2009 Profit Results
Join Date: Aug 2007
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.....hope the RAF or RAAF or USAF was fun and that the training your received at the taxpayers expense is still up to the excellent standards we expect.
Anyone leaving the military these days will have more than "paid back" the cost of their training! Some of my friends didn't live long enough to move on to civil aviation. And the bush flying/GA route has also claimed it's fair share of casualties along the way. No one has an easy ride to CX or any other airline.
Although I hate what the company has done to us with all this SLS BS, I can see that we're probably better off than the rest of his ex Air Force mates. Doesn't make it right.
Join Date: Mar 2006
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FF
Broadly agree with everything you say. Certainly I want improvements to our circumstances and as I said in my first post on this thread, CX has done many things in the past that I totally disagree with/upset me. For me however SLS payback is a standalone issue and on that basis I think that overall they have done the right thing. That is not to say that I agree with their handling of 13th month, profit share or various other issues.
As stated in my previous post, I do feel the 10% witholding was petty, But as a hypothetical question, if the witholding threshold had been for level E only do you believe there would still be this outcry at how all the managers had been unfaily treated?
For me the simple fact is that in the worst reccesion since the great depression to be given 4 weeks additional leave at a cost of less that 3 days pay seems a reasonable deal. I guess many on this forum would not agree with that. However, I would be interested to know how those same indiviuals would answer the following question:-
If a new COS came out tomorrow offering an additional 4 weeks leave every year for less than a .85% pay cut would you take it?
IFB
Broadly agree with everything you say. Certainly I want improvements to our circumstances and as I said in my first post on this thread, CX has done many things in the past that I totally disagree with/upset me. For me however SLS payback is a standalone issue and on that basis I think that overall they have done the right thing. That is not to say that I agree with their handling of 13th month, profit share or various other issues.
As stated in my previous post, I do feel the 10% witholding was petty, But as a hypothetical question, if the witholding threshold had been for level E only do you believe there would still be this outcry at how all the managers had been unfaily treated?
For me the simple fact is that in the worst reccesion since the great depression to be given 4 weeks additional leave at a cost of less that 3 days pay seems a reasonable deal. I guess many on this forum would not agree with that. However, I would be interested to know how those same indiviuals would answer the following question:-
If a new COS came out tomorrow offering an additional 4 weeks leave every year for less than a .85% pay cut would you take it?
IFB
Join Date: Oct 2007
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Who is going to run this show in the long run?
Guys I just want to remind u. Air China owns 1/3 of CX.
They will be buying Shenzhen Airlines and don't think that Swire won't tie up with them somehow.
Swire are slowly moving into a management position for CX/Dragon/Air China Cargo/Air HK/Shezhen AL etc. We will be working for the Chinese in the long run. We need to hold on to every benefit we got. Swire Managers are going to become every greedy (cutting as much as they can) for their bonuses in the next 5yrs. As their loyal for their staff & team disapate. They have already sold off Haeco. (That's alot of future profits gone from CX)
Anyway, its up to us Pilots & our trainers & Chief Pilots to lead the way in fighting to maintain the professialism of this airline. Other staff memebers won't see this coming.
Air China rises 13pc on plans to raise funds
Shares in Air China (SEHK: 0753, announcements, news) rose as much as 13 per cent after the carrier announced plans to raise 6.5 billion yuan (HK$7.38 billion) through a private share placement to beef up its balance sheet.
The news came after its bigger rival, China Southern Airlines, said it was seeking to raise more than 10 billion yuan from issuing new shares to 10 specific shareholders this week.
Shares in Air China closed 11.1 per cent up at HK$7.52 yesterday.
Several analysts said the market had reacted positively to the fund-raising news because it could increase the Beijing-based carrier's liquidity and help it with potential merger and acquisition plans.
"A stronger financial position will enhance Air China competitiveness and help fulfil its ambition to be an industry consolidator," Citigroup said in a report.
Air China is in a dogfight with China Southern over a controlling stake in Shenzhen Airlines. Air China is seen as having the edge after its vice-president Fan Cheng was appointed Shenzhen Air's acting president on March 6 following the arrest of the previous president.
A report from Daiwa Capital Markets said Air China's net asset value per share would increase to 3.08 yuan from 2.69 yuan. The brokerage house has increased the target price to HK$8.19 from HK$7.16.
After repaying bank loans, the carrier's net debt to equity ratio would fall to 1.3 times from 1.8 times, which is in line with leaders like British Airways, Lufthansa and Cathay Pacific Airways (SEHK: 0293), the Citigroup report said.
Cathay, which owns 18.1 per cent of Air China, will have its stake diluted to 17.1 per cent after the share placement. However, analysts expect Cathay to seek to raise its Air China stake in the future. Cathay could potentially find ways to subscribe to some of the new shares to retain or increase its stake to a maximum limit of 25 per cent, a JP Morgan report said.
Air China holds a 29.9 per cent stake in Cathay at present.
The carrier plans to issue 585 million A shares at not less than 9.58 yuan per share to 10 specific shareholders, including its parent, China National Aviation Holding Company, and 157 million H shares at not less than HK$6.62 apiece to a subsidiary of its parent. The shares subscribed to by the parent are subject to a 36-month lock-up period, and other investors are subject to a lock-up period of 12 months.
Shares in Cathay closed 1.03 per cent down at HK$15.32 yesterday.
They will be buying Shenzhen Airlines and don't think that Swire won't tie up with them somehow.
Swire are slowly moving into a management position for CX/Dragon/Air China Cargo/Air HK/Shezhen AL etc. We will be working for the Chinese in the long run. We need to hold on to every benefit we got. Swire Managers are going to become every greedy (cutting as much as they can) for their bonuses in the next 5yrs. As their loyal for their staff & team disapate. They have already sold off Haeco. (That's alot of future profits gone from CX)
Anyway, its up to us Pilots & our trainers & Chief Pilots to lead the way in fighting to maintain the professialism of this airline. Other staff memebers won't see this coming.
Air China rises 13pc on plans to raise funds
Shares in Air China (SEHK: 0753, announcements, news) rose as much as 13 per cent after the carrier announced plans to raise 6.5 billion yuan (HK$7.38 billion) through a private share placement to beef up its balance sheet.
The news came after its bigger rival, China Southern Airlines, said it was seeking to raise more than 10 billion yuan from issuing new shares to 10 specific shareholders this week.
Shares in Air China closed 11.1 per cent up at HK$7.52 yesterday.
Several analysts said the market had reacted positively to the fund-raising news because it could increase the Beijing-based carrier's liquidity and help it with potential merger and acquisition plans.
"A stronger financial position will enhance Air China competitiveness and help fulfil its ambition to be an industry consolidator," Citigroup said in a report.
Air China is in a dogfight with China Southern over a controlling stake in Shenzhen Airlines. Air China is seen as having the edge after its vice-president Fan Cheng was appointed Shenzhen Air's acting president on March 6 following the arrest of the previous president.
A report from Daiwa Capital Markets said Air China's net asset value per share would increase to 3.08 yuan from 2.69 yuan. The brokerage house has increased the target price to HK$8.19 from HK$7.16.
After repaying bank loans, the carrier's net debt to equity ratio would fall to 1.3 times from 1.8 times, which is in line with leaders like British Airways, Lufthansa and Cathay Pacific Airways (SEHK: 0293), the Citigroup report said.
Cathay, which owns 18.1 per cent of Air China, will have its stake diluted to 17.1 per cent after the share placement. However, analysts expect Cathay to seek to raise its Air China stake in the future. Cathay could potentially find ways to subscribe to some of the new shares to retain or increase its stake to a maximum limit of 25 per cent, a JP Morgan report said.
Air China holds a 29.9 per cent stake in Cathay at present.
The carrier plans to issue 585 million A shares at not less than 9.58 yuan per share to 10 specific shareholders, including its parent, China National Aviation Holding Company, and 157 million H shares at not less than HK$6.62 apiece to a subsidiary of its parent. The shares subscribed to by the parent are subject to a 36-month lock-up period, and other investors are subject to a lock-up period of 12 months.
Shares in Cathay closed 1.03 per cent down at HK$15.32 yesterday.
