BA Tells cabin crew to take 20% Pay cut | UK Market Update

UK merchants stumped up just 14% of the £2.5bn quarterly rent bill due this week, as the high street crisis sparked by the lockdown echoed through the real estate sector. The fall in the rental take to a record low add together to the troubles of Intu Properties, one of Britain’s biggest shopping centre owners, which on Friday faces a cutoff date to convince money lenders to permit a debt repayment holiday. If discussions break down, the owner of the Trafford Centre in Manchester says it could go into administration.

British Airways has told its longest-serving cabin crew they will have to take a 20% basic pay cut and alter operating patterns if they are to be retained, as it plans to lay off up to 30% of its staff. The proposal comes almost two months after BA notified unions of plans to lay off 12,000 staff after the pandemic stranded nearly all passenger flights. BA flew only 485 passenger flights in May, the equivalent figure it flew in half a day in May 2019. The airline is understood to have been burning £20m a day while the vast mass of its fleet has been grounded.

Customers are being cautioned about a severe upsurge in Covid-19-related holiday swindles, including a wave of false caravan and motorhomeU entries aiming those preparing a summer staycation. The alert from UK Finance, the banking industry body, comes three days after the government declared a moderation of the lockdown rules in England targeted at aiding to get the tourism sector back up and moving.

#COVID19 #UK #Finance #Kalkine

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is not authorised or regulated by the Financial Conduct Authority to provide regulated advice. The purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. The Content is guidance about the different types of investments that are available and sets out general principles to continue before making investment decisions. Kalkine Media is neither authorised nor qualified to provide regulated investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from an appropriately authorised and/or qualified financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.



Rated 4.3/5 based on 904 Reviews at Google My Business