HM Treasury also offered cash to HSBC, Barclays, RBS, Lloyds TSB and Standard Chartered in 08/09. HSBC, Standard Chartered and Barclays did not accept any.

Barclays ran off to the Qataris and accepted a pile of money which we have to be quite clear was NOT accepted illegally - https://www.theguardian.com/business...uilty-of-fraud

Anyone see any parallels here?!

that was then.
The systemic US bank bailouts we’re not optional- and look how that worked vs. U.K. Hint - better than the RBS mess we still have. Stronger ones like Chase were limited by us government involvement from splurging cash bonuses while government funded the weaker that actually needed it. The reported Cruz non pay cut doesn’t help BA if this repeats.)
perhaps that is not lost on HM Treasury this time round?

So just how does UK-Gov support BA only with IAG setup, and not support IBeria part, the Spain gov needs cough up to support IB not uk-gov. Neither would I want the BA managment Director/board level to benefit from share prices/options during the period uk-gov inject funds

Plus didn't BA issue a shareholder dividend notice to be paid 1st June. that needs to be reined back or even cancelled.

I am already disgusted that BA-Pilots are on a 50% salary, whilst WW gives up a lousy 20% with no mention of BA board eh Cruz taking a salary hit. Plus don't most Pilots/Crew etc only receive a low base salary topped up by further "in the air" on duty income, which means any cabincrew salary will be substantially reduced with zero BA flights, even before a reduction in their base (guaranteed) salary. Something that won't affect the non flying highly paid BA management and board.

Even if BA has a substantial cash pile as rumoured, the conjecture(?) I read the last few days suggests BA are burning through GBP50m/day so a billion every 20days. So say 2months = 60days would be gbp3 Billion , ie a years profit etc.

It has been announced a few days ago that Cruz is taking no salary for the next two months.

For the large pan European airline groups support should be provided on a pan European basis.
Whether that's through the likes of IAG giving the British, Spanish and Irish governments a golden share in exchange for a long term repayable government bond or something similar I don't know.

Mark Kleinman (Sky News City) has updated on his twitter feed that “The chancellor has written to UK airlines and airports to say that while government remains determined to help viable companies through the COVID-19 crisis, direct taxpayer investment will only be considered once existing investors and other commercial options explored.“

That is a nice theoretical idea, but I doubt that it will ever fly because of the opposition of some countries and because of the practical implementation details. It would take months/years for EU to set up the budget.

Sounds like the politicians are learning. :tu:

Roughly a 16% cut.

The optics don't look great when others earning a lot less are however taking a greater cut.

Anyway - interesting comments from. The Government RE support to the airlines. Alternative support short of bailouts are however there too, in the meantime.
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Optics look awful when other CEOs taking 50pct or larger cuts. It’s like the man or his advisors never learn. That in itself, generically, makes you question if that person has what it really takes to be both a good CEO AND be perceived to be one.

Government learning though - especially for Virgin and it tax haven based investor and US backer. Perhaps better to leave BA etc to pick over what’s left of Virgin instead?

You’re not comparing apples with apples - the pilots is 50% over two months, i.e. a total of 1 month over the year. AC is 100% down for two months. Willie is 20% down for the remainder of his tenure.

Please get the facts right. Alex is taking 2 months unpaid work. Pilots are getting 1 month unpaid leave spread across 2 months, with the deduction spread over several months. All BA managers have been asked (more like instructed) to take at least 4 weeks unpaid leave or unpaid work. While Alex isn't a favourite with many, please stop trying to use this to bash him.

Interesting - and, I think, sensible - opinion piece in the Guardian arguing against a bail-out for the airlines.

The UK airline industry should first ask their own shareholders for bailouts

Well the answer is, they don't and won't (until arguably it is too late)

BBC News - Coronavirus: No extra help for airlines, chancellor says

https://www.bbc.co.uk/news/business-52027342