View Full Version : HNA Group sues Hong Kong Airlines for HK$850 million
jetjockey696
31st Dec 2018, 15:15
https://www.scmp.com/news/hong-kong/transport/article/2180140/hna-group-sues-company-linked-subsidiary-hong-kong-airlines
Flex88
31st Dec 2018, 16:30
https://www.scmp.com/news/hong-kong/transport/article/2180140/hna-group-sues-company-linked-subsidiary-hong-kong-airlines
The mother is starting to eat its babies..
All "leaders" at HNA went to the same business school (if they went to school at all) and all received the same MBA in SMFM on graduation.
Smoke and Mirror Financial Management - same as the Shell Game https://www.youtube.com/watch?v=IFLa_tl4Rk0
ROW_BOT
31st Dec 2018, 17:03
Feel sorry for the crews there, but the Management sucks, and I’ll be happy when I see them walk the plank into oblivion.
The end is nigh for you fraudsters and abusers. May you die roaring. HaHaHappy New Year!
LongTimeInCX
31st Dec 2018, 23:55
And when Hong Kong Airlines folds, it'll be just perfect timing (yet again!) for CX to overcome its slots, crewing and aircraft problems.
There may be some A50's going cheap, plenty of 3rd world pilots now out of a job ready to lap up POS18, and some of their trainers who will happily take any crumbs thrown to them. Never mind if any of them lack the usual quality or experience you have been used to over the years, those pesky cx pilots have called our bluff. So come on in, there's lots of TC, CC and STC positions that need filling when TA18/19 gets voted straight out the door, which appears increasingly likely.
mngmt mole
1st Jan 2019, 01:20
Yet another impending reason for anyone with another option to grab hold of it as quickly as possible and escape this mad house. CX is finished. The name is the same, but it is now a malignant shadow of its former self. POS 18 is the future that awaits anyone who stays here. Doubt that? Just look at the last 20 years of deterioration. The latest failure of the AOA to defend our careers, and the impending collapse of HKA are the final nails in the coffin. Run.
Nailed in LTICX,
and yet again CX falls on its feet due to external circumstances.
b.
Typhoon Surfer
1st Jan 2019, 04:24
You guys in CX have a Seniority system, dontcha?
Are you seriously saying you'd let a truckload of unemployed HKA Captains just walk into LHS slots at CX, on same pay and conditions? Trashing your Seniority system? Ruining the careers of the FO's waiting for upgrades?
I'd expect nuclear war to break out immediately. You'd have nothing left to lose anyhow.
I'm not expecting HKA to fold anyhow - but a few more of their idiotic abusive management may get the boot, and good riddance to them.
Progress Wanchai
1st Jan 2019, 05:49
Didn’t take long for this thread to drift to CX.
But while we’re there...
As of today Cathay now owns 100% of Air Hong Kong. Rumor is that all the freighter 747’s will once again be crewed and operated by AHK, with AHK’s own crewing issues being addressed by the rats jumping from HKA/HKE. (And based crew doing the same to remain on their base) As upgrades completely stop at Cx, resignation rates will increase. But when you’ve an excess of 500 crew that’s not a problem that needs addressing today.
Air Profit
1st Jan 2019, 05:54
I've heard similar rumblings around the office. CX is about to land on their feet again. Hundreds of desperate and cheap aircrew looking for a job, any job, right in their back yard. It's over for everyone else, unless you are willing to work for the same appalling conditions that CX will be offering the great unwashed.
The headline is misleading.... HNA Group is suing the company wholly owned by ONE director who had been charging consultation fee off HKA..... this guy was expelled from the board by HNA and now HNA wants the money back this guy 'borrowed' 8 years ago..... the latest words were HKA has been sold and HNA wants the money back from this rouge director
Air Profit
1st Jan 2019, 06:07
That story is a distraction at best. The real issue is that HNA Group is in serious trouble, as is HKA. Cancelled routes, cancelled ac orders, and a bond payment due in a few weeks that few in the industry feel they will be able to pay. They might survive, but the odds look long at the moment.
LantauWiseman
1st Jan 2019, 08:35
That story is a distraction at best. The real issue is that HNA Group is in serious trouble, as is HKA. Cancelled routes, cancelled ac orders, and a bond payment due in a few weeks that few in the industry feel they will be able to pay. They might survive, but the odds look long at the moment.
So it's only a matter of time before HKA goes under? I suppose HNA can always try to sell HKA, but would there be a buyer? Or maybe more and more problems will appear in management and operations such that the CAD will deliver the coup de grace by revoking HKA's AOC? Although correct me if I am wrong, the CAD has never taken such an extreme step before, right?
Summit to Sea
1st Jan 2019, 16:32
Talking about CX, they were well aware of the problems at HKA and hence released POS18 waiting to catch all those who may end up without jobs. It’s not luck, it’s was a calculated assessment.
Roy De Kantzow
1st Jan 2019, 23:02
Talking about CX, they were well aware of the problems at HKA and hence released POS18 waiting to catch all those who may end up without jobs. It’s not luck, it’s was a calculated assessment.
Wouldn't surprise me. CX management are a lot of things, however one thing is for sure - they are ruthless, and will not stop at anything to make the balance sheet look better. It is that afterall that bonuses are calculated upon. Improve the balance sheet in your 3 or 4 year stint on secondment from Swires, collect your nice bonus and move on. It's all short term cost cutting.
Roy De Kantzow
1st Jan 2019, 23:28
At the expense and frustration of their long term employees.
Yes, but they don't care because the vast majority of flights are crewed.
Just take a walk in dispatch next time you're there. Groups of keen pilots eagerly discussing their 'fuel decision' all in jackets, all proudly strutting around. All having 'looked at the paperwork' befere they got to work. Almost always signing on about 20 minutes early!
We just DO NOT LEARN!
ROW_BOT
2nd Jan 2019, 01:46
Akward for the guys who dumped CX to join HKA. Especially a certain tit in management. Where will he go next?
Despised by all.
act700
2nd Jan 2019, 09:45
So, Cathay is being sued for 850 mill by HNA Group??!!
kahaha
2nd Jan 2019, 10:44
The cx ranters on here were advising wholeheartedly that FOs SO under 35 should go to HKA, fast upgrades, more money. That was 18 months ago. But the same ranters are still in CX, with alot of egg on their faces.
On the issue of unemploymed crew, several ex WOW A330 guys heading to KA.
COS18 already oversubscribed.
Aviation, when all seems rosy, its time to get ready for the rollercoaster.