British Airways Pilots Association Accept Government’s Deal
The British Airways Pilots Association announced that they’d accepted a deal with the United Kingdom Government. This deal will have 270 Pilots terminated from their positions effective immediately, with the remaining workforce losing 20% of their yearly salary for two years. This deal was forced onto the BLPA to prevent the controversial “Fire & Rehire Strategy”, which have come multiple times for pilots working under the British Airways banner.
BLPA Personnel clarified that salary reductions would be increased to 8% by 2020, with this formalized deal seeing an overwhelming majority in agreement. Voting for this agreement saw a turnout of 87%, where 85% voted in agreeance. It’s the highest percentage of voting seen in the BLPA since 9/11 in 2001.
The General Secretary for the British Airways Pilots Association, Brian Strutton, made a formal statement on the negotiations reaching an agreement. He’d remark that pilots made their pragmatic decision with unforeseen circumstances changing the industry tenfold. Brian Strutton did mention his disappointment with losing the fight on salary reductions, hoping to face zero redundancies. The General Secretary recognized that without the salary reductions, British Airways would lose ever more significant funds than the billions already having been lost.
It’s anticipated that British Airways will make 12,000 employed personnel redundant until 2023, working towards ensuring monetary survival during the COVID-19 pandemic. It’s known that 1255 British Airways Pilots are now subjugated to losing their jobs in the coming weeks. BLPA Personnel also remarked that additional redundancies would also follow for another 270 Jobs that aren’t classified as pilots but are still under their union, with this most likely regarding airline attendants.
Financial Losses
Disruption for international airlines following the COVID-19 has been worse than 9/11 or the Volcanic Explosion at Mount Helens. It’s known that $84 Billion will be lost for British Airways during the 2020 Fiscal Year. That valuation is considering higher for the International Air Transport Association, who have clarified that $419 Billion will be lost industry full. This marks the most prominent losses in aviation history. British Airways have promised their investors that profits will return to reasonable valuations by 2023. However, financial analysts know this is impossible to obtain. The aviation industry will likely struggle to reobtain former earnings for the next decade.