-
-
Re: British Airways to sack 25% of its pilots!
https://www.zerohedge.com/markets/ov...last-six-weeks
In the last six weeks, far more Americans have filed for unemployment than jobs gained during the last decade since the end of the Great Recession... (22.13 million gained in a decade, 30.3 million lost in 6 weeks)
...
We have lost 434 jobs for every confirmed US death from COVID-19 (60,999).
Be kinder than necessary because everyone you meet is fighting some kind of battle. -
Re: British Airways to sack 25% of its pilots!
Mega's thoughts:- They were about to go bust, the Virus is "Helpful" for them.
I love the way they are laying out terms......in a nut shell "We F*cked up & pissed your money away.......now we want to F*ck up & piss your money away again".Comment
-
Re: British Airways to sack 25% of its pilots!
Norwegian...just another low cost carrier with too much capacity (like the whole industry) and too expensive a corporate structure to be "low cost".
Subsidiaries in Dublin, UK, Sweden, a separate Norwegian long haul entity and, formerly, also operating in Argentina (bet that was fun).
There was too much capacity to begin with. And there's way too much now.
Wiping out the shareholders is the correct thing to do. Bondholders next. Lessors own the aircraft. In a market with a massive glut of modern, used aircraft, as we have now, they may offer forebearance, or they may decide they can redeploy or liquidate the assets - will depend on the type of planes and how they perceive the market recovers. No matter what, as in so many other sectors of our economies, the capital destruction in aviation is going to be epic.
Interestingly, the used executive jet market is red hot right now. With airlines grounded, corporations and jet charter outfits are positioning to fill the gap and cannot keep up.Comment
-
Re: British Airways to sack 25% of its pilots!
How is your brother?
Is he going to be ok given the Bloody bath we having....Comment
For a concise, readable summary of iTulip concepts developed over the past 16 years and a vision of a challenging next decade and how to navigate it, read Eric Janszen's book "Post Catastrophe Economy".
Join the discussion of today's events with a wide range of professionals with an interest in economics and finance. Register to join our 50,000 plus member registered community from 78 countries today.
Subscribe to iTulip Select for access to the longest running, deep, accurate, and unvarnished macro economic trends analysis and forecasting available, since 1998.
- If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.
Working...
Tweet
Comment