Walsh Pone a Sus 'Chicos De Confianza' a Pilotar Iberia En Tiempo Récord

Total Page:16

File Type:pdf, Size:1020Kb

Walsh Pone a Sus 'Chicos De Confianza' a Pilotar Iberia En Tiempo Récord Walsh pone a sus 'chicos de confianza' a pilotar Iberia en tiempo récord Miguel Ángel Gavira | 16/09/2013 El consejero delegado de IAG, Willie Walsh, ha logrado en tiempo récord colocar en puestos clave de la compañía a gente de su confianza, mientras que los consejeros y directivos que provenían de Iberia han ido cayendo paulatinamente. En menos de tres años, el ex comandante de avión irlandés ha logrado situar a media docena de delfines en primera línea de batalla al tiempo que ha visto como han caído una decena de potenciales enemigos en el holding nacido tras la fusión de Iberia y British Airways. Bien es cierto que la salida de Bankia, primer accionista de IAG, del accionariado de la compañía, ha sido también la causante de parte de esta reestructuración, pero ha habido movimientos que rompen claramente el espíritu de renovación marcado cuando se anunció la fusión entre British Airways e Iberia. Fallida renovación del consejo La idea inicial -no recogida oficialmente pero sí transmitida hasta la saciedad por ambas compañías aérea- era marcar varias fechas de salida en el calendario para ir renovando el consejo de administración del holding en tres tandas. El objetivo prioritario era lograr que al final de 2015, cuando se acababan las garantías de nacionalidad, estuviera totalmente renovado. Pero ya en la primera fase de este cambio estructural, señalada en rojo para la pasada Junta General de Accionistas de 2013, no se ha cumplido lo prometido desde los orígenes del holding aéreo. Según establece el documento de fusión de IAG, los primeros consejeros que debían reelegirse (estaba previsto tácitamente que no siguieran en el órgano ejecutivo) eran José Manuel Fernández-Norniella, Martin Broughton y Patrick Cescau. Pues de ellos, sólo Fernández-Norniella no decidió seguir por petición propia que fue aceptada por unanimidad en el consejo. Fuentes que conocen bien los entresijos del órgano de decisión del holding aseguran a este periódico que la baja del consejero español ha sido un respiro para Willie Walsh, ya que era "bastante molesto" y combativo en las reuniones. Sin embargo, este movimiento estratégico supone la continuidad de Martin Broughton, para algunos el verdadero cerebro de IAG. Las mismas fuentes aseguran que el presidente de British Airways es quien diseña la estrategia del grupo y que Willie Walsh la ejecuta. De hecho, Broughton fue la pieza clave en el intento de TPG (Texas Pacific Group) y BA por adquirir Iberia, una operación que fracasó y que acabó derivando años después en la fusión entre la británica y la española y la creación de IAG. Había más miembros del consejo que podían ser molestos para que Walsh ejerciera su ley y uno de ellos era, sin duda, Rodrigo Rato. El ex presidente de Bankia daba un empaque a la presencia española en el órgano de decisión que ha desaparecido tras su marcha obligada por su relevo en la entidad financiera. Meses después, la ya comentada y esperada salida de Bankia del accionariado había sido precedida del cambio de ejecutivos de Iberia que no eran de la cuerda de Walsh. Dos ejemplos claros han sido José María Fariza y Manuel López-Aguilar. Fariza, ex director financiero y de control de Iberia, y López-Aguilar, ex director comercial, eran dos históricos de la aerolínea con sede en Barajas que todavía quedaban de la época antigua. Conocían bien a British Airways y su constante afán durante años por adquirir la aerolínea española. Su relevo en la compañía era una manera indirecta de echarles la culpa de las preocupantes pérdidas del grupo. Cabeza de turco Algo parecido ocurría en el caso del ex consejero delegado de Iberia. En teoría, Rafael Sánchez-Lozano sí que era una persona de total confianza del consejero delegado de IAG pese a sus orígenes en Caja Madrid. Pero la dura negociación con los trabajadores de Iberia en el plan de transformación, que ha supuesto la aplicación de un ERE de 3.141 empleados y la bajada de sueldos de hasta un 18% en el caso de los pilotos y de un 11% para los empleados de tierra, quemó paulatinamente la figura del antiguo primer ejecutivo de Iberia, que fue relevado el pasado 27 de marzo. Era evidente que se le usó como cabeza de turco tras el duro conflicto con los trabajadores. Y es en ese momento donde comienza Willie Walsh a colocar sus peones. Sin prisa pero sin pausa. En el caso concreto de dos de ellos, son ejecutivos que antes no conocía pero en los que ha puesto su total confianza para tenerlos cerca. Son los ejemplos de Álex Cruz, consejero delegado de Vueling, y de Luis Gallego, nuevo consejero delegado de Iberia tras la marcha de Sánchez-Lozano. Hasta el momento eran directivos de relativo perfil bajo que se han ido granjeando la confianza de Willie Walsh y que, sobre todo, tienen en su ADN marcada a fuego la filosofía del low cost, un elemento indispensable en estos momentos en la política empresarial de Iberia, que ha lanzado incluso una nueva tarifa de precios baratos para competir cara a cara con los gigantes como easyJet y Ryanair. La única duda con Gallego y Cruz es saber si son nombramientos de transición hasta el cambio definitivo o si realmente Walsh deposita su confianza definitiva en ellos. Por el camino del proceso de adquisición total de Vueling se ha quedado Josep Piqué, presidente de la aerolínea con sede en El Prat hasta el pasado mes de agosto. No era un elemento molesto pero su vinculación con el actual Gobierno, que ha sido muy reacio a la reestructuración de Iberia a través del Ministerio de Fomento, incomodaba a Willie Walsh. De hecho, IAG anunció que la cúpula de Vueling no se iba a ver afectada tras el lanzamiento de la opa, una promesa que sólo se ha cumplido a medias con la consolidación de Álex Cruz como mano derecha de Willie Walsh. Un portavoz oficial de IAG preguntado por los cambios en la cúpula de la compañía y su posible significado no hizo ningún comentario al respecto. Movimientos clave Y entre estos movimientos estratégicos destaca sobre todos los demás uno que apenas ha llamado la atención. Es la incorporación de Julia Simpson a lugares clave del holding. Primero se convirtió en Jefa de Gabinete del equipo de gestión del grupo IAG y después fue nombrada sorprendentemente consejera en el consejo de administración de Iberia Opco. Este ha sido tal vez el órgano que ha sufrido más cambios desde que nació IAG. De los seis consejeros que han abandonado el consejo, cinco son españoles de la vieja guardia. La lucha es tal en el grupo que incluso para un cargo intermedio como el de Director de Comunicación de Iberia, puesto que ha quedado vacante tras la marcha del histórico Luis Díaz Güell, existe un pulso entre Antonio Vázquez y Walsh. Fuentes cercanas al proceso de selección aseguran que el presidente no ejecutivo de Iberia quiere colocar -lógicamente- a alguien de su total confianza, pero Willie Walsh pretende que el elegido no esté contaminado por la filosofía de Iberia como gran aerolínea de bandera y ha encargado a Julia Simpson, que es una persona muy cercana a Walsh, que haga por su lado una labor de selección. En esta batalla, incluso Vázquez tiene un equipo de asesoramiento personal que no gusta al ejecutivo irlandés de IAG. Otra prueba de que la batalla se juega en todos los frentes es que Díaz Güell antes de su marcha propuso varios candidatos, entre los que destacaban directores de comunicación consagrados en España y algún ex director de periódico. En todos los casos han sido rechazados por Willie Walsh. En toda esta marejada de luchas internas el que mejor se mueve es Enrique Dupuy. El antiguo director financiero de Iberia fue el que primero comprendió la importancia de IAG. Su labor en el proceso de fusión con BA le ha hecho acercarse a Willie Walsh, quien lo considera uno de los suyos. De hecho, Dupuy marca la estrategia del grupo, incluyendo el futuro de Iberia. En los pasillos de la compañía aérea española se cuenta que ha sido él quien frenó en el último minuto la renovación de flota de largo radio de Iberia. "Estaba prácticamente firmada, pero se paró hasta que la aerolínea española no lograra ser rentable", explican fuentes conocedoras del proceso de compra. ¿Relevo de Vázquez? Incluso se ha llegado a rumorear que Dupuy podría ser el relevo natural de Antonio Vázquez en la presidencia de Iberia, algo que desde IAG se ha negado rotundamente. La lógica dice que desde su puesto de financiero del holding y su contacto directo con la City puede tener una mayor libertad en la estrategia del grupo que encorsetado en la presidencia de Iberia, pero todavía no se ha dicho la última palabra en la reorganización del grupo. .
Recommended publications
  • Corporate Governance in This Section
    Corporate governance In this section Corporate Governance 54 Chairman’s introduction to Corporate governance 56 Board of Directors 58 Corporate governance 69 Report of the Audit and Compliance Committee 72 Report of the Nominations Committee 75 Report of the Safety Committee 76 Report of the Remuneration Committee INTERNATIONAL AIRLINES GROUP Annual Report and Accounts 2016 Strategic report Strategic “ 2016 has really tested the Group. governance Corporate However, the quality of our brands, our core management allied with IAG’s unique structure are our key assets to face these Financial statements head-winds. The Board remains enthusiastic and confident about the future.” information Additional Antonio Vázquez Chairman In compliance with the Financial Reporting Council’s UK Corporate Governance Code, the company has prepared the Corporate Governance Report that follows. www.iairgroup.com 54 Chairman’s introduction to corporate governance An efficient Board support that creates value “The IAG Board continues to evolve in important ways and in a challenging economic and political environment over the last 12 months has proved itself to be highly effective in supporting the Group’s management and adding value.” Antonio Vázquez Chairman The main role of the Board of Directors is to supervise the During the year Sir Martin Broughton stepped down as Deputy Group’s day-to-day management, helping them to create a Chairman and Senior Independent Director, having served for profitable and sustainable business and to maximise the value six years on the IAG Board and 10 years at British Airways. He is of the Company for the long term. succeeded by Patrick Cescau as Senior Independent Director.
    [Show full text]
  • British Airways Plc Annual Report and Accounts Year Ended 31
    British Airways Plc Annual Report and Accounts Year ended 31 December 2013 British Airways Plc Company registration number : 1777777 Contents Officers and professional advisers 1 Strategic and directors’ reports Strategic report Management review 2 Financial review 5 Principal risks and uncertainties 8 Directors’ report 10 Directors’ responsibilities statement in relation to the financial statements 12 Independent auditors’ report 13 Group financial statements Group consolidated income statement 14 Group statement of other comprehensive income 15 Balance sheets 16 Cash flow statements 17 Statements of changes in equity 18 Notes to the accounts 19 Operating and financial statistics 68 Fleet table 69 Principal investments 70 Glossary 71 Subsidiary undertakings 72 British Airways Plc Officers and professional advisers Directors Keith Williams (Executive Chairman) Alison Reed (Deputy Chairman) Nick Swift (Chief Financial Officer) Andrew Crawley Frank van der Post Ken Smart Gavin Patterson Garrett Copeland Julia Simpson Secretary Andrew Fleming Registered office Waterside PO Box 365 Harmondsworth UB7 0GB Parent company International Consolidated Airlines Group S.A. Calle Velázquez 130 Madrid, 28006 Spain Independent auditors Ernst & Young LLP 1 More London Place London SE1 2AF 1 BBAA AAR&AR&A 22013013 AA4.indd4.indd 1 003/03/20143/03/2014 16:3416:34 Strategic report The Directors present their strategic report for the year ended 31 December 2013. British Airways (‘BA’ or ‘the Group’) is the UK’s largest international scheduled airline and one of the world’s leading global premium airlines. The Group’s principal place of business is London with significant presence at Heathrow, Gatwick and London City airports. Operating one of the most extensive international scheduled airline networks, together with its joint business agreements, code share and franchise partners, BA flies to more than 400 destinations worldwide.
    [Show full text]
  • Lord Marshall of Knightsbridge 1933-2012 Lord Marshall of Knightsbridge by 1976, Marshall Was Appointed President and Chief Executive
    The magazine for everyone in British Airways Special Edition Lord Marshall of Knightsbridge 1933-2012 Lord Marshall of Knightsbridge By 1976, Marshall was appointed president and chief executive. As chief executive of British Airways in the early 1980s, Lord Marshall Reaching the top rung of the US corporate ladder was a remarkable of Knightsbridge led the state-owned corporation into successful achievement for a British executive at that time – one that led the way private ownership, placing UK civil aviation at the competitive forefront for others in later decades. of world air transport. By 1980, Marshall was a prized business asset and was being He went on to lead the airline for a total of 21 years and is probably headhunted by several major corporations. In the end, he was attracted most closely associated with BA. Yet, Lord Marshall had already made by an offer to return to the UK with Sears Holdings, the giant retail his name as an outstanding entrepreneur in North America and around group, in readiness to become chief executive. the world and went on to be recognised as one of Britain’s few, Under Margaret Thatcher’s premiership, Britain had a new business internationally-acclaimed business leaders. edge, with free-market sights set on state-owned industries including Described as a ‘business polymath’, his career embraced an air transport and plans to wholly privatise BA were passed in the Civil extraordinary range of major companies in many different sectors. Lord Aviation Act of 1980. It was an inauspicious time for such a move. The Marshall also devoted much time and expertise to public service duties, world was in the grip of recession which had serious effects on the especially championing British interests around the world, notably airline industry.
    [Show full text]
  • STRENGTHENING International Airlines Group
    INTERNATIONAL AIRLINES GROUP ANNUAL REPORT AND ACCOUNTS 2013 STRENGTHENING International Airlines Group 2013 Annual Report and Accounts WorldReginfo - 934e378d-e49b-4677-aa26-426a76bd662c Three years after our creation, International Airlines Group (IAG) has continued to STRENGTHEN its position. REVENUE OPERATING PROFIT (before exceptional items) +6.2% at constant €770m currency up €793m 1,000 5 7 20,000 770 18,67 18,11 8 600 485 16,339 14,79 15,000 5 22 13,456 200 3 -910 0 -2 10,000 -200 5,000 -600 0 -1,000 ‘09‘10 ‘11‘12 ‘13 ‘09‘10 ‘11‘12 ‘13 NON-FUEL UNIT COSTS PRODUCTIVITY LOAD FACTOR PASSENGER UNIT REVENUE -2.7% +4.3% +0.5 points +3.7% at constant at constant currency currency This is a measure of how This measures the amount The number of revenue Passenger revenue we manage costs, which of capacity (ASKs) that passenger kilometres flown divided by capacity to a large extent are our employees deliver expressed as a percentage (ASKs). This reflects both under our control. It is on average each year of the number of available the changes in prices we total non-fuel costs divided (ASKs divided by average seat kilometres flown. charge and the change by capacity (Available Seat number of employees). in volume of our sales. Kilometres ‘ASKs’). WorldReginfo - 934e378d-e49b-4677-aa26-426a76bd662c Group overview Governance Financial overview Financial statements Additional information Table of contents 2 Strengthening Financial overview 76 Operating and market environment Group overview 78 Financial review Introduction 88 Risk management and
    [Show full text]
  • Achieving Flexibility Together
    CORPORATE GOVERNANCE ACHIEVING FLEXIBILITY TOGETHER In compliance with the Financial Reporting Council’s UK Corporate Governance Code, the company has prepared the Corporate Governance Report that follows. CORPORATE GOVERNANCE 56 Chairman’s introducion to Corporate governance 58 Board of Directors 60 Corporate governance 69 Report of the Audit and Compliance Committee 72 Report of the Nominations Committee 75 Report of the Safety Committee 76 Report of the Remuneration Committee www.iairgroup.com 55 25/02/2016 12:16 CHAIRMAN’S INTRODUCTIONINTRODUCTION TO TO CORPORATE GOVERNANCE CORPORATE GOVERNANCE Throughout this period our approach to governance and the composition and function of the Board have evolved considerably. Above all we have tried to create the right internal governance structure to support our dynamic and highly successful business model, led by a holding company and formed of independent airlines with their own brands and operations. The Group was born as the product of a merger of two companies, with structures inevitably complex due to airline- specific regulations and the particular circumstances of both companies. Since then, the Group has grown to include two new airlines and has evolved as a distinct entity to those originally merged companies. Our job as a Board has been to look progressively at ways to adapt to this new born entity and to its strategy and culture, simplifying the initial structures so that we have the flexibility that this dynamic business needs. I’m “As this report testifies, the last five pleased to report that this work has been largely very successful. years have been a momentous time for Proof of that fact came during the year with the successful International Airlines Group and all its acquisition and integration of Aer Lingus, our fourth operating operating companies and, as you’d expect, airline alongside British Airways, Iberia and Vueling.
    [Show full text]
  • BA349 Cover Vaw5
    www.britishairways.com 99/20001999/2000 Annual Report & Accounts General enquiries: 0845 77 999 77 Year at a glance • Worst result in eighteen years but dividend held. • e-business strategy unveiled, including plans to increase on-line commercial activity, smarter • Delivery of the new strategy under way, with ways to work and plans for several e-ventures new aircraft, new products and training for a new to capitalise on the airline’s assets. service style. • Further progress made with oneworld alliance • Significant investment announced in 21st Century partners, including combining sales functions in Travel, with flat beds in Club World, a new World the Far East and schedule changes with Qantas, Traveller Plus cabin, upgrades to Club Europe, and investment in a 9% stake in Iberia. Concorde and First and ongoing implementation • A Y2K bug-free entry into the new Millennium, ™ of the seat-back video and other improvements oneworld – the alliance of British Airways, American Airlines, with the British Airways London Eye adding to to World Traveller. the celebrations. • The Business Efficiency Programme exceeds Cathay Pacific, Finnair, Iberia and Qantas will be further strengthened • Bob Ayling resigned as Chief Executive its £1 billion target. in March 2000, after 15 years’ service with in 2000 when it is joined by Aer Lingus and LanChile. • Nine major new initiatives to improve the the airline. Rod Eddington appointed profitability of the company launched. Chief Executive, with effect from 1 May 2000. Our vision is to make global travel
    [Show full text]
  • Muchos Cambios En Menos De Tres Años Salidas Y Entradas De Consejeros Y Ejecutivos
    Muchos cambios en menos de tres años Salidas y entradas de consejeros y ejecutivos Sale Entra Persona de confianza de Willie Walsh CONSEJO DE IAG CONSEJO DE ADMINISTRACIÓN DE IBERIA OPCO EQUIPO DE GESTIÓN DE IAG NACIMIENTO DE IAG AHORA NACIMIENTO DE IAG AHORA NACIMIENTO DE IAG AHORA Antonio Vázquez Romero Antonio Vázquez Romero Antonio Vázquez Romero Antonio Vázquez Romero Willie Walsh Willie Walsh Presidente no ejecutivo Presidente del Grupo IAG Presidente no ejecutivo Presidente Consejero Delegado Consejero delegado Martin Broughton Sir Martin Broughton Rafael Sánchez-Lozano Jorge Pont Sánchez Keith Williams Keith Williams Vicepresidente no ejecutivo Vicepresidente del Grupo IAG Consejero delegado Vicepresidente Consejero Delegado de BA Consejero delegado de British Airways Willie Walsh Willie Walsh José M. Fariza Batanero Luis Gallego Martín Rafael Sánchez-Lozano Luis Gallego Consejero delegado Consejero Delegado del Grupo IAG Consejero Ejecutivo Consejero delegado Consejero delegado de Iberia Consejero delegado de Iberia César Alierta Izuel César Alierta Izuel Manuel A. López Aguilar Enrique Dupuy De Lome Enrique Dupuy De Lôme Enrique Dupuy De Lome Chávarri Consejero independiente Consejero Independiente Consejero Ejecutivo Consejero Director Financiero IAG Director Financiero Patrick Cescau Patrick Cescau Enrique Dupuy De Lôme Javier Sánchez-Prieto Alcázar Robert Boyle Robert Boyle Consejero independiente Consejero Independiente Director Financiero IAG Consejero Director Sinergias de Ingresos Director de Estrategia José M. Fdez. Norniella
    [Show full text]
  • Permanent Structural Change Bringing Sustainable Results
    British Airways British Airways 2009/10 Annual Report and Accounts 2009/10 Annual Report www.ba.com PERMANENT Our investor relations website is STRUCTURAL www.bashares.com CHANGE BRINGING Our website for individual shareholders is SUSTAINABLE www.bashareholders.com RESULTS... British Airways Plc Registered number: 1777777 2009/10 Annual Report and Accounts Who we are British Airways is the UK’s largest international scheduled airline. We fly our customers at convenient times to the best located airports across the world. We are one of the world’s leading global premium airlines. Our principal place of business is London with significant presence at Heathrow, Gatwick and London City. Some 20 million people live within commuting distance of these airports, on the doorstep of the City of London, the world’s biggest premium travel market. We also operate a worldwide air cargo business, largely in conjunction with our scheduled passenger services. Operating one of the most extensive international scheduled airline route networks, together with our codeshare and franchise partners, we fly to more than 300 destinations worldwide. In 2009/10, we carried nearly 32 million passengers. We support the UK economy by providing vital arteries for trade and investment, meeting the demand for business travel and leisure travel for holidays and family reunion. In 2009/10, we earned £8 billion in revenue, down 11 per cent on the previous year. Passenger traffic accounted for 87 per cent of this revenue, while 7 per cent came from cargo and 6 per cent from other activities. We carried 760,000 tonnes of cargo This report has been printed by Pureprint on Revive 100 uncoated to destinations in Europe, the Americas and which contains 100% recycled and de-inked pulp from post- throughout the world.
    [Show full text]
  • Verview the Magazine for British Airways Shareholders
    November 2009 Issue 43 VERVIEW THE MAGAZINE FOR BRITISH AIRWAYS SHAREHOLDERS THE SKY’S THE LIMIT The proposed merger between British Airways and Iberia is great news for customers and shareholders INCORPORATING2009 HALF-YEAR THE FINANCIAL REPORT www.bashareholders.com [[1L]] Welcome to the latest issue of Overview, the magazine for British Airways shareholders. On the following pages you’ll fi nd details of the latest fi nancial results, plus comments from the DIRECTORY chairman, CEO and CFO. Registered Offi ce Waterside, PO Box 365, Harmondsworth In addition, we take a close look at BA’s new leisure strategy, UB7 0GB take a ride on the maiden fl ight of the new service from London Registered Number 1777777 City Airport to New York and check out the thinking behind Shareholder Information UK the current Opportunities advertising campaign. For queries in relation to your shareholding We’d love to hear your views: you can send us an email at or shareholder benefi ts contact: Company Registrars, [email protected]. We’ll be publishing a selection of Computershare Investor Services PLC, letterslet in the next edition of Overview, The Pavilions, anand the writer of the best one will win Bridgwater Road, Bristol BS99 6ZY a four-night holiday in Las Vegas. Tel: 0870 702 0110 SSee the back page for details. Email: [email protected] Tim Hulse, Editor With your shareholder reference number you can check your shareholding online at: Kirsty Gallacher helped British Airways celebrate www-uk.computershare.com/investor its 90th anniversary in August. Another reason for celebration recently was BA’s award for Best Business British Airways Shareholder Services Airline at the Condé Nast Traveller Readers’ Awards.
    [Show full text]
  • Chairman's Statement
    4 / British Airways 2008/09 Annual Report and Accounts Chairman’s statement We are in the grip of a devastating global economic downturn and the next year will be extremely difficult for us. In times of crisis, it is essential that we keep our sights fixed on the future. That is why we are continuing with our plans to firmly establish British Airways as a high-performing, market-focused, global premium airline. British Airways 2008/09 Annual Report and Accounts / 5 We have made no secret of the fact that we believe in the next 10 or 20 years the industry will be dominated by a small number of global airline groups. We want to be leaders Overview in that consolidation process. Twelve months ago we reported record recommend either a dividend profits, achieving a 10 per cent operating to shareholders or a bonus to our profit margin for the first time in our history. senior executives. We knew then that the year ahead would We have looked at these two issues be far more difficult, but the pace of through the same lens. Our long-term Our business governance Corporate Financial statements economic slowdown has taken almost aim is to provide our shareholders with everybody by surprise. Barely a month has a consistent and growing dividend stream passed without us seeing a sharp revision and to pay meaningful executive and downwards in economic forecasts and an employee bonuses. But we cannot justify equally quick decline in business activity either at the moment. and consumer confidence. Government action Financial results During these challenging times, the In the first six months of the year we need for clear-sighted leadership from delivered a good performance given the policy makers – both nationally and incredibly difficult trading conditions, internationally – is greater than ever.
    [Show full text]
  • Available at Over 145 Destinations Worldwide
    InvestorNovember 2003 Issue number 31 www.bashareholders.com Incorporating the 2003-2004 Summary Interim Financial Statement Available at over 145 destinations worldwide BRITISH AIRWAYS INVESTOR NOVEMBER 2003 YOUR COMPANY’S PERFORMANCE Lord Marshall explains the airline’s performance during the first half of the year GROUP pre-tax profit for the six months to record how distressing it was to witness profile, in the face of difficult economic ended September 30 was £60 million, a fall the misery heaped on our customers by this conditions and an evolving global market of £250 million over the corresponding hasty ‘wildcat’ action. We have apologised place. These strategies are partly reactive to period of 2002. Profit attributable to unreservedly to all those caught up in the circumstance but essentially, they are shareholders amounted to £35 million, disruption. This was not an episode to be designed to innovate, develop new compared to £192 million. The directors proud of. opportunities and improve our margins, over have decided against payment of an interim It has been important for all sides to learn the long term. dividend. At the operating level, profit for lessons from this unfortunate incident and to Third Heathrow Runway the six months came to £235 million. This move on together constructively, in the best was a reduction of £171 million on the interests of the shareholders, customers and Consultation on proposals for a new air previous year of which some £40 million can employees of British Airways. I believe we transport policy to span the next 30 years be attributed to the unofficial strike at are doing so.
    [Show full text]
  • 2008/09 Annual Report and Accounts
    British Airways British Airways 2008/09 Annual Report and Accounts 2008/09 Annual Report www.ba.com Our investor relations website is www.bashares.com Our website for individual shareholders is www.bashareholders.com 2008/09 Annual Report and Accounts Where we fly to as at May 21, 2009 Principal activities The main activities of British Airways Plc and its subsidiary undertakings are the operation of international and domestic scheduled air services for the carriage of passengers, freight and mail and the provision of ancillary services. Our mainline network is shown below. 9 67 38 UK Europe Americas 12 Middle East and South Asia 15 7 Africa Asia/Pacific Americas UK Europe Africa Middle East Asia/Pacific and South Asia Designed and produced by Likemind. www.likemind.com Antigua Philadelphia Aberdeen Alicante Gibraltar Paphos Abuja Abu Dhabi Bangkok Atlanta Phoenix Edinburgh Amsterdam Hamburg Paris Accra Bahrain Beijing Printed by CTD on behalf of RR Donnelley Baltimore Port of Spain Glasgow Antalya Helsinki Pisa Algiers Bangalore Hong Kong Barbados Providenciales Jersey Athens Istanbul Prague Cairo Chennai Shanghai Bermuda Rio de Janeiro London (City) Barcelona Izmir Pristina Cape Town Doha Singapore Boston San Francisco London (Gatwick) Bari Kiev Rome Dar es Salaam Dubai Sydney Buenos Aires Sao Paulo London (Heathrow) Basle Krakow Salzburg Entebbe Hyderabad Tokyo Calgary Seattle Manchester Belgrade Larnaca Sofia Johannesburg Kuwait Chicago St Kitts Newcastle Berlin Lisbon St Petersburg Lagos Mumbai Dallas St Lucia Bologna Luxembourg Stockholm Luanda Muscat This report is printed on Revive 100 Uncoated which contains Denver Tampa Bordeaux Lyon Stuttgart Lusaka New Delhi 100% recycled and de-inked pulp from post consumer waste Grand Cayman Toronto Brussels Madrid Thessaloniki Mauritius Tel Aviv Grenada Trinidad & Tobago Bucharest Malaga Tirana Nairobi which has been FSC (Forest Stewardship Council) certified.
    [Show full text]