CX is a case study in how most companies fail

[jetjockey696]

Cathay Pacific is a case study in how most companies fail in the long run ? if they don?t change | South China Morning Post (http://www.scmp.com/business/companies/article/2136745/cathay-pacific-case-study-how-most-companies-fail-long-run-if)

[Dee Vee]

Cathay Pacific is a case study in how most companies fail in the long run ? if they don?t change South China Morning Post

The author of that article might be surprised to learn a significant number of people are more interested in service and comfort than price.

[Freehills]

Cathay Pacific is a case study in how most companies fail in the long run ? if they don?t change | South China Morning Post (http://www.scmp.com/business/companies/article/2136745/cathay-pacific-case-study-how-most-companies-fail-long-run-if)

Yep - in terms of what people actually want, HKA/HKE have it right I think. 3* for long haul, 1* short haul.

[azhkman]

Yep - in terms of what people actually want, HKA/HKE have it right I think. 3* for long haul, 1* short haul.

It's fairly true. All HKA is really missing for longhaul is Wi-Fi (I speak from my YVR r/t over Christmas), and a more thorough selection on IFE. Otherwise, the service is decent in Business Class (lie-flat seat, they even had a stand-up bar, attentive service, etc...). It's not CX, but the price difference was HK$31k r/t on CX and AC, or HK$21k on HX.

[Flex88]

From the article, straight to the guts of the problem.

"operates like a traditional, Hong Kong Chinese family- except it has successfully augmented family managers with an extended family of carefully recruited, long term career managers. This may work in certain industries where dominance is more predictably entrenched, like property development or sugar refining, but in a chaotically competitive industry increasingly influenced by state players and budget airlines, talented and ruthless innovation and decision making are needed more than family loyalty. Change isn’t pretty. (and some can't hack it !!)

[valhalla634]

Yet the share price is soaring! Don’t these investors know that the sky is falling?

[Freehills]

https://www.bloomberg.com/news/articles/2018-03-05/cathay-pacific-s-hogg-has-parts-to-fix-and-these-charts-show-why

Looks like results will be better than last year thanks to lower hedging loss. But still a loss. Winning!

[Flex88]

https://www.bloomberg.com/news/articles/2018-03-05/cathay-pacific-s-hogg-has-parts-to-fix-and-these-charts-show-why

Looks like results will be better than last year thanks to lower hedging loss. But still a loss. Winning!

From the article, competition, "Hedging" & "Bloated Employee Costs" reasons for poor performance, funny though, not even a single mention of garbage managers brought in from boat place in Borneo or Coke bottling plant in some other part of the world.
Simple fix, fire an additional 800 staff until that pesky revenue/employee number get's to where they want it - problem solved. Easy. Even the boat guy from Borneo can figure that out.

And now we're in the "Bloated Workforce" column on the spreadsheet.. The Hogman has such a nice way of talking about his employees. Please, tell us how you feel and don't hold back.

[Oasis]

Makes you wonder why he's a former international banker.

[BlunderBus]

The American gurus don’t like it either...
“Cathay Pacific Airways has Price to Book of 1.00 times, we suggest you validate Cathay Pacific Airways Limited market performance and probability of bankruptcy to make sure the company can sustain itself in the current economic cycle given your prevailing risk tolerance and investing horizon.”

[mr did]

The reason Cathay are in this ridiculous mess is BECAUSE of these idiot analysts and the unfortunate tendency of our board to follow their meaningless ratios and metrics. Plus the modern day scourge of companies everywhere: the finance department (accountants) and the HR dumb asses (yes you Nick) who have taken control.

If Rupert wants to fix any of this, he needs to use his own brain and common sense. Unfortunately common sense isn't very common with our lot.

[cxorcist]

Yet the share price is soaring! Don’t these investors know that the sky is falling?

“Soaring” all the way to what? $1.75 USD! Please, the market cap is a mere fraction of what it was 5-10 years ago. Massive amounts of cash have come off the balance sheet as a direct result of upside down fuel and currency hedges.

The (mis-) management has made an absolute mess of the airline, and then they predictably blame employee costs and a challenging revenue environment. Quite literally, the airline would be far better off if the “Management” had just done nothing, which they finally realized and are currently “doing” now that action is required to fix the mess. You just can’t make this stuff up. The current lot of Swire managers are clowns in suits, and they have turned our airline into a circus. Well done :D

[Trafalgar]

CX is an insult to the word 'circus'. Most circus's consist of highly trained employees and adept management. Our airline has devolved into something unrecognisable from 25 years ago. It's now a collection of assets that have no idea how to integrate for maximum efficiency, and a management who have myopically focused on attacking one small part of the whole (the pilots), ironically the very part that has the ability to ensure that the overall airline is operated and overseen in an efficient, safe and reliable manner. When you deliberately insult and devalue the people who make the operational COST decisions EVERY DAY, you can absolutely ensure that you have lost the ability to control your costs,never mind the reputational value of your airline. This management has turned me (and every other Captain I know) into someone who now looks at every COST decision we have to make in a much different light than was the case 20 years ago. Now, EVERY decision we make almost assuredly results in an outcome that is the opposite to what we chose in years past. Multiply that by EVERY CAPTAIN, EVERY FLIGHT, EVERY DAY. You looked a bit weathered and worn in that photo RH, and soon, when most of your pilots are leaving in droves, you can add to those lines on your forehead. Unless there is a complete break with the attitudes and behaviour of our management, this situation will end up with CX flat on it's back, with no pilots, and the ones who do stay not caring. What large corporation can survive with those metrics? And all utterly avoidable.

Well, have to run, time to pay the rest of my tax bill. Now, where's that 13th month cash that should be lying around here somewhere.... :mad: (which has cost the company that amount and much more already by mid March, with a whole 3/4 of the year left to go...and that only from fuel decisions, no directs, configuring a bit early...I could go on. I work it out every flight what each 'legitimate and justifiable' decision costs. You would be surprised RH just how a petty and vindictive decision in December will cost the same as multiplying the amount by a factor of 10 by the time this year has come and gone, and that's just ONE Captain, never mind the other 1000 of us. Well done :D. Lesson: don't :mad: with us). You have managed to take very dedicated and accomplished professionals and turned every single one of us implacably against you and your management. You can begin to fix this by getting rid of the incompetent members of your senior staff, and no guesses as to where that needs to start. You have lost this entire group, and to even begin to get us back onside will take a herculean effort. Perhaps you might want to get started before there aren't any pilots left to care (anyone calculating the cost to replace and retrain the hundreds (probably over a 1000+) of pilots you are about to lose, all unnecessarily?). Tick tock tick tock...

[DropKnee]

My experience has been to continue to watch Captains fix CX problems from the cockpit and heroes show up with red lanyards. Just had a hero save a west coast flight. And he was not based.
Never going to win this way.

[TheGreenDragon]

And if CX did fail , alot of pilots with families would be stranded, in high cost schools , big debt mortgages.
Its no fun being made redundant , be careful what you wish for. Even if you think you are invincble , the world has moved on .

Loco’s don’t employ many pilots over the age of 40-45, even as DEC. CX ain’t that bad, but its close ;)

[Trafalgar]

Most of us really don't care anymore. The majority are planning to leave, with hundreds already having interviewed elsewhere over the past 6 months, and awaiting their course dates. CX is toxic, and has lost the trust and concern of their employees. We are entering the largest hiring boom in aviation history. Explain why anyone would condemn they and their families to living in substandard accommodation, below standard wages (especially considering the cost of living in HK), and a management that is capricious, vindictive, irrational and venal? There are better options just about anywhere else. Hence, the great exodus has begun. No matter what CX management says now, the trust is gone and no one with any sense will risk their career potential of the security of their families on a management proven to relentlessly attack their conditions of service. The last person to leave will hopefully turn out the lights...

[Trafalgar]

The article suggests CX's business model is unsustainable. I think the evidence is in that in fact that is accurate. The tragedy is that the management are myopic and delusional, feeling that somehow attacking their staff will solve their problems. I would argue that it will make the problem worse, much worse. You only have to see how the situation has driven hundreds of pilots to make plans to leave (and many have already left). The cost to the airline's operational integrity is already being felt, and the replacement training costs are ramping up exponentially, far in excess of any 'savings' they had planned on. The problem isn't staff costs (US carriers, QF, others manage to record record profits with much higher average staff costs and higher tax environments), but an inept, inbred and nepotistic senior management mentality that no longer is suited to such a dynamic and ruthless industry. Instead of focusing on expanding and dominating HK, they focused inwards on their staff, in an almost paranoid and myopic fashion. In doing so, they completely missed the rapid growth and entrenchment of serious competitors (HKA and HKE), who have now accumulated so many slots in HK that CX can't expand, and thereby have lost control of the local market. Without expansion, they are doomed, as the extremely low cost carriers in HK, and outside competition will erode and suffocate them, as is in fact now happening.

The most valuable asset they have are their (now lost) once dedicated employees. They held the secret to eventual success (and in fact did provide the foundation of the company's previous success). Now, you have your own employees quietly and deliberately undermining you from the inside out. They don't care anymore, as they have other viable career options. You have alienated the senior staff (epic own goal with the 13th month decision, resulting in every Captain now working against you, every flight), disillusioned the middle ranks who have concluded that they must establish a career elsewhere (HKPA, and it's woeful lifestyle liability for the employee and family as just one reason amongst many), and additionally management have undermined the safety and reputational status of the airline, which is now starting to be established in the press and the general mindset of the HK traveling public. It is a tragic and noteworthy case of business failure. It is doubtful that CX can be saved now. The exodus of skilled staff is probably now unstoppable, particularly when the realisation of the death of CX becomes unassailable. Further, the sheer cost of training woefully inexperienced replacements will cripple the budget of the airline, and never overcome the ever decreasing levels of experience and safety inherent in CX's traditional demographic. In fact, those costs will far outweigh the supposed cost of the ARAPA staff and other higher cost employees (and without expanding bases, don't bleat to us how high our 'costs' are).

The "death spiral" has begun (long predicted), and it is probably too late. Particularly in light of the fact that the HK Govt is fed up with CX, foreign competitors are attacking and the local competition is now of a size and power that will be almost impossible to counter. CX is dead. Rather like the "Walking Dead", there may be physical movement, but in fact it is already too late to save. Eventually we will be reading articles that describe either a sudden collapse, or at best a takeover or break-up. Ironically, the only thing that may survive is the freighter network ("no money in freight"!!). It really doesn't matter. The only thing of any importance to an individual is their own career and the security of their families, and that now clearly lies elsewhere with a different airline.

Ironically, the last best chance of saving CX is for the Swires to go to the HKAOA and offer a proper package to their pilots. Respectful, unambiguous, legally enforceable, that provides security of housing, salaries, rostering, seniority and fleet transfer (you know, all the things that most other airlines provide). Sadly, our management, the ones who got us into this mess are the least capable of seeing that that is what it will take (at a minimum) to get things turned around (oh, while your are at it RH, install a DFO we can respect, who actually knows the first thing about aviation, and doesn't quote mass murderers in her weekly newsletters). Without your technical staff working WITH you instead of AGAINST you on every flight every day, no management 'strategy' will be successful. If you don't come to the table with such an offer, you will find that nearly every pilot in this company will not be worrying about CX and her "legacy". They will safely watch the destruction of this once great airline from a distance. It is over.

(final observation: if you p*ss away almost a BILLION usd in mindless fuel hedge gambling, there is very little the staff can do to help, but we can make it MUCH worse if you goad us too far...and that is what you have done. You can start by paying the 13th month into my account)

[morningcoffee]

So you’re all saying HKA is wonderful because their fares are cheaper and they pay their pilots about 60% of what a B scaler earns. But you want to keep getting paid what you’re on now. And no one can live in Hong Kong on what C scalers get paid but there’s HKA again paying C scale pay.
There is absolutely no logic to the pay us more argument if you’re going to drag HKA into it.
Can you provide figures to support the apparent facts that QF pay better. Haven’t seen any based guys quitting CX to go to QF. CX Australian Payscales are based in part on what QF pays. Enlighten me.

Big thanks to the based guy’s using their legal leverage to force their version of CMP onto the hkg base. 👍

[Trafalgar]

MorningCoffee. A bit early to be in your management cubicle. I won't enter the debate (the analogy of pigs and mud...), just to say that you missed the comment in the middle of my post, you know, the bit about other airlines paying their pilots more, with better T and C's, and in higher tax environments. Oh, and btw, they have to deal with low cost competition as well...hmm, they seem to be doing very well. Seems the only real difference is that CX obviously has hopeless management, who can't run a child's train set more less an airline. Sorry to let facts get in the way of your obsession to just cut the terms of your pilots. Don't worry, soon you won't have any so the whole issue will be moot. Now, back to your cubicle dwelling.

[morningcoffee]

Jetstar in Australia is owned by QF so they own the low cost competition. (VB aside). If you read the terms and endearments forum you’ll see that if you spreadsheet a career at BA vs a loco you earn more career wise at the loco. In 2018.
You’re living in 1975.

[cxorcist]

Jetstar in Australia is owned by QF so they own the low cost competition. (VB aside). If you read the terms and endearments forum you’ll see that if you spreadsheet a career at BA vs a loco you earn more career wise at the loco. In 2018.
You’re living in 1975.

And where are you living MC? The Swire coke bottling factory?

As for career earnings, there is more to a career than money. Quality of life is obtained within a proper seniority system with roster bidding, proper work rules (RPs), fleet transfers, trip drop and pickup, etc. CX has none of that and probably will never have it because the clowns running things don’t have the capability or the knowledge required to get it done.

[Trafalgar]

And if you fly for a loco in the UK....you are living in the UK. Not in HK with the worlds highest cost of living. You are the one living in 1975. Why don't you save what's left of your reputation and leave CX management. They (and everyone associated) will one day be used as a business case study on how to destroy a once healthy and thriving airline. Must be good to know you are striving to contribute your own little piece of happiness to that outcome. The pilots of the airline at least accomplish something honourable. You and your ilk have no redeeming qualities in what you do.

ps: I love the attempt to suggest that really working for LCC wages is better. We should do that here at CX....oh, wait.

[Trafalgar]

....and btw MC, CX could have 'owned' the HK low cost operation, but they focused on attacking their aircrew the past 25 years instead of starting a viable low cost carrier, and allowed their hold on HK to be stripped away. Epic own goal.

[Trafalgar]

Face it. Swire management is wholly unsuited to running an airline. They only succeeded in the past because of the monopoly they held in HK. Now that that is no longer the case, they have been stripped naked and found out to be the incompetent bunglers they probably always were.

[raven11]

“You’re living in 1975.” ....Says Morningcoffee....the guy/gal living in 1875.

It is laughable to suggest a pilot would earn more money working for a loco versus a career at BA? Such jaw dropping statements usually come from the mouths of such brilliant aviation thinkers like Michael O’Leary. Indeed, in that business model an imposed pay cut would equate to more money in your pay packet, less conditions of service are better than more, imposed RPs better than negotiated RPs, inexperience better than experience, up is really down, black is really white....and hedged fuel costs are the way of the future....

MorningCoffee, please do go on. Tell us that the AOA are the bad guys...please enlighten us with your brilliant analysis.

[Farman Biplane]

MourningCafe,
CX/Swire scored an epic own goal by not establishing and growing a LCC in HK. Instead they sat back and said it would never work in HK. Then they burnt cash and effort to actively oppose and destroy such ventures as Oasis and J*HK. Meanwhile HKA/HKE flourished as the Swire boys were distracted and so arrogant to believe they were the big boys in town. Sizing yourself up against HNA and the Beijing CCP boys is not a wise thing to do, the colonial days are long gone.
Also, the Aust based guys are not joining Aust airlines because of seniority, a concept that CX/Swire has ignored and morphed to their advantage.

[Freehills]

So you’re all saying HKA is wonderful because their fares are cheaper and they pay their pilots about 60% of what a B scaler earns. But you want to keep getting paid what you’re on now. And no one can live in Hong Kong on what C scalers get paid but there’s HKA again paying C scale pay.
There is absolutely no logic to the pay us more argument if you’re going to drag HKA into it.


It is possible for both statements to be true.

HKA fills "value for money" niche & pays less
Airlines in the US/ OZ/ EU have coped by 'unbundling' & being clever about selling extras, allowing them to still pay decent salaries. Basically taking account of the human behavior that people will nickel & dime when buying something in advance/ with research, but will impulse buy at high price - i.e. an overpriced coffee at the airport. So bait people in with low basic prices, then make the margin on selling stuff to make the trip bearable when the customer can no longer switch.

[Trafalgar]

It is possible for both statements to be true.

HKA fills "value for money" niche & pays less
Airlines in the US/ OZ/ EU have coped by 'unbundling' & being clever about selling extras, allowing them to still pay decent salaries. Basically taking account of the human behavior that people will nickel & dime when buying something in advance/ with research, but will impulse buy at high price - i.e. an overpriced coffee at the airport. So bait people in with low basic prices, then make the margin on selling stuff to make the trip bearable when the customer can no longer switch.

Ironically, that is what CX does to their staff, but in reverse. They bait naive and ignorant youngsters to HK with the carrot of the 'shiny jet syndrome' then nickle and dime the value of their career downwards year after year. It's amazing to me how they expend enormous amounts of energy attacking and harming their own staff instead of concentrating on building real revenues and profits, like our erstwhile competitors are doing in the US, Aus and other areas of the world. Again, proof that this management is not fit for purpose. :ugh:

[Freehills]

And HAECO lost money

not even competent at siphoning money out of Cathay

[Trafalgar]

The annual results will prove this airline is doomed. The management will have convinced themselves the only answer is to attack their staff, which of course will ensure even more internal chaos and a continuation of the death spiral we are now trapped in. To anyone 47ish or younger. Get away as far and as fast as you can. What remains of your career potential depends on it. Doubt me? Stay here and then try and argue that fact through the tears you and your family assuredly will be weeping. Make the break and don't look back. It's over.

[Rated De]

Having seen it first hand all these 'managers' are spoon fed the same drivel at a number of 'business schools'

You run an airline like you run a biscuit factory: every process broken into cost elements, no intrinsic knowledge of how it all fits together and does what ti does...Just focus on the cost and reduce it! KPI are set to solidify this process and it becomes a death spiral.

[Freehills]

Yeah - there seems to be a number of people who believe CX management are evil geniuses, pulling insanely profitable scams via fuel hedging/ sister companies. I can see that that is more comforting than the belief that they are incompetents out of their depth, because evil geniuses could, if they so desired, recover the situation.

Basically, what's more likely, our managers cocked up, or are part of a complex conspiracy? I wish they had the competence to be part of a complex conspiracy, but fear they are dunderheads

[Flex88]

And HAECO lost money

not even competent at siphoning money out of Cathay

Don't forget the hidden "HAECO Americas" which is fingered to build & supply seats for the A50 - 1000

Can you hear that sucking sound?

You have to be nimble to watch where the money goes...

[Freehills]

Yep - but not very well hidden. HAECO Americas lost 1,483m HKD (see page 4 of the results)

I still reckon - cockup, not conspiracy. HAECO Americas just shows that operating in the first world, with strong competition, without captive customers is tough for them. The review says they lost "a major customer" in 2017 and 14% of US staff

[Oasis]

Yeah - there seems to be a number of people who believe CX management are evil geniuses, pulling insanely profitable scams via fuel hedging/ sister companies. I can see that that is more comforting than the belief that they are incompetents out of their depth, because evil geniuses could, if they so desired, recover the situation.

Basically, what's more likely, our managers cocked up, or are part of a complex conspiracy? I wish they had the competence to be part of a complex conspiracy, but fear they are dunderheads

"Never attribute to malice that which is adequately explained by stupidity."

- Michael Scott

[Bangaluru]

"Never attribute to malice that which is adequately explained by stupidity."

- Michael Scott

Freehills and Oasis: Indeed. This has been proved beyond any doubt in the last 18 months. We read situations and adapt and come up with solutions and prioritise and keep the show running. They just blindly plough on using pre-learned responses and solutions and think that is the way to respond to the world and only they know it.

The conceit and arrogance is stunning. Especially in light of the fact that they have proved they have no idea what they're doing.

[krismiler]

Loco means lower pay but quicker upgrade. If young you're better off in a legacy airline as you will have more years in the left seat on captains pay to break even and then get ahead vs an earlier upgrade but lower left seat pay in a loco.

For an older joiner, a loco will be a better bet because of the limited number of captain years he will do in a legacy after waiting 15 years for an upgrade.

[Threethirty]

I think MorningCoffee is slightly misled. There has been in BA recently a trend of very junior commands on the A320 fleet but this was due to a series of events that are unlikely to be repeated: the merger with BMI and the excess of pilots culminating in the recent DEP hiring process, although the jury is out now on whether more recruitment is desperately needed. This led to some very junior commands hence the pay points were also at a junior level. The money in easyJet is very good on UK bases as a captain but what morningcoffee fails to realise is that the job is impossible long term and hence the reason why part time is there if needed. At least in BA you can transfer from a 320 command to a long haul command and enjoy the lifestyle that ensues. 747 being the next junior command now after the minibus.

[Rated De]

The (mis-) management has made an absolute mess of the airline, and then they predictably blame employee costs and a challenging revenue environment. Quite literally, the airline would be far better off if the “Management” had just done nothing, which they finally realized and are currently “doing” now that action is required to fix the mess.
The interesting thing when considering how (w)bankers look at airlines is really the genesis of most of the shocking commentary that passes for analysis.
The consider the 'parts'. Not the whole.

Modern business school practice divides segments/cost centres into segmented units where costs are identified and reduced. Usually tied to performance of individuals 'making decisions'. The thing to remember is that these 'decision makers' know little of how it all fits together, nor do they care; their bonus oftentimes depends on simply turning inwards and hacking at the cost base.

Emphasis on labour unit cost is easy work, hacking into terms and conditions is child's play.

The problem is for an airline a people centric dynamic team sport is obvious; you piss off a lot of people that ultimately when aggregated keep the whole thing going.

Labour costs are a given and the ex (w)banker authoring the article is trained as (w)bankers are. Value propositions are very much relevant, so are operating margins, but to paraphrase (badly) Herb Kelleher from South West airlines:

You can have the lowest cost airline or the highest revenue airline and still go broke. What matters is the gap between your revenue and your cost.

Real airline people understand the reality, you folk there see it everyday.
Herb built it from the ground up, he understands exactly how it all fits together.

The idiots 'in charge' do not self reflect like professional pilots do, their whole working life is about avoidance of accountability for errors. Whether they work at CX or a telecommunications company their job is unchanged; spread sheets and identify cuts.

Thanks Oasis, summed up eloquently my thinking:

"Never attribute to malice that which is adequately explained by stupidity."

- Michael Scott

[cxorcist]

Excellent post Rated De

[kahaha]

I think MorningCoffee is slightly misled.

The elephant in the room regarding the hk pilot community, is that most , like 99% , would be in BA if they could be . But they aren’t. So along comes CX , taking guys with low hours onto wide body.
Ditto KA. But with a lower skill set.

Everyone is interviewing. Looking for new positions, so we are told here. Let me think, how many of our guys ( KA/CX) went to BA?
In KA it was 1. Yes just one pilot out of the 600 plus could pass the BA assessments.
Ok obviously not all applied ‘cos they are ineligible. But the trend is that CX is only bad if you are an older & frustrated type of pilot , lacking in the required emotional intelligence
to successfully move on in the modern era. Not bad , just todays skill sets have changed. As have salaries.

[morningcoffee]

Go look in the terms and endearments thread regarding pilot salaries.

Look at pay scales for Ryanair vs BA.

Look at upgrade times.

Look at spreadsheet of yearly pay. Put in a 40 year career.

I’m not talking about what’s fatiguing, I’m talking about career earnings.

It isn’t actually difficult, but we are talking about 2018. This isn’t BOAC vs Dan Air. Very difficult for some to accept loco don’t pay that badly in 2018. No one pays what they were paying in 1975 in buying power, people might need to accept that and get over it.

Approx 5 passed the interview for BA from CX.

China Southern are offering a commuting contract 23 on 7 off. If you want to talk fatiguing, great money though.

[morningcoffee]

Loco means lower pay but quicker upgrade. If young you're better off in a legacy airline as you will have more years in the left seat on captains pay to break even and then get ahead vs an earlier upgrade but lower left seat pay in a loco.

For an older joiner, a loco will be a better bet because of the limited number of captain years he will do in a legacy after waiting 15 years for an upgrade.

Makes no sense unless you’re earning no return on the what you earned earlier as a loco skipper.

[morningcoffee]

And where are you living MC? The Swire coke bottling factory?

As for career earnings, there is more to a career than money. Quality of life is obtained within a proper seniority system with roster bidding, proper work rules (RPs), fleet transfers, trip drop and pickup, etc. CX has none of that and probably will never have it because the clowns running things don’t have the capability or the knowledge required to get it done.

And yet those on bases just voted to dilute seniority which in turn means those in hkg are on the receiving end since CMP needs to be similar everywhere👍

[cxorcist]

And yet those on bases just voted to dilute seniority which in turn means those in hkg are on the receiving end since CMP needs to be similar everywhere👍

Incorrect. Read my post in the other thread. Seniority has not been diluted. 75/25 is quite seniority honoring. You’ll see...

[1200firm]

There is no PBS for HKG based crew. There is only CMP.

[PCav8or]

Human Capital is a company's most important balance sheet item.....I guess CX management never heard of that.

[cxorcist]

There is no PBS for HKG based crew. There is only CMP.

You need to get your terms right 1200. CMP includes PBS (JCR). Perhaps you mean there is only a pattern optimizer (JCP) in HK.

[Freehills]

6.4 billion fuel hedge loss. Ho hum

[Trafalgar]

Oh, only another $823,000,000 usd loss on fuel. Hmmm, obviously the pilots fault. Seriously, the numbers are like looking at some nations national deficit, not an airlines annual results !! And STILL the same management is in place. Only at CX would that be possible, as the Swire's won't 'fire' themselves, and meanwhile, the airline dies and the career hopes of it's staff. Well done RH. You should be proud. For the rest, get out while you can. CX is finished.