FFS
I am sorry good readers of pprune.... I chose the title of this thread incorrectly, it seems the HKAOA lost the plot some time ago. Apparently the GC thought the following was a good deal.
- I get to work 1/52 or 2% more and AFTLS 900 hour protection is increased and I sacrifice 20% of my earnings.
- Assuming a 5 year period, I will be earning about 20% less in year 5. (10% less in increments, 3% less in PFund and 7% less in HDP/EFP)
- I would have to move out of my house.
- I would gain some satisfaction that my colleagues on HKPA would get an increase, however their overall earnings would drop because they too would be down 20% in pay.
- The best industrial leverage we had for a generation would evaporate for absolutely no return.
In return, I would get a vague promise from a bunch of rogues with a rich history of reneging on deals (written or not) that they might;
- Return my investment.
- embrace Fleet Transfer by Seniority.
- Offer part-time work (if I could afford it!).
A couple of notes for the GC.
1. EBIT is Earning Before Interest and Tax. I think you mean EBITDA. But which ever one you use, payments to Swire and Air China are all included in EBIT and EBITDA. Basically, it's the same old manipulated numbers.
2. If you think I have my head in the sand, you are incorrect, I am really in the prone firing position ready to defend my home, 20% of my earning and my 6 weeks leave, that I firmly believe I should not be sacrificing because someone recklessly gambled on the fuel markets.
Now, those on the GC that got elected to negotiate concessions on my behalf please step forward and identify yourselves. I only voted for people who stood to protect and enhance my COS (which was all of you!).