Originally Posted by
Apple Tree Yard
... It is obvious that CX is desperately stonewalling in hopes of some economic shock, that they can then use to justify paying nothing. That seems to be their (only) strategy. My two FO's on this weeks long haul were both leaving imminently, so the message has well and truly got through. CX is toast.
They are not hoping for that since that would affect revenue and bonuses. Probably has more to do with simple human procrastination to deal with a tough issue.
I do have a question for all those predicting hard times for CX ahead. If you go read a lot of the investor analysis for Cathay you will see very little in the way of talk about industrial relations. Most of the reports I have read usually refer to the hedging, overall costs, HKA competition, Mainland competition, etc. The small amount of mention about employee relations are often in reference to their long-term restructuring program to trim costs (i.e. cut direct labor costs). Obviously it's a different story from the pilots working there. I am very curious what some of you guys think about this discrepancy between those "in the trenches" and the financial analysts that measure or predict company performance.