News in brief:
“Mystery bonus” when you buy Avios
British Airways is offering a random bonus of between 15% and 30% when you purchase Avios points between now and 23rd March.
To find out what bonus you are getting, you need to visit the ‘buy Avios’ page on ba.com here and log in. I was offered the maximum of 30%.
Unless you have a very specific plan for the points, I don’t recommend jumping in at this price. I don’t get interested unless I’m paying under 1p. However, if you need to top up your account for a specific redemption you have in mind, this deal is certainly better than nothing.
Alex Cruz loses his bonus
According to reports in the Spanish press, British Airways CEO Alex Cruz will receive no bonus for 2016 due to his role in the Vueling debacle last summer.
Vueling, IAG’s low cost airline based in Barcelona, was forced to cancel hundreds of flights during the peak season. Rapid expansion meant that it had scheduled flights but ended up not having enough staff to operate them, especially co-pilots. The departure schedule also proved to be too inflexible to cope with any sort of delay, including frequent French ATC strikes.
The Spanish article is here and a translation (thanks Anna) is below:
Alex Cruz, the Spanish CEO of British Airways, will not receive a bonus for 2016 from the IAG airlines group. The company said in a statement to the National Stock Market Commission that he will be the only one of the 12 senior executives not to receive a bonus.
The bonus is paid half in cash and half in the right to a percentage of shares in the company which can be deferred by up to three years, meaning that they can be awarded any time until 2020. Additionally, these executives entitled to a performance-linked action plan based on a series of targets and linking with managers of IAG, explains El Confidencial [a Spanish online newspaper].
The bonuses will range from €93,670 payable to staff chief Julia Simpson to €651,672 payable to William Walsh, CEO of the parent company. Cruz, who has held one of the highest positions in the group since last April, will receive nothing. Iberia’s president, Luis Gallego, will receive over €335,000, and the president of Vueling, Javier Sanchez Prieto, €190,919.
It’s worth remembering that last summer Sanchez Prieto lived through Vueling’s worst crisis in 11 years, when the airline was on the brink of collapse due to delays and cancellations. At that time, the president of the low cost airline blamed his predecessor, Alex Cruz, for the problems.
Thanks to Andy.
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