Fair question STW,
I'll answer your question with another question, do you think the Swire owned HAECO competitively tenders for Cathay Dragon's business?
As for solid numbers, it's relatively easy to hide these transactions. However, one they can't hide is the service fee to John Swire & Sons Ltd which can be seen in the Annual Report (para 27 page 91). It's set at reimbursement of costs plus 2.5% of profits. So in a year the Swire Managers lost us $8bn in Fuel Hedging and ensured a loss, they didn't take their 2.5%. They did however take $241m in reimbursed costs. Looking at the accounts, it seems Anna Thompson's and the other Swire Directors salaries are paid by Cathay, so this looks like "costs" additional to salaries. These are of course in addition to dividends payable to JSSS.
So, if the Company wants to save $500m per year, I can see an easy way to save $241m.... Job half done.
All these concessions you want us to give, JSSS takes 2.5% out of every dollar conceded. Doesn't that make interested based bargaining, rather interesting?