IAG profits soar

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This topic contains 13 replies, has 11 voices, and was last updated by  KarlMarx 3 Aug 2015
at 04:33
.

Viewing 14 posts - 1 through 14 (of 14 total)

  • Anonymous

    MrMichael
    Participant

    Looks like Willie Walsh is getting it bang on, what a brilliant chap he is.

    http://www.bbc.co.uk/news/business-33729695

    Now I sit back and wait for the fireworks……….


    AnthonyDunn
    Participant

    @ MrMichael – 31/07/2015 07:59 BST

    As you may recall, I am not exactly a leading member of the WW fan-club. IAG is clearly reaping the rewards of being faster in cutting almost everyone’s salaries – with the notable exception of the BigMan himself (“don’t do as I do, just do as I say…!”) – than have been most other non-Chapter 11/European legacy carriers. This latest improvement in results, apparently, owes itself to the drop in fuel prices whilst fares have hardly budged; windfall gains.

    What actually beggars belief is that one WW, having slagged off the UK for its alleged lack of a civil aviation policy – evidenced by its failure to increase runway capacity in London and the South-East since the end of WW2 – now has the effrontery to criticise building a third runway at LHR (!). He cites the costs of this as being excessive. So what would you have the UK do then Willie?

    This man has some brass neck.


    transtraxman
    Participant

    In my view he has almost got his third runway available…at Dublin.
    Therefore, he would be loath to accept more competition at LHR which is what a third runway would mean.


    sparkyflyer
    Participant

    + 1 Anthony Dunn & transtraxman. See my comment here at the bottom of the BT news article:-

    http://www.businesstraveller.com/news/101921/willie-walsh-slams-too-expensive-heathrow-expan


    Tallinnman
    Participant

    @ad

    Of course he wants another runway, just doesn’t want to pay for it from his future bonuses or have any competing airlines use it!


    MrMichael
    Participant

    AnthonyDunn, your right about the staff and costs, I think exchange rates have been kind to IAG too.


    sparkyflyer
    Participant

    To save clicking on the link this is what I said..

    “Walsh simply does not want more competition that having more slots available for other airlines would give, it would change their business plan. He wants IAG hubs in Madrid, Dublin and arguably Doha to be the 3rd runways. He is saying this for purely anti-competitive reasons”.


    Kimi_CDG
    Participant

    I agree with sparkflyer and transtraxman. No need to pay for a 3rd runaway when you can use your new friends’.

    Is it not what happened in France at the end of the previous century? There has been plans to build a 3rd airport near Paris to accomodate the traffic growth.
    They were all dropped after the AF/KLM merger in 2004. Some of AF long-haul routes were axed and passengers now have to fly via Shipol.


    Ah,Mr.Bond
    Participant

    All major airlines have been jumping on the bandwagon of announcing major profit rises.
    It is purely down to the cost of fuel now, the mega saving of which are rarely passed down to the passenger.
    It has little to do with anything else


    Stowage222
    Participant

    Yet still BA’s Keith Williams is moaning about ‘legacy costs’ which WILL be tackled. More staff cost cuts ahead I fear.


    openfly
    Participant

    @AhMrBond In BAs case they cannot possibly use lower fuel costs for their improved profits. After all, we have been told by BA that they fwd bought their fuel and can’t possibly reduce or get rid of the fuel surcharge….!! Cynical..me??!!


    BigDog.
    Participant

    I agree with most of the comments. It is an outrageous travesty that when companies benefit from windfalls the execs take a sizable bonus yet the execs are financially protected when converse external factors adversely impact performance.


    KarlMarx
    Participant

    Stowage222 – 01/08/2015 08:38 BST

    It appears the cost cutting is starting with LGW cabin managers and pursers, with salary reductions claimed to be up to £10,000 for some senior crew and some head count reduction.

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