Outlook: Ayling fights to pull BA's shares out of tailspin
Wednesday 29 September 1999
This would be a magnicent publicity coup, albeit an expensive one, but it couldn't seriously be viewed as much else. Mr Branson would find it impossible to gain regulatory clearance for a stake large enough to exert any influence. So if the chairman of Virgin can see value in BA, even in its current state of de-tumescence, then perhaps others should too.
The impending sale of a minority stake in British Midland to one of three suitors will crystallise the value of all those precious take-off and landing slots at Heathow. BA has almost three times the number of slots as BM. Furthermore, BA's continental rivals in the shape of KLM, Swissair and Lufthansa have started to follow its example by reducing transatlantic capacity in the hope of eventually improving revenue per passenger.
Unfortunately, time is a commodity that is increasingly in short supply as far as the chief executive of BA is concerned. Since Mr Ayling took the controls, BA's shares have remained grounded nothwithstanding the pounds 1bn of efficiency gains Mr Ayling says the airline has reaped in the last three years.
Next week BA will publish another grim set of monthly traffic figures and if the half-year results are as bad as the City fears, then the heat will be turned up further under Mr Ayling. BA's ferris wheel will presumably be in place by the millennium, but will its chief executive?
- 1 Isis burns thousands of books and rare manuscripts from Mosul's libraries
- 2 Scarlett Johansson new band 'already hit with legal complaint' from another The Singles
- 3 Husband and wife die holding hands within hours of each other after 67 years of marriage
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
Isis burns thousands of books and rare manuscripts from Mosul's libraries
Husband and wife die holding hands within hours of each other after 67 years of marriage
Mohammed Emwazi: Family of man named as 'Jihadi John' described by neighbours as 'normal Muslim family'
Mohammed Emwazi: Nine things we know about man named as Isis militant 'Jihadi John'
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
This is what it's like to be dead, according to a guy who died for a bit
iJobs Money & Business
£17000 - £25000 per annum: Recruitment Genius: An opportunity to join this new...
£18000 - £21000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£36000 - £44000 per annum: Recruitment Genius: Encouraging more businesses to ...