PPRuNe Forums - View Single Post - No real need for concessions
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Old 22nd May 2020, 22:38
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Join Date: Mar 2015
Location: HKG
Posts: 171
No real need for concessions

At the end of March the company reported it had 20 billon HKD in liquidity. The sale of the 777s gained another 5.5 billon HKD. The company also reported it could easily call on more liquidity. More recently Qatar has said it would happily provide additional funds (for a bigger slice).

We do not need to make concessions. Aircrew salaries are only 9% of the direct operating costs according to Airbus (they also say fuel is 40% - but for CX at times it probably closer to 80% considering our masters' fuel hedging).

If we do make concessions they should only last as long as the current slump in demand.

If they try to force us onto POS18 it will be the end of us. The POS18 documents are available on IntraxCX. Take a look (search for COS18 and navigate to the web page with the Handbook and COS documents). I knew COS18 was a POS, but I can't believe just how bad it is. Those who have signed up for it must have been really desperate.
controlledrest is offline