Reply To: BA Cabin Crew Strike – Consolidated ThreadBack to Forum
VK, don’t forget that the hefty cash position is not the result of years of profit not distributed. It is customers paying in advance for flights they have yet to take. If you took those pre-payments out the cash balance would look very bad indeed. It is a little bit like using “clients” money for day to day trading. Not to be recommended.
If you remember, when Northern Rock crashed, Sir Richard asked Lloyds how safe they were, and said that he wanted to move his airline cash balance to another bank. He pointed out that it was not his money, nor his company’s money but his customers’ money that they had entrusted to the airline. Same with BAs hefty cash pile.