That's one way of looking at it Freehills.... Here's another way......
The HAECO 2017 Annual Report tells us that young Merlin held 19.75m HAECO shares and a further 15m Preference Shares. Assuming that Swires are buying all the shares, Merlin saw his investment "pop" by $834m on Monday and he will get a cheque from Swires for circa $2.5bn (yes... With a B!!!) early next year.
As any HKPA person will tell you, HK's an expensive place and young Merlin with need every last billion to establish himself in HK. I guess the $2.5bn will take the sting out of any freeze in bonus as a result of the Fuel Hedge debacle.
Lets hope the HKAOA manages to agree some concessions to help the shareholders at this most difficult time
Is this a good time to bitch about 13th month on yammer?