Mostly due to compensating employees fairly in the 90’s-early-2000’s. Now they’re desperately trying to remove those compensation packages.
Although it could just be cost aversion masquerading as a hard requirement.
> Despite these challenges, our revenues have held up, increasing 5.7 per cent versus last year. ... we achieved an operating profit of £1,952 million before exceptional items and a return on invested capital (RoIC) of 17.3 per cent
source: page 18 of https://www.iairgroup.com/~/media/Files/I/IAG/documents/annu...
I think BA (and their parent IAG) are going to be just fine.
Last time I traveled BA in first it was shocking, rude crew, dirty seats. FinnAir in Business on the other had is a joy to behold.
I used to hit 2500 tier points a year on BA metal, I barely make 300 now, just occasional short flights in europe, but they've doubled-down on the 737 max, so I guess that will end soon too.
It seems like the American and European airlines are all going down the tubes, unless you shell out for business class on certain ones. The Asian airlines are the best ones these days; you don't have to pay extra for a first-class or business-class ticket to get superb service and cleanliness there.