Qatar Airways CEO says airlines "should pay their staff more".
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Qatar Airways CEO says airlines "should pay their staff more".
Thought this was interesting. Al-baker says that US airlines should pay their staff more. Well, US pilots are ALREADY paid more than CX pilots, so what does that say about the pay levels at CX...
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https://www.cnbc.com/2017/11/07/us-a...rways-ceo.html
.https://www.cnbc.com/2017/11/07/us-a...rways-ceo.html
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Pay Levels
It says Swires and the CX Senior "Leadership" elite want to pay pilots at Uber Driver levels.
Don't even talk about the crap medical, dental (joke) and pension sub-benefits.
Don't even talk about the crap medical, dental (joke) and pension sub-benefits.
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Cathay & Qatar: Who wins?
by Karen Walker
Nov 07, 2017
At first glance, it’s difficult to see the gains that Qatar Airways’ stake in Cathay Pacific Airways brings to either airline. But dig deeper and there may be advantages that emerge from this new Chinese-Arab aviation relationship.
Qatar Airways acquired a 9.6% stake in Cathay--for about $600 million—from Kingboard Chemical Nov. 6. Although a surprise for many, it follows a pattern by Qatar Airways Group CEO Akbar Al Baker, who has already acquired a 20% stake in British Airways parent International Airlines Group, a 10% stake in Santiago-based LATAM Airlines Group, and a 49% investment in Italy's Meridiana.
Al Baker also tried to take a 10% stake in American Airlines earlier this year (American, BA, Cathay, LATAM and Qatar are all oneworld global alliance members), but backed off after American chairman and CEO Doug Parker made clear the bid was not welcome.
But aside from a closer business relationship with another of its oneworld partners, and another extension of its global profile, what does Cathay’s network do for Qatar or vice versa, given they already codeshare through oneworld?
Cathay no longer flies to Doha and it’s hard to see either airline gaining much additional feed from the other beyond what they are already achieving. Indeed, there is some potential for harm—certain airlines may be reluctant to partner with Cathay now that Qatar Airways is a shareholder.
That said, Qatar has bought out Kingboard Chemical’s stake. There’s not much evidence that Kingboard was a particularly useful shareholder. What you now have is an airline owned by two airlines--Air China, which holds almost 30%, and Qatar--along with Cathay’s longtime conglomerate owner, Swire Pacific, which owns 35% and is a highly-regarded company with a deep understanding of the aviation industry. Swire’s Aviation Division also includes Hong Kong MRO provider HAECO. Cathay’s owners are now all experts in commercial air transport.
Will the Chinese owners get along with their new Arab partner? Perhaps better than you might think. Al Baker has a reputation for speaking his mind and delivering acidic remarks. But I’ve been told by executives that he is a good oneworld partner. What he seems most to crave is respect from those he respects. When given, his behavior is far more business-like and polite than the often-contemptuous public persona would lead you to believe.
And while a Cathay board position has so far not been addressed in statements on the deal, Al Baker has not sought to be on the board of IAG, where he has a larger stake and a personal friendship with CEO Willie Walsh. I suspect Al Baker will seek a good relationship, not a fractious one, with Cathay chairman John Slosar and CEO Rupert Hogg.
Besides, airline partners can be useful to each other beyond networks and shared lounges. This past summer, BA wet-leased aircraft from Qatar Airways when its unionized cabin crew went on strike. That allowed BA to maintain most of its schedule.
Competitor airlines, therefore, should take this development seriously. It brings together a large and fast-growing Chinese mainland carrier, an historically important airline based at one of the world’s most significant trade centers, and an innovative Middle East carrier whose Doha hub can link the regions where commercial air transport demand is forecast to grow fastest.
Karen Walker [email protected]
by Karen Walker
Nov 07, 2017
At first glance, it’s difficult to see the gains that Qatar Airways’ stake in Cathay Pacific Airways brings to either airline. But dig deeper and there may be advantages that emerge from this new Chinese-Arab aviation relationship.
Qatar Airways acquired a 9.6% stake in Cathay--for about $600 million—from Kingboard Chemical Nov. 6. Although a surprise for many, it follows a pattern by Qatar Airways Group CEO Akbar Al Baker, who has already acquired a 20% stake in British Airways parent International Airlines Group, a 10% stake in Santiago-based LATAM Airlines Group, and a 49% investment in Italy's Meridiana.
Al Baker also tried to take a 10% stake in American Airlines earlier this year (American, BA, Cathay, LATAM and Qatar are all oneworld global alliance members), but backed off after American chairman and CEO Doug Parker made clear the bid was not welcome.
But aside from a closer business relationship with another of its oneworld partners, and another extension of its global profile, what does Cathay’s network do for Qatar or vice versa, given they already codeshare through oneworld?
Cathay no longer flies to Doha and it’s hard to see either airline gaining much additional feed from the other beyond what they are already achieving. Indeed, there is some potential for harm—certain airlines may be reluctant to partner with Cathay now that Qatar Airways is a shareholder.
That said, Qatar has bought out Kingboard Chemical’s stake. There’s not much evidence that Kingboard was a particularly useful shareholder. What you now have is an airline owned by two airlines--Air China, which holds almost 30%, and Qatar--along with Cathay’s longtime conglomerate owner, Swire Pacific, which owns 35% and is a highly-regarded company with a deep understanding of the aviation industry. Swire’s Aviation Division also includes Hong Kong MRO provider HAECO. Cathay’s owners are now all experts in commercial air transport.
Will the Chinese owners get along with their new Arab partner? Perhaps better than you might think. Al Baker has a reputation for speaking his mind and delivering acidic remarks. But I’ve been told by executives that he is a good oneworld partner. What he seems most to crave is respect from those he respects. When given, his behavior is far more business-like and polite than the often-contemptuous public persona would lead you to believe.
And while a Cathay board position has so far not been addressed in statements on the deal, Al Baker has not sought to be on the board of IAG, where he has a larger stake and a personal friendship with CEO Willie Walsh. I suspect Al Baker will seek a good relationship, not a fractious one, with Cathay chairman John Slosar and CEO Rupert Hogg.
Besides, airline partners can be useful to each other beyond networks and shared lounges. This past summer, BA wet-leased aircraft from Qatar Airways when its unionized cabin crew went on strike. That allowed BA to maintain most of its schedule.
Competitor airlines, therefore, should take this development seriously. It brings together a large and fast-growing Chinese mainland carrier, an historically important airline based at one of the world’s most significant trade centers, and an innovative Middle East carrier whose Doha hub can link the regions where commercial air transport demand is forecast to grow fastest.
Karen Walker [email protected]
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Here's a good pull quote from the article above:
What can go wrong 
?
Swire Pacific, which owns 35% and is a highly-regarded company with a deep understanding of the aviation industry. Swire’s Aviation Division also includes Hong Kong MRO provider HAECO. Cathay’s owners are now all experts in commercial air transport.
?
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Experts... experts I tell you!
Profit Warning
The 2017 trading outlook for most of the Company’s individual businesses remains broadly the same. However, somewhat worse results are now expected at HAECO Americas in the second half of 2017 than were expected when the Interim Report 2017 of HAECO was published. In addition, as required by applicable accounting standards, a review of the carrying value of the business of HAECO Americas has been undertaken. As a result of this review (which took into account the prospects for the airframe maintenance business of HAECO Americas), impairment charges currently estimated at approximately HK$625 million are expected to be made in 2017. The effect of this is that there is now expected to be a consolidated loss attributable to the shareholders of the Company for 2017.
Executive Directors: J.R. Slosar (Chairman), W.E.J. Barrington, C.P. Gibbs,
R.J. Sharpe, A.K.W. Tang;
Non-Executive Directors: G.T.F. Hughes, M.B. Swire;
Profit Warning
The 2017 trading outlook for most of the Company’s individual businesses remains broadly the same. However, somewhat worse results are now expected at HAECO Americas in the second half of 2017 than were expected when the Interim Report 2017 of HAECO was published. In addition, as required by applicable accounting standards, a review of the carrying value of the business of HAECO Americas has been undertaken. As a result of this review (which took into account the prospects for the airframe maintenance business of HAECO Americas), impairment charges currently estimated at approximately HK$625 million are expected to be made in 2017. The effect of this is that there is now expected to be a consolidated loss attributable to the shareholders of the Company for 2017.
Executive Directors: J.R. Slosar (Chairman), W.E.J. Barrington, C.P. Gibbs,
R.J. Sharpe, A.K.W. Tang;
Non-Executive Directors: G.T.F. Hughes, M.B. Swire;
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The effect of this is that there is now expected to be a consolidated loss attributable to the shareholders pilots of the Company for 2017.
There, I fixed it.
Oh, and Al-Baker, the man who holds his foreign employees practically hostage in Qatar, fires anybody at a whim, exploits them, uses the cabin crew compounds as his personal harem, dictates the punishing regulations they have to work under and prohibits any sort of industrial representation might, just might, NOT be the right person to talk about appropriate airline staff compensation...
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So In Summary
Slosar has been the WORST Chairman ever. Period. Failure after failure after failure.
And Al Akbar is a SLAVE king.
Things are looking seriously Dystopian.
And yet the the trainers sit around and giggle and make up BS
We are DOOMED
Slosar has been the WORST Chairman ever. Period. Failure after failure after failure.
And Al Akbar is a SLAVE king.
Things are looking seriously Dystopian.
And yet the the trainers sit around and giggle and make up BS
We are DOOMED
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Sadly, I would guess that he's used to basically dictating what he wants to the Qatari CAD (whatever their official title is) and getting his way every time.
It think he'll find it's a bit different here in Hong Ko.... oh... wait a minute....
It think he'll find it's a bit different here in Hong Ko.... oh... wait a minute....
