I haven't heard any rumblings of a massive downsizing of the 777 fleet. It would make no sense anyway. Increasing our per unit cost by having LESS aircraft is just plain (plane? ;-) stupid.
If you look at past Annual reports (incl 2021 interim) you will see that we have been planning to return 21 leased 777ERs over several years. Originally we were supposed to be replacing them with 21 777-9 from 2021onwards but obviously that has been delayed (fortuitously). So we will be down 10-30% on 777 numbers for a year or three until we get those deliveries.
If you look at the increase in the 747 fleet I suspect that was partially to mitigate the complaints of over work prior to covid, desperation to ensure maximum pilot numbers to ensure maximum utilisation of freighter a/c, and maybe some foresight that based 747 pilots might be leaving our company. So an increase in around 130 in Hong Kong would be offset by many leaving from bases. And there is much anecdotal evidence that many are happy to go to the 747 to get the type rating (and get current) before leaving for greener pastures over the next year or two.
Currently it makes sense to 'rob Peter to pay Paul' with Peter obviously being the 777. But as I have indicated over several posts, we are going to be MASSIVELY short of pilots if we keep all the aircraft in a post lockdown world.
If it made sense to fire 100s if not 1000s they would have done so. They know enough to know that it takes a long time to grow your numbers. So a cheaper way to do it if you have enough work for 50% is to pay everyone 50% so that you keep the total number constant and yet pay 50% of your original salary bill.
Fear is the issue.
As FDR said - "you have nothing to fear but fear itself". Waiting outside the principal's office, or the dentist waiting room, is far more stressful than what occurs inside.
(note - good job with the current stats Posterizing)