Oasis-
Respectfully,
I would urge you to look at the difference between our operating profit and our net profit. You will see that the fuel surcharge becomes relevant. When fuel cost goes up, CX goes to the government and requests (and always seems to get approved) an additional fuel surcharge. Since this surcharge is recorded in the net profit side, but the fuel cost increase is recorded in the operating loss/profit side you can see why we posted a large operating loss last year and a tiny operating profit this year.
Based on the above, we are doing well and this is a good time to ask for a payrise. I know our executive team certainly has received greater compensation as have our local Hong Kong staffers. Why should we be left out?
Here is a link to show just how much impact rising fuel prices have had on the airline industry.
IATA - Fuel
I do agree that if CX were not getting fuel surcharge relief from the Hong Kong government, we would be having a different conversation.