Gentleman,
New deal 35,000HKD pegged to actual rents in Govt index
Legally binding deal for 4 yrs, stability
If you buy can lock in at 38,000 for the next 15yrs or gamble on rents rising (sure bet in my mind) F/Os and Capt . The basic deal
for a s/o or LEP has not changed.
New joiners after march have a restriction that if they buy then you cannot go back and enjoy the rental rate for captains (55,000) but the rent free zone (35000).
As it will take at least 10yrs for a new joiner to become a capt
and in nego with company why would the union be so insistent on something that HAS NO consequence at all for at least 10YRS!!
For interest dragon air have a ownership deal 44,000 pm but once finished you go back to the basic 24,000pm?
Anyway the big point is if you are looking at being in Hong Kong for longer than 5 years this is a great deal, if your view is short term than it is not that good. However as a union they must try and get the best deal that is available and I think they have done that.
However it is now up to the membership to decide and vote on this, simple yes or no. As they say the ball is now in the members court?
There is also a big difference between management and union comm members. One is doing it for extra money the other is only interested in getting the best conditions, contract stability they can. You also might try and think NO ONE gets paid in the HKAOA except the office staff, it is all volunteers giving their own time and sweat.