CX annual results a disappointing 3.15 billion profit
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Losses from hedges $12.468 billion, so if the company hadn't hedged we would have made $15.6 billion? From CNBC CX have hedged through until 2018 apparently while CNBCs dozen or so analysts can't see any upside to oil prices.
Be interested to see the logic behind CX betting against the market.
Be interested to see the logic behind CX betting against the market.
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Don't feel bad about the measly 2000hkd profit share, at least we Pilots are beginning to fight back. Think of how stupid cabin crew must feel right now; two years of consecutive awards and all they have to show for it is 4000hkd. If I were them I would consider joining us in the fight to right this ship and reward those who actually bust their ass to make these profits that management will once again distribute amongst themselves. I guess they earned it, after all, they work hard on complicated things like fuel hedging and cargo pricing cartel activity. Those critical skills cost money you know.
I think we need to escalate to industrial action cause judging by AT's last email on F-PX they still don't seem to get it.
I think we need to escalate to industrial action cause judging by AT's last email on F-PX they still don't seem to get it.
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Interesting reading
Staff costs a massive 27%.....
They are hell bent to keep us subdued wage wise ...
Writing is on the wall
No pay rise for ever
Cathay Pacific 2014 profit: remaining slightly ahead. Seismic change needed but seemingly unlikely | CAPA - Centre for Aviation
Staff costs a massive 27%.....
They are hell bent to keep us subdued wage wise ...
Writing is on the wall
No pay rise for ever
Cathay Pacific 2014 profit: remaining slightly ahead. Seismic change needed but seemingly unlikely | CAPA - Centre for Aviation
Join Date: Nov 2012
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We need to be thankful for the $250 usd we got.
Oil Prices Slide on Expectations of Iran Deal - WSJ
Those who bet (and won)on oil falling see it going as low as $25 usd a barrel, in which case our losses from hedging around half our $40 billion oil bill at $110 a barrel is around $16billion.
I know this is woefully simplified and $16 billion is worst cast but even $10 billion is a lot when we only made 3 and change and losses from hedging were only $911 million last financial.
Crystal ball anyone?
Oil Prices Slide on Expectations of Iran Deal - WSJ
Those who bet (and won)on oil falling see it going as low as $25 usd a barrel, in which case our losses from hedging around half our $40 billion oil bill at $110 a barrel is around $16billion.
I know this is woefully simplified and $16 billion is worst cast but even $10 billion is a lot when we only made 3 and change and losses from hedging were only $911 million last financial.
Crystal ball anyone?
