At the board of directors level they're even too afraid of hk government's possible reaction to basing crews overseas to avoid and get around restrictions which are choking this airline to death. This is the real reason why they haven't done this to keep the operation going much more smoothly than the current sh!t show. The reason given by management for this which was literally "BUT ITS TOO HARD TO BASE 747 CREW OVERSEAS..." is laughable and bullsh!t.
Relocating the company is a much more severe decision to make and execute and could mean losing their traffic rights as a reaction from hk government which is being told what to do by Beijing btw. None of these people in charge of any govermnet department are there because of anything except being handpicked by Beijing to do what they're told. And they're all doing what they're told. Not that thinking, reason and logic has ever been in their mental toolkit anyway.