The company's saying things are tough. 85% load factors mean nothing if the yields aren't there. The company knows this, the analysts know this, the market knows this.
But the pilots can't figure it out.
Some think the company is making billions and hiding it all away in a big shed out in Kowloon Tong. And yet there is a degree of transparency required of the market to keep investors happy. That's why a company will provide profit warnings, so the market is never surprised where a company financials are at.
Does any of this make any sense?
Share price is down at $12 because of all this and other factors including our contract compliance. If the share price drops low enough and we get taken over by the likes of Air China then crying to mummy about 3 man LHR will be the least of your worries.
Which is why I'm guessing the company is under enormous pressure to sort things. And historically (the last 50 yrs anyway) they sort things as they see fit.