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Old Sep 9, 2020, 11:04 am
  #15  
13901
 
Join Date: May 2014
Posts: 7,237
4 out of 12 = 30% of the fleet. If it's true, then it's in line with the general trend we've seen in the industry in terms of cuts, both of fleets and - sadly - of people.

This is quite significant, however. Unlike the 744s and 346, which BA and IB had almost completely paid for (but still yielded a euro 750m write off in the last Quarter financials) the 380s are far from being depreciated. I think the accounting value of one of those birds is in the region of a 100/150m, so we're looking at quite a significant write-off.

Also, it's worth remembering that this time last year BA/IAG were working on approving the refurbishment of all 380s with the new Club Suite, an investment of billions. If this is true and 30% of the fleet are to be scrapped, then it's again proof of how big this crisis is for the industry. BA was one of the few, if not the only, airline in Europe capable of making the 380s make money.
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