KA Pilot Pay
The C scale Special Allowance (housing) has not increased since 2014. The pay rise last year was 0% and it looks like it will be 0% again this year. The 3 years prior to that were all sub inflation pay rises and the total remuneration continues to reduce in its purchasing power. The costs of rent, food, schooling, medical, taxies, travel, electricity, gas all march on. The standard package continues to erode at quite a pace. Yet the global demand for experienced pilots and the value of the contracts they offer continues to increase. Quite a push pull factor.
The standard contract is ok for single guy or girl to have a fair standard of living but is not even close to being enough to support a family. Are the company going to wait until all the good guys leave before they do anything to address this? I appreciate that we are adequately manned now but what is the cost replacing the talent that is walking out the door? Even the cadets are starting to leave and I suspect they were assumed to be life long loyal employees. What a shame to invest so much in time, money, resources and training Captain overtime to get this this far only for them to join our competition.
We are all aware of the companies financial predicament, mostly caused by the disastrous decisions made in fuel hedging. If the 2017 $6.4bn HKD loss to fuel hedge was taken out of our results we would be sat on a $5bn HKD profit. The hedge will unwind over the next year or 2 and we should be in a much better place regardless of the efficiencies that are belatedly being sought.
I desperately hope the company understand the costs of losing "Our People' and the expenses that will be incurred to replace them. Not to mention the free trained and experienced talent that will help our competitors to further reduce their cost base and give them the continued ability to attack our yield. A raise in Special Allowance is long overdue. A cost of inflation pay rise on the basic would help people survive until better times ahead when we can all share the bounties of our hard work.
Last edited by HKbuspilot; 14th Mar 2018 at 14:55.
Reason: Speiling and grandma