Costs of strike fear BA Eclipse £ 5. 7bn Iberia merger

A few hours after that investors BA voted more 99pc actions in favour of the agreement, the Union Unite accused company UK "a vicious war against its workforce" and said that he would be Bulletin 11 000 crew further industrial action. BA, which suffered the strike of 22 days this year, costs £ 150 m carrier attacked "dysfunctional" union for breaking his promise to its most recent offer members the company aimed at breaking the deadlock.

The current dispute high at its head several times to the thin shareholder attended meeting in London, which has approved the creation of a European airline with almost £ billion annual turnover .the ' agreement was also given the nod by investors of the Iberian Peninsula.

International Airlines Group (AIG), which will be executed by BA Executive Willie Walsh, will employ more than 57,400 staff and have a combined fleet of 406, carrying passengers 57.5 m per year.

A registered holding company Madrid - Consolidated International air transport group - sitting above AIG, the owner of London-based corporations operating BA and Iberia. They retain their trademarks, national identities and the rights of flights.

Martin Broughton, President of the BA, dismissed concerns should not push through a merger that the cabin crew line remained non-solved. "This dispute is a BA problem entirely. "It is not affected by the merger", he said.

Despite the THUMP of support for the agreement - which will see AIG Travel Fellowship from January 24 - BA BA Chairman had various Kiriat with 80 shareholders or such is the case of the meeting.

The observation of a BA did not compete with low-cost carriers quoting a tariff easyJet for £ 103 versus £ 168 BA, Mr. Broughton broken: "Enjoy your flight."

Another investor cited fears about the economy of the Spain asking: "is this the right time for a merger with Spanish airline"?"Yes", was a response of Mr. Broughton Word.

Private investor John Farmer has accused the Council "tactical" error accepting an organizational structure which meant investors meetings AIG all them be held now in Madrid.

Dr. Broughton said that without these concessions, Iberia would have classified the case of a takeover and that it has required a "premium", leaving investors BA with less of the merged group 56pc. ""It is better to have operational headquarters in the residence of the United Kingdom and the tax in Spain vice versa", added Mr. Broughton.

A sole shareholder said Chauvin permutation "lucrative" BA transatlantic routes for the "non-profit" of Iberia in Latin America is a poor business. ""In Latin America, if they do not want the race driver to win, they shoot him .c ' is always the same", he said.

Outside the meeting, Mr. Walsh said initial focus would be on the realization of the first year €72 m (£ 60 m) synergies towards a target of 400 m € per annum cinq.Il reiterated plans use AIG to acquire more airlines.

"He also criticized Secretary General-joint unit Tony Woodley, saying that he was"shaken hands on an agreement"but failed to deliver.""Unite appear tear themselves," he said. "What I said about the nature of dysfunction of the union is played in public.?

BA 10.7 percent 261.2 dragged shares.


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