Back on topic.
The DFO says there is only so much in the pot for his bonus, and that we should believe him.
Apparently, the company is ok with 6/4/4 across the board, with an additional 50% HDP (15% total) beginning Jan 1 2015. If the company makes a total profit of more than $8 Billion HKD for this year on they have also conceded they will pay at least 1 month profit share; and anything over 13 Billion, at least 2 months. Not quite good enough, but at least they are budging. Only because they have to in order to retain pilots who give a crap.
The profit this year is set to be huge, so upper mgt is keen to have the pilot contract behind them by March 2015. They could care less about Christmas.
In other news,some of the aircraft leases that are leased from 3rd parties have some interesting financing arrangements. Mark to market is not fair value but mgts implied value.... The numbers are cooked, so that other related entities profit (ex directors, air china, and Swire pacific, Bermuda, BVI, etc). Tell me something I didn't know. Check the finance plates on the aircraft and that will have you scratching your head.
Finally, SK and AT are having an internal battle over who is really in charge. Apparently, SK is very arrogant.