THE TIPSTER December 14, 2009 NEWS that British Airways’ cabin crew has voted in favour of strike action, combined with the state of the airline’s pension scheme has put further downward pressure on the airline’s share price. On a technical level, shares are currently blocked from any further progress by a resistance line in place on the daily chart since [...]
BA PENSIONS CHIEF IS URGED TO RESIGN November 16, 2009 THE row over British Airways’ retirement scheme intensified yesterday as an independent group of pensioners called for the urgent removal of Roger Maynard as chairman of the trustees. Anger is building over the perceived conflict of interests in Maynard’s chairmanship of both BA’s pension funds – whose huge deficits are potential stumbling blocks in its [...]
BA crew talk about strikes November 1, 2009 THOUSANDS of British Airways’ (BA) cabin crew are meeting at racecourse Sandown park this morning to discuss a winter walkout at the airline. The meeting comes ahead of BA’s financial results for the summer season, which analysts are expecting to be catastrophic, as the downturn pummels airlines. The ailing carrier, led by chief executive Willie [...]
THE TIPSTER December 7, 2009 GOLD bugs will have been disappointed with the sharp correction in the precious metal as it was unable to sustain its record highs above $1,200 an ounce. But for now gold seems to have found some support around the 23.60 per cent retracement when drawn from the April low so this could present a good [...]
BApensions boss faces critical week November 15, 2009 ROGER Maynard, chairman of the British Airways pension scheme and director of Spanish airline Iberia, has ducked out of key Iberia board meetings to avoid a conflict of interests. Maynard has steered clear of corporate discussions of Iberia’s planned £4.4bn merger with BA. However he is understood to have been closely involved in other aspects [...]
BA AND IBERIA SEAL MERGER November 12, 2009 BRITISH Airways last night sealed a £4bn merger deal with Spanish carrier Iberia to create an aviation giant. The two loss-making companies said they had reached a preliminary agreement for the tie-up that will see BA shareholders take 55 per cent of the combined group, with Iberia holding the remaining 45 per cent. BA chief [...]
Strike threat still on at BA as court date pushed to next year November 5, 2009 BRITISH AIRWAYS’ (BA) staff will still be balloted on strike action over the Christmas period, despite the union’s legal challenge to new contracts being delayed. The Unite union had requested a High Court injunction to block new working patterns, which BA is enforcing as it seeks desperately to cut costs at the airline, but the [...]
Q & A : WHERE HAVE THE STRIKE THREATS COME FROM? October 7, 2009 Q. WHAT ARE THE UNIONS OPPOSING?A. On Tuesday, British Airways announced it was cutting 1,700 jobs and was introducing a two-year pay freeze for cabin crew as it looks to cut costs in the downturn. It also said it would recruit new staff on different terms and conditions to current employees. Unite has denounced the [...]
Deutsche cuts BA rating after doubts over American tie-up October 26, 2009 AILING airline British Airways (BA)was dealt a further blow yesterday, after Deutsche Bank cut its rating for the airline from “sell” to “hold” ahead of its second-quarter results. “We believe that the main positive catalysts for the stock – the merger with Iberia and anti-trust immunity with American – are at risk,” said Deutsche’s Geoff [...]
THE TIPSTER November 30, 2009 PUB company Mitchells & Butlers posted a solid set of full-year results last week, which has been followed by potential mergers and acquisitions (M&A) activity as a group of major shareholders attempt to wrest control of the board. It is still early days, but with last week’s results underpinning the share price, it is clear [...]