ASL Profit Share

[grand slam]

Just heard some news that caused me to smile, or was it a smirk. ASL crews who did not sign over have not received the interim 3 week profit share. CX management are not all bad.

[ASLr]

GS, I understand your sentiments, but I think you are missing the point. Do you want non-Cathay pilots flying Cathay airframes? Do you think keeping the pilot groups at each others throat is going to help your cause or managements? And who started ASL, anyway? The smucks flying the freighters or the boys in the Ivory Tower? Smile, smirk. I think I'd just be shaking my head in amazement, wondering how many more freightdogs go out sick with new planes arriving and no one to fly them.

[CATHAY PATHETIC]

Of course they didn't receive any profit share. "There's no money in freight!" :)

[happyldg]

Just heard that the company is giving the ASL officers a 2 weeks profit sharing in November. Is that true??

[amused]

I heard it was 20 weeks!

[endo]

Well of course they didn't get the 3 weeks profit share. - ASL employees are just that, (they don't work for Cathay) therefore they are not entitled to it. Simple really.

They will, however, be receiving 3 months profit share from their own employer, (ASL) in the new year.

You boys! honestly.

Debs.............

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- in motion

[Liam Gallagher]

Endo,

So the guys employed by Veta didn't get profit share either.

err... Simple really,

You girls!!???

[endo]

Now don't be silly Liam - we all know the Veta crew are employed by Cathay, the same as USAB.

Being picky is petty!

Debs............

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- in motion

[Jumper]

Actually, for an FO in VETA Freighters, taking into account the 20-30% drop in allowance income since coming off duty pay( GERA, the 3 weeks profit share of around £2400 just about compensates for the annual loss in income (l2-15% less if tax on bonus taken into account- GERA tax free).This calc. done on actaul comparisons over 7 months and using a drop of 2-3 k pm ie HK$2500 times 11 months (1 month leave).

On target bonus is 2 months, thus 5 weeks to come next April. This equals just $46,000. Now as ASL got $50k last Jan and could hardly get less Jan 2001 due higher profits and smaller group to share them, who do you thing is going to better off overall (and sooner- in Jan!!) Sure, if VETA get 3 months they will be doing better than last year, but I'm sure CX will ensure ASL get a handsome increase over last year!

[Liam Gallagher]

Endo,

I don't think I am being silly, picky or petty, perhaps just a bit too subtle.

Yes, Veta, USAB are all subsidiaries of Cathay; as is ASL. I readily concede that ASL has as a minority shareholder, Air Hong Kong. However, it is worth noting that AHK is majority owned by CPA or parties friendly to it. Be in no doubt ASL is a Cathay company, for if you screw up you will find yourself standing on Cathay carpet explaining your actions, not ASL carpet!

But in any event, it's irrelevant to this argument, as this is all about the old trade-off between renumeration as per contract vs additional, ex gratia, payments to reward/ motivate your staff. Cathay has chosen the former at the risk of the later.

Liam G.

PS: Your first name isn't Innu per chance. If so, were you named after an Italian supository?