View Full Version : HKA vs CX
Freehills
9th Sep 2014, 13:00
HKA prospectus is out.
Some interesting data
- profit margin much higher than CX
- top 5 paid staff get 11m HKD in all renumeration between them. That's about one CX director
- HKA top management all have addresses in Tung Chung, not the Peak
Hmm, if CX need to know how to cut costs, maybe they should take a look...
pilotchute
9th Sep 2014, 13:08
I remember seeing the CEO of JAL taking the bus to work and awarding himself a salary of a mid level exec. He said it doesn't set a good example if I am drawing a huge salary when the airline is coming out of bankruptcy.
That's leadership.
raven11
9th Sep 2014, 14:17
Sydneyman
And who do you think is babysitting those 150 hour "pilots"...?
I'm just saying...
Ba, Lufthansa, Klm, and many other airlines have been doing the cadet thing for decades. Nothing new there.
Freehills
9th Sep 2014, 14:48
Their CEO makes 2m HKD all in. Time for CX to outsource all the expensive swire directors to the mainland instead? Market forces after all...
pilotchute
9th Sep 2014, 15:03
Oasis,
BA and KLM etc don't just take cadets. Ex military and self improvers are also taken. That's a good mix of experience. CX right now are sourcing all new hires from the FTA ab initio program.
That's not a good mix of experience.
SloppyJoe
9th Sep 2014, 15:20
A BA cadet will probably go onto the 320, flies many many sectors with very experienced captains, spends 10+ years doing this.
CX takes a cadet, lets them watch for 4 years then puts them on a 777, maybe 4 landings a month with captains who no longer give a s**t due to low morale.
It honestly is insanity.
White None
9th Sep 2014, 15:24
4 landings a monthDream On......!
Algol
11th Sep 2014, 01:03
HKA is due to launch IPO later this year.
All those managers will get huge tranches of share options as part of the launch.
They're doing very well, don't worry.
VR-HFX
11th Sep 2014, 09:32
.... and the CEO of Qantas, Elaine Joyce, who speaks no known language, makes more than the combined salaries of the CEO's of CX, SQ and NZ. Not sure that tells us too much other than QF is heading for Rookwood and HKA runs a sweatshop with staff turnover that is costing them millions.
As to the IPO....not sure which esteemed financial institution is charged with putting lipstick on the pig, spiking the float, and then pulling all their chips off the table, but whomever it is, they ain'y going to see any of my devalued HKD.
The prospectus is a master work of fiction, as befits an outfit (read large island in the south of the country) that is at least a year behind on paying landing fees in China. Given the amount of their kit that sits around CLK, there is no way they are in a position to do a kosher IPO.
FWIW
clear.right
11th Sep 2014, 15:49
Freehills
Make sure you get in on the IPO!
Higher profit margin than CX sounds like the deal of a lifetime!
BTW, you interested in a bridge?