Go Back  FlyerTalk Forums > Miles&Points > Airlines and Mileage Programs > British Airways | Executive Club
Reload this Page >

Taking credit risk on BA: should we be worried?

Taking credit risk on BA: should we be worried?

Old Mar 14, 20, 11:44 am
  #1  
Original Poster
 
Join Date: Mar 2017
Programs: BA GGL, CCR, Hilton Diamond, Hyatt Globalist, Marriott Titanium Elite
Posts: 330
Taking credit risk on BA: should we be worried?

I have approx £17,000 in evouchers from BA. If you can attribute any value to them, I also have GfL status, two companion vouchers, 3,000,000 Avios, a GUF2 and four GUF1.

I canít be the only one, and many people will have much more.

These are, of course, first world problems of the highest order. And it seems churlish to even discuss them whilst lives and livelihoods are under threat. But the thought is now occurring to me: will BA be good for all the cash they owe their customers?
HFHFFlyer is offline  
Old Mar 14, 20, 11:49 am
  #2  
 
Join Date: Sep 2018
Posts: 58
Originally Posted by HFHFFlyer View Post
I have approx £17,000 in evouchers from BA. If you can attribute any value to them, I also have GfL status, two companion vouchers, 3,000,000 Avios, a GUF2 and four GUF1.

I canít be the only one, and many people will have much more.

These are, of course, first world problems of the highest order. And it seems churlish to even discuss them whilst lives and livelihoods are under threat. But the thought is now occurring to me: will BA be good for all the cash they owe their customers?
Whilst my "holdings" are of many magnitudes lower than yours, I splurged almost all my Avios and a 2-4-1 on Thursday, for just this reason! I have another 2-4-1 but few Avios to exploit it; ordinarily I would have topped up in the Avios sale, but chose not to on this occasion.

Whether or not we ultimately get to take the flights is another matter...
Haagen Daz is offline  
Old Mar 14, 20, 11:56 am
  #3  
Suspended
 
Join Date: Dec 2019
Posts: 629
I'm about to order a lot of wine with my Avios need something to cheer me up lol
Hawk777 is offline  
Old Mar 14, 20, 11:58 am
  #4  
 
Join Date: Jun 2008
Programs: Various memberships
Posts: 517
I think if IAG goes down then we will be in something akin to a 1930's style depression.

Whilst I don't think for 1 second the group is "too big to fail" I suspect goverment action across Europe and the US would be taken to support major carriers if things got that bad. There is no way that the EU or US would be happy for "state backed" carriers from places like the Middle East and China to be the only ones still flying.

I would certainly be happier to hold BA E-vouchers than in a lot of other carriers. But I also agree that our first priority should be for those people that will loose their lives due to this virus as well as those who lose their jobs.
KeaneJohn likes this.
TheEngineer is offline  
Old Mar 14, 20, 11:59 am
  #5  
FlyerTalk Evangelist
 
Join Date: Aug 2002
Location: London
Programs: Mucci. Nothing else matters.
Posts: 37,121
Originally Posted by HFHFFlyer View Post
These are, of course, first world problems of the highest order. And it seems churlish to even discuss them whilst lives and livelihoods are under threat.
I agree with both of these sentiments.
AdBoy, sammy..uk, argonath and 1 others like this.
Globaliser is offline  
Old Mar 14, 20, 3:35 pm
  #6  
 
Join Date: Feb 2011
Posts: 173
I am such a lower tier of BA ness (pardon my made up Englishness) it doesnt compare to your situation, but I have been saving Avios, buying subscriptions to the Economist through my company etc for years to get the flights for the 225 family and so would share the pain.

If things things got that bad where BA went bust or in effect became state owned I think we would all have many more things to worry about than loss of Avios and upgrades.

​Still I would at least have copies of the economist and Irish times to while away the hours...
sentosa and HFHFFlyer like this.
225SG is offline  
Old Mar 14, 20, 3:49 pm
  #7  
 
Join Date: Jun 2008
Location: GLA
Programs: BA Silver
Posts: 2,101
Iíd expect a state aid waiver from the EU and the government to act before any of the major carriers came close to going under (which is not to say that Avios wonít be devalued, etc.).
Scots_Al is offline  
Old Mar 14, 20, 3:53 pm
  #8  
 
Join Date: Jul 2018
Posts: 660
Originally Posted by HFHFFlyer View Post
I have approx £17,000 in evouchers from BA. If you can attribute any value to them, I also have GfL status, two companion vouchers, 3,000,000 Avios, a GUF2 and four GUF1.

I canít be the only one, and many people will have much more.

These are, of course, first world problems of the highest order. And it seems churlish to even discuss them whilst lives and livelihoods are under threat. But the thought is now occurring to me: will BA be good for all the cash they owe their customers?
If you bought the tickets that resulted in you getting the evouchers on a credit card, would you not be able to reclaim the money from the credit card company if BA were to go bust?
cauchy is offline  
Old Mar 14, 20, 3:54 pm
  #9  
 
Join Date: May 2016
Location: EDI
Programs: BA Gold (GGL/CCR)
Posts: 532
Originally Posted by Hawk777 View Post
I'm about to order a lot of wine with my Avios need something to cheer me up lol
I must have lived under a rock, as I didn't realise I could buy wine with Avios Thank you for the heads-up, I've just splurged some of my 1.25M Avios.
HighwayToHEL is offline  
Old Mar 14, 20, 4:15 pm
  #10  
Suspended
 
Join Date: Dec 2019
Posts: 629
Originally Posted by HighwayToHEL View Post
I must have lived under a rock, as I didn't realise I could buy wine with Avios Thank you for the heads-up, I've just splurged some of my 1.25M Avios.
never a great way in terms of value but with that many I don't blame you!
Xoomer likes this.
Hawk777 is offline  
Old Mar 14, 20, 4:17 pm
  #11  
 
Join Date: Jun 2016
Location: Surrey
Programs: BA Gold, VS Gold, TAP Gold, Eurostar CB, IHG Spire, Hilton Diamond, Bonvoy Platinum, Hertz 5*
Posts: 358
Originally Posted by HFHFFlyer View Post
I have approx £17,000 in evouchers from BA.
squawk likes this.
s1362083 is offline  
Old Mar 14, 20, 7:09 pm
  #12  
 
Join Date: Dec 2003
Location: Charlottesville, Va. USA
Posts: 1,570
It's hard to believe you are discussing a ba/iag failure. Really?
jmj9905 is offline  
Old Mar 14, 20, 7:13 pm
  #13  
 
Join Date: Jan 2016
Location: LHR/ATH
Programs: Amex Platinum, LH FTL (Silver)
Posts: 4,116
Yes if you want to play it safe burn your Avios if you can, there will be a lot of cost cutting and Avios devaluation to come I feel, if you think Cruz was being stingy before you just wait now!

i donít think BAís future at risk; there for sure will be a bailout if things got that bad.

this is a temporary shock, in fact China is getting back to work!
James91 likes this.
ahmetdouas is online now  
Old Mar 15, 20, 12:29 am
  #14  
 
Join Date: Feb 2017
Location: London
Programs: BAEC Gold, Marriott Titanium
Posts: 708
Originally Posted by jmj9905 View Post
It's hard to believe you are discussing a ba/iag failure. Really?
Discussions like these send a strong hint that itís time to buy IAG shares
Duck1981 is offline  
Old Mar 15, 20, 12:52 am
  #15  
 
Join Date: Apr 2007
Location: UK/Australia
Programs: BAEC Gold, UA2MM, WY Gold, QF Gold
Posts: 2,115
Originally Posted by Duck1981 View Post
Discussions like these send a strong hint that itís time to buy IAG shares
Perhaps in a month's time...
Grace B is offline  

Thread Tools
Search this Thread
Search Engine: