British Airways faces strike, Aer Lingus loses altitude
British Airways faces the prospect of industrial action by members of the Unite union from 21-Dec-2009 over changes to working practices, a pay freeze and job cuts. A ballot of over 12,000 Unite members will be known later today.
Talks between union leaders and BA CEO, Willie Walsh, failed on Friday. The airline’s shares closed 0.5% lower. BA staff last went on strike in 1997.
Europe selected airlines daily share price movements (% change): 11-Dec-09
Aer Lingus drops
Meanwhile Aer Lingus’ shares dipped another 0.9% on Friday, as investors digested reports the airline’s CFO has resigned. The carrier's shares have plunged 60% since the start of 2009.
Aer Lingus share price growth: Jan-2009 to Dec-2009