I congratulate Members from both sides of the House on securing such a vital debate.
The Airbus CEO has warned that this is the gravest crisis that the aerospace industry has ever known. The need for Government intervention is crucial for the survival of the sector and its 1.6 million jobs. Yesterday, I met Jamie, a trade union rep from BWT Senior Aerospace, who was taking part in a “save our jobs”
rally. Jamie and the members in his factory have agreed to a four-day working week, resulting in saving at least a third of the planned redundancies in his plant. The agreement demonstrates that trade unions and their members are prepared to play their part to preserve employment during the pandemic.
I am now going to say a sentence I never, ever thought I would utter: well done Michael O’Leary and Ryanair. After announcing huge job losses in May, Ryanair entered negotiations with Unite the Union and came to an agreement on a temporary pay cut for members which took redundancies off the table. In stark contrast is the behaviour, as has been mentioned, of British Airways. BA is responding to the pandemic by firing all its 42,000 staff and rehiring those who survive, roughly 30,000, on inferior terms and conditions of employment. Some face a loss of income of between 55% and 75%. BA received £200 million from the UK Government’s coronavirus loan scheme and over £100 million in furlough payments, yet it is paying its outgoing CEO Willie Walsh a leaving bonus of over £800,000 as part of a total package worth £3.2 million.