year, with the exception of the U.S. I believe they have backed off on that as well and now project world wide losses.

Every region will have losses, US$9B for the industry.

Quoting Comorin (Reply 1):
3. Phase 2 of the Reign of Terror is yet to hit the Western World - credit card debt, prime mortgage defaults and commercial real estate going belly up.

I think this, what you say here, will have a negative effect on airlines' VFR/vacation traffic. Households are reigning in spending on anything that is non-essential in attempts to pay down debts and remain liquid with adequate cash reserve.

Quoting Ikramerica (Reply 4):
Yep, I think anyone who believes the rosey news reports and the recent stock market "rally" are in for a shock.

There will be a summer equities market correction.

I would encourage everyone to go to http://www.iata.org/whatwedo/economics/ for analysis. IMO news reports aren't that good because they just quote something. Best go to the source, it isn't my secret afterall.  Wink



oh boy!!!
User currently offlineMMEPHX From , joined Dec 1969, posts, RR:
Reply 15, posted (5 years 6 months 2 weeks 1 day 5 hours ago) and read 8332 times:

Maybe we'll see a scaling back in the J class product on airlines like BA? The seats in BA are a class above anything a US airline offers (and there are 1 or 2 good ones out there as well). BA club world is practically the first class of just a few years ago. The trouble is BA needs to charge some real premium prices to cover the cost of all the grandiose product. Many can't justify the cost any longer. Most companies, including many Fortune100 companies I've dealt with have strict policies on staff NOT flying J particularly on flights less than 8 hours and this was during the heady days of the boom. The hedge fund and financiers who did pay the fare have largely stopped traveling and likely to be so for some time, maybe a service change to bring J class fares more into the range of business in todays market is what it will take? This is not charging less for the same product of last year, as that would just be a money loser, but providing a lessor product?

User currently offlineLumberton From United States of America, joined Jul 2005, 4708 posts, RR: 20
Reply 16, posted (5 years 6 months 2 weeks 1 day 4 hours ago) and read 8243 times:



Quoting Pellegrine (Reply 14):
IATA goes on to say that we need another month or two of data to see if there has reached a bottom, and I agree with IATA on this. Maybe by September we will see.

A bottom will be reached at some point for sure!  Wink However, the real question is what shape the recovery will take (V, U, L) and how long will it take for loads/yields to bounce back. As for premium travel, consumption patterns may be irrevocably changed?

Quoting ClubWorld1986 (Reply 13):
I'm sorry, but does WW have verbal diarrhea or what?

Perhaps, but I have to give him credit for showing some leadership on giving up his salary for a month. Is it a stunt? I don't know, but one can't ask employees to give something up without doing the same oneself. Good on ya, Willie!



"When all is said and done, more will be said than done".
User currently offlinePellegrine From United States of America, joined Mar 2007, 2495 posts, RR: 8
Reply 17, posted (5 years 6 months 2 weeks 1 day 4 hours ago) and read 8205 times:



Quoting Lumberton (Reply 16):
A bottom will be reached at some point for sure! Wink However, the real question is what shape the recovery will take (V, U, L) and how long will it take for loads/yields to bounce back. As for premium travel, consumption patterns may be irrevocably changed?

Definitely not V, but if you could stretch out the U so much that the first part looks like the bottom line of a L, i think it will be like that.  Wink

I don't subscribe to this whole "the market is changed FOREVER" hooley-hoooo. Sure it's easy to be over-dramatic when you've lost all your money and it hurts and you say you'll never go back. Wait 'til these people start making money again, i bet they'll start spending like they'd used to. It's human psych and behavior.  Wink



oh boy!!!
User currently offlineBurkhard From Germany, joined Nov 2006, 4409 posts, RR: 2
Reply 18, posted (5 years 6 months 2 weeks 1 day 4 hours ago) and read 8191 times:

He incrises the pressure on his employees every day. Isn't he aware that once he overdoes, the motivation of his crews will deeply fall. Once they are no longer proud to work for BA, that's it. And with such statements this may happen in days.

Instead, he should offer to pay partly in shares instead of money. That would be bad for the share holders, but good for BA.


User currently offlineAirbazar From United States of America, joined Sep 2003, 8668 posts, RR: 10
Reply 19, posted (5 years 6 months 2 weeks 1 day 4 hours ago) and read 8135 times:



Quoting ADXMatt (Reply 3):
ets be positive instead of always being scared, gloom and doom. It's all about perception.

Agree 100%.

Quoting Ikramerica (Reply 4):

Yep, I think anyone who believes the rosey news reports and the recent stock market "rally" are in for a shock.

My 401K was down 40% when Bush left and is up 50% since Obama became president. That's not politicaly driven rosey news. That's true hard facts that make me feel good about the economy and my financial future, and it has led me to take 3 leisure trips this year already (and it's only June), as opposed to only 1 last year.
As for the topic at hand, people need to keep in mind that the European economy always trails behind the US economy. I do agree that 2009 will be worse than 2008 in Europe but I think in the US, 2009 will be better than 2008. You just have to go back to last Summer when Europeans were traveling like crazy to take advantage of the strong Euro while Americans were staying at home and cutting back.


User currently offlineBabybus From , joined Dec 1969, posts, RR:
Reply 20, posted (5 years 6 months 2 weeks 1 day 3 hours ago) and read 7998 times:



Quoting ClubWorld1986 (Reply 13):
We all know the situation, but do we really need these, what seem like daily doom and gloom updates from him? I'd say you'll be hard pushed to find as many forcasts by other airline CEO's on the website. IMHO.

That's right. What is this guy up to? He is supposed to be talking things up, not down. He will have many people thinking BA is going bust which is not good for ticket sales or the share price.

He is supposed to look actively in control of the company and not frailing around to the fancies of luck or fortune.


User currently offlineCityofAthens From , joined Dec 1969, posts, RR:
Reply 21, posted (5 years 6 months 2 weeks 1 day 2 hours ago) and read 7794 times:



Quoting Babybus (Reply 20):
He is supposed to be talking things up, not down.

WW is determined to not only turn the airline around in terms of making money again, but to once and for all do what no other management team in the history of BA has done before - permanently change the way we work - that means in terms of pay, productivity and flexibility - things which are, for obvious reasons, close to many people's hearts.

In order to acheive that, he has to browbeat the unions into agreement (something it appears he has managed to do with the pilot community ... the BALPA union have recommended members vote in favour of the proposals they have put forward with the company).

It's a balancing act of a sort perhaps - he needs to convince staff that the company is in serious difficulties, and his solution is the ONLY solution; on the other hand, he has to consider the negative effect that his daily warnings will have on staff morale (currently not very high in any case), and just as importantly, on the general public's perception of whether booking a ticket with BA over the next couple of months entails a serious risk ... either due to industrial action (I hope not) or even worse, the company going out of business (God forbid).

I think it's fair to say most BA staff understand the gravity of the situation; but questions linger ... will the sacrifices made become permanent? (possibility, and the CEO has said that is what we need); is the company about to go under anyway? Do we get anything in return for these concessions? Are airline shares likely to replace any salary given up now (history suggests the answer is : unlikely)..., etc.

I think the problem for the company in asking its staff to help out, is that some staff (especially those on the front-line, and near the bottom of the hierarchy) don't feel particularly valued and very much taken for granted, despite still being proud of working for BA. Once the company tackles its immediate problems, it needs to start looking at changing this perception (not easy for such a monster of a company, I know); but there are some inspiring examples out there - Southwest, perhaps? Continental?


User currently offlineBlackwidow From United Kingdom, joined Feb 2008, 95 posts, RR: 0
Reply 22, posted (5 years 6 months 2 weeks 1 day 1 hour ago) and read 7220 times:



Quoting CityofAthens (Reply 21):

 bigthumbsup 


User currently onlineLAXdude1023 From India, joined Sep 2006, 7823 posts, RR: 25
Reply 23, posted (5 years 6 months 2 weeks 1 day 1 hour ago) and read 7119 times:



Quoting Spacecadet (Reply 5):

Except that the number of new unemployment claims have been dropping every week for about the last 2 months. Housing starts are up, manufacturing orders are up. Hell, my company is hiring.

All of the data points to the recession ending this year. Stuff doesn't *get better* when a recession is getting worse. And the data is getting better. You obviously seem to want it not to so you can prove some political point you have, but unfortunately for you, things are getting better.

Absolutely agreed. It seems that at least in the states the worst of the economy has hit bottom and is leveling out. All signs seem to point toward the end of the recession by the beginning of next year. Unemployment claims are falling, more companies are hiring, and the number of people buying houses is slowly climbing. Those are all good signs.

Granted the economy is better some places than others. For example, I live in Los Angeles, California. About 2 months ago I was told that my position here was going to be eliminated because of the operating costs. I was bummed until my employer told me that I could actually have a promotion if I was willing to move to Dallas, TX. Ironically , the office out there never fell on hard times through this chunk of the recession. Naturally I accepted and Ill be moving out there. So even within the States, the economy in Texas never had it as bad as the one in California.

I also think this may be Willie Walsh's way of drumming up support for ATI, or for some help. If he makes things seem really dire, he might actually be saying "give us ATI this time around or where done for". Its obviously not true, but it could be a PR thing.



Stewed...Lewd...Crude...Irreverent...Belligerent
User currently offlineVV701 From United Kingdom, joined Aug 2005, 7743 posts, RR: 17
Reply 24, posted (5 years 6 months 2 weeks 1 day 1 hour ago) and read 6934 times:



Quoting CityofAthens (Reply 21):

Excellent post!

The biggest problem is that Walsh is on a tightrope. In these circumstances falling off that tightrope is easier than staying on it. So all the possible impacts of every statement that he makes, every action he takes, have to be considered carefully.

The end game will be the oucome. If Walsh gets it right the rewards for him, his mangement team, BA investors and all BA staff and customers will be significant, but his will be the highest. If he gets it wrong he will lose his job and become unemployable in the airline business. Hopefully BA investors and all BA staff and customers will not suffer a similar fate.

It is a high stakes game. Let's hope he does get it right.

As to those who ask why Walsh is quoted so frequently these days, the answer is not too complicated. The airline industry is facing problems worldwide that are probably only matched by the banking and automobile manufacturing industries. So there is a lot of UK media focus on Britain's largest airline and what its CEO is doing or saying. When times are good I doubt if he makes fewer statements or completes less actions. But then the media is relatively disinterested.


25 JAL : I know things are tough right now, but Walsh and BA are not helping by being so overly pessimistic! Try to cheer up!
26 EA772LR : Absolutely I remember part of the 'selling' the current administration did to make Americans feel better about the $787,000,000,000.00 stimulus was t
27 ItalianFlyer : The sad thing is...what you just described applies to the majority of the industry; legacy and LCC alike. There is an unwritten rule that part of you
28 BEG2IAH : What makes you think that's the only "weapon" monetary policy has? There's a lot more it can do, but those tools don't give you policy expectations a
29 ItalianFlyer : But to the OT...i fear Willie is right about his assessment...given the revenue weakness of April and May, the start of the industries 'high' season,
30 Mutu : But surely he is right? Hasnt the aviation world fundalmentally changed......by that I mean when the gloom is over and bums are back on premium seats
31 AirNZ : Why is "he supposed to be talking things up......"? As CEO he is obligated to talk on reality, not necessarily what various people want to hear. Woul
32 Par13del : Other than trying to ride out the storm, what is BA doing to adopt to the situation? BA numbers went through the roof based on their product model, ca
33 EA772LR : Sure but since this thread isn't about all of the possible calamities we can expect in America if hyperinflation sets in (which I don't see how it ca
34 BP1 : Is BA looking at cutting service to any cities in the USA to cut costs? BP1
35 Par13del : Oil was dropping but somehow someway its on the rise again and demand has not yet fully picked up, artificial? If your scenario holds, it is possible
36 AirNZ : Ah right! perfectly understand now. Cheers! Yes, but the very often-forgotten 'fact' is that while margins per passenger are much smaller, multip[le
37 Ken777 : I think WW has a very clear of how advanced bookings are looking, especially for summer. Summer and fall bookings, especially when compared to previou
38 Yellowtail : Well said. 100% agree. Having just come back from PHX and IAH...I can tell you the difference in economic feel of both cities was stark. PHX felt dea
39 Par13del : I have no doubt that is the case, but in every dark cloud there is a silver lining. Yes the pax have been alienated, but offer them a choice of trave
40 AirNZ : I agree in principle with most of comments there but would quite avidly dispute that one. Firstly, I can quite assure you that an extremely substanti
41 VikingA346 : I think for the most part you will see ad-hoc cancellations throughout the fall/winter season. I know EWR will reduce its 6x weekly 767 for a few mon
42 Brons2 : I prefer to view it in metrics such as, the amount of days that the homes for sale in my neighborhood have been on the market. In the US, this recess
43 CIDFlyer : and I am glad I am not the only one who sees it this way. Yes, things aren't great, but the media in their frenzied race to bring you the story first
44 VV701 : Yes. The only change I would consider to this statement is to add the word "legally": "As CEO he is legally obligated . . ." According to Aviation Ne
45 ClubWorld1986 : I very much doubt it'll be cancelled. Defering a refit to FIRST would be a good thing for BA in my opinion, they're not taking delivery of what will
46 Mrocktor : And he didn't even mention the pseudo-science based environmentalist regulation we are certain to get in ever increasing amounts.
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