QF Profit Forecast Increase
Qantas have just announced another increase in it's forecast profit for the year by a further 10%. It will be a bumper year for QF, and by extension, it should also be a bumper year for fellow OneWorld partner Cathay. Watch for further profit forecasts from Cathay.
Despite this happy state of affairs and disregarding the tight market worldwide for pilots, Cathay still seek to recruit New Joiner aircrew from 2008 onwards on less pay than that offered to their ccounterparts for the same job in 2007. Unbelievable but true.
Maybe this thread should be changed from 'How many are leaving CX?' to 'How many are actually joining CX?'
And perhaps a related thread could be 'How many are joining CX and then leaving once they realise that the grass this side of the fence is a little parched?' I know of at least one guy who was almost checked out to line after taking a direct-entry FO slot based in SYD. He decided he'd take a Qantas SO slot in preference. Bear in mind that this individual was recruited on the 2007 deal, not the inferior deal that New Joiners will be presented with in 2008. How much did that cost the Company in wasted training? How does the Company expect to recruit pilots on less pay than this guy kissed off?
In times gone by, the Company used to publicise the names of those retiring or leaving the Company, but for some years now it has failed to do so. Forums such as this are the only avenue open to publication of those who have left.
In my opinion, once the pendulum has swung through a certain arc, it may be impossible to stop the momentum. Measures that the Company may take in future to arrest the outflow may be too late in coming.
Some believe that even the payrise given to our Dragon colleagues will not stem the flow now that the levee has been breached - there are many other fundamental issues yet to be addressed.
Will the same happen at Cathay?