Stolen from a customer site:
A few numbers from recent results:
Shareholder Funds at June 30 $55,365M
Fuel Gambling Losses 2017 YTD $3,237M
2016 $8,656M
2015 $8,474M
2014 $ 911M
TOTAL $21,078M About USD2.7B, B not M
So the total gambling losses represent 38% of current shareholder funds. WOW!
2017 YTD Inflight Services and Expenses $2,417M
And this year they are only willing to spend 75% of their gambling losses taking care of all of us during our flights. No wonder EVERYTHING is being pared back.
And it will continue. They have committed to buy over 50% of their current fuel purchase volumes for the balance of 2017 for Brent at $90/Bbl, and over 45% of estimated 2018 volumes at $80/Bbl.
If this was not approved by the Directors, they were derelict in their duties. Either way HEADS SHOULD ROLL. And that should start at the very top. Instead they want to recover the losses from passengers and staff. Swire must be ruled by senility.