Cameltoad,
This is the exact wording from the first page of the so called "contract".
The Conditions of Service (April 2012), which form Part 1 of this Employment Manual and your Letter of Employment, set out the detailed terms and conditions of your employment. Significant changes to Part 1, which will affect your employment rights, will only be made with your consent.
The Company Policies set out in Part 2 of the Employment Manual may be amended, added to or withdrawn by the Company at its sole discretion. Such Company Policies are for your information only. They do not confer contractual rights on you.
And for your information, Excess Flying Pay, Child Education Allowance, Medical Benefit....etc. comes under Part 2 which means....THE COMPANY MAY AMENDED, ADDED TO OR WITHDRAWN AT IT'S SOLE DISCRETION!!!! So you can guarantee when the shxt hits the floor, that will be the first thing the company comes after.
To answer your question regarding to upgrades, you can expect at least 10 years to command IF there's any expansion in KA. The average age for captains are around 45-50. The retirement age is 65. And most of the FOs joined before 2008 have their 5000hrs and waiting for command. You'd probably be better off to join HKA. Although the money is around 10% lower than KA,;however the command is much quicker, they have a huge expansion plan, going long haul and most importantly, everyone is on the same package.
Hope the info helps.