Flights may be rammed, but....

Decades ago, a politician told me that his election agent only put out four chairs at his first hustings. Why, he asked. The reply: So as I can tell the press the meeting was so popular we had to put out extra seats!

BA scrapped all their 747s. T5 is filled with other airlines' aircraft - Iberia, AA and Qatar. BA out of T3 for a while. So BA not really that busy! Although what flights there are are rammed.

Same with the schedule cuts. What flights are left are rammed. But BA is a shell of its former self. So share price is a shell of its former self.

That's the emotional level. As Raffle says, on a financial level there are also good reasons why the share price is a shell of its former self.