By Tom Winnifrith | Friday 1 May 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
British Airways currently empliys 4,346 captains and pilots. By Christmas it will have fired more than a quarter of them. And there will be no generous payoffs, just the bare minimum statutory notice period. The Airline says in a letter to the pilots union that if it does not act this way it will threaten its very future. The language is stark and a reminder that anyone predicting a V shaped economic recovery is dreaming.