KABOY
26th Dec 2021, 12:14
So it seems CX have been burning cash without the need for that ‘loan’.
Greg, do we need it yet? It seems we can continue without it?
Well they are saving on crew costs with the current resignation rate and not having to feed anyone in penny's bay...
Cury Lamb
27th Dec 2021, 08:19
In the Financial Crimes:
https://cimg2.ibsrv.net/gimg/pprune.org-vbulletin/828x1170/06c61655_91c0_41a5_a956_f9b345f07823_fd1d4f374142a2fd9258a0c 2a50be75ed2350700.jpeg
Cathay pilots told the Financial Times that dozens had quit in the weeks since November following a high-profile quarantine fiasco.The guys here are absolutely desperate,” said one pilot who has been with the company for more than 15 years and was part of the Frankfurt saga.
“It feels like we are permanently in quarantine. There are a lot of pilots at the moment who are on long-term stress leave or sick leave.”
John Grant, a partner with the UK-based consulting firm Midas Aviation, said Cathay was facing a “long and hard struggle.” He added: “Sadly [its recovery] is at the mercy of authorities and decisions that are outside of their control.”
Ronald Lam warned that even if mainland China opened up a travel corridor with Hong Kong, that route represented just 7 per cent of the airline’s available seat kilometres, a measure of carrying capacity to generate revenue.
“Other international hubs in the region are starting to recover, while Hong Kong in some respects is going in the opposite direction,”
The “real, long-term dangers” to Hong Kong’s aviation industry were the loss of talent and wealth, said Aboulafia. He said that would “diminish the city’s standing . . . and lead to the likely departure of businesses”.
The Cathay pilot who was forced into quarantine at Penny’s Bay last month was sceptical the company could attract new people. “I can see the rest of the world carrying on, but I can’t see Hong Kong opening up,” he said. “It’s not going to get any better.”