NEW British Airways Chief Executive Willie Walsh has targeted the company's managers in a major money-saving strategy.
BA has announced it is to re-structure its business with a 35 per cent cut in the number of its 1,715 managers by March 2008.
Phase one of the new plan will see 94 of the company's top executives leave the business by March 31, 2006.
The actual figures comprise a 50 per cent reduction in senior mangers, from 414 jobs to 207, and a proposed 30 per cent in middle managers from 1,301 jobs to 911 jobs. This brings the total number of job cuts to 597.
Willie Walsh, BA's recently appointed new Chief Executive, made his objectives clear in a short statement.
"I said when we reported our second quarter financial results last month that our costs were up in most areas and that, as a result, we need to
re-energise our efforts to delive a competitive cost base.
"We must lower our costs so that we can fund future investment in our business. Today marks the start of a renewed effort to deliver our goal of a 10 per cent operating margin."
BA will soon be operating only one service out of the Province - the Belfast City to Manchester route.
The airline shocked travellers in the North West of the Province last week by announcing that it is discontinuing its City of Derry to Manchester
service. The BA link will cease to operate from January 9.
A Spokesperson for City of Derry Airport expressed the airport's disappointment to see the disappearance of another full service airline
route.
"The route has been under pressure from other low cost airlines for the past two years and we had already begun discussions with a low cost operator for this route.
"In the interim we would like to take this opportunity to advise customers wishing to travel to this area that Ryanair will commence a new low cost daily service to Liverpool from February 5."
Flights between City of Derry and Nottingham are also scheduled to operate daily from City of Derry Airport in the spring.