Some interesting figures
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Some interesting figures
Staff costs were over $12Billion last year. So lets assume it was around $10B for salaries - just for simplicity. Let's also assume we all gave 2 weeks in SLS (not a bad assumption really as the extra 2 weeks salary sacrifice of a Level D or E employee is equal to probably 5-20 Level A staff's worth of 1 week sacrifice - the ratio of Level D/E to Level A is probably very roughly around 10 times)
So using the above assumptions:
SLS saved around $400m.
Paying back 90% to Level D/E probably saved around $10-15m.
The announced dividend of 10cents will give Swire about $160m and the other majority shareholders(CNAC/Air China/CITIC) about $140m.
Tony Tyler's reported 2008 remuneration was $15m
So in summary.
SLS - saved $400m but around $385-390m paid back.
CX pays out almost $400m in the interim dividend ($160m to Swire etc)
Level D/E (predominantly pilots) have $10-15m of their money un-refunded.
Tony Tyler's 2008 remuneration was $15m of which $6m was bonus related.
So not exactly sure what the purpose of holding the 10% back was!?
So using the above assumptions:
SLS saved around $400m.
Paying back 90% to Level D/E probably saved around $10-15m.
The announced dividend of 10cents will give Swire about $160m and the other majority shareholders(CNAC/Air China/CITIC) about $140m.
Tony Tyler's reported 2008 remuneration was $15m
So in summary.
SLS - saved $400m but around $385-390m paid back.
CX pays out almost $400m in the interim dividend ($160m to Swire etc)
Level D/E (predominantly pilots) have $10-15m of their money un-refunded.
Tony Tyler's 2008 remuneration was $15m of which $6m was bonus related.
So not exactly sure what the purpose of holding the 10% back was!?
Exactly Numero!!
A report from a colleague today that during a CX Fleet forum, when asked why the Captains only received 90% back, the reply was "Captains should lead by example."
Work that one out!!
b.
A report from a colleague today that during a CX Fleet forum, when asked why the Captains only received 90% back, the reply was "Captains should lead by example."
Work that one out!!
b.
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"So not exactly sure what the purpose of holding the 10% back was!? "
Looks to me like the lawyers on our side in the innumerable number of court cases at the moment are being paid for by our AOA subs.
And the lawyers on the Company's side are being paid for by Cat D staff's SLS.
Looks to me like the lawyers on our side in the innumerable number of court cases at the moment are being paid for by our AOA subs.
And the lawyers on the Company's side are being paid for by Cat D staff's SLS.
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"Captains should lead by example."
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Wierd world we live in...
Basically, there is a financial crisis looming-
Every manager known to man knee-jerks and claims we're all going to die-
Our little darlings at CX say we're all going to die so they knee-jerk-
They invent this SLS mayhem thereby creating a "synthetic" crew shortage, in turn triggering an inflated amount of EFP-
Then finally, there was no need to knee-jerk so SLS is paid back (almost) in full but the bottom line is dented by the EFP that was unnecessarily paid to crews (I'm actually very happy for those who profited from that, it's not the point).
The way I understand it, our managers are going to be given big bonuses for loosing the company money.
Hmmmm.
Every manager known to man knee-jerks and claims we're all going to die-
Our little darlings at CX say we're all going to die so they knee-jerk-
They invent this SLS mayhem thereby creating a "synthetic" crew shortage, in turn triggering an inflated amount of EFP-
Then finally, there was no need to knee-jerk so SLS is paid back (almost) in full but the bottom line is dented by the EFP that was unnecessarily paid to crews (I'm actually very happy for those who profited from that, it's not the point).
The way I understand it, our managers are going to be given big bonuses for loosing the company money.
Hmmmm.
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For Numero Chruncher (or someone who can answer),
What do HKG-based F/O's who switched to COS08 from COS99 get? Basically, how much coin in weeks approximately? F#ck all, or something decent?
Oh, and said F/Os did not accept SLS.
s11max
What do HKG-based F/O's who switched to COS08 from COS99 get? Basically, how much coin in weeks approximately? F#ck all, or something decent?
Oh, and said F/Os did not accept SLS.
s11max
Last edited by s11max; 12th Mar 2010 at 00:15.
As my support the next time I do a ULH I will allow the captain 10% more sleeping time. 
On a serious note though NC I think it is to divide the pilot community. Only problem that I can see with the companies strategy though is that I think it will have the reverse effect. I may have got all my money back but so should have all staff before a cent was paid to the shareholders.
On a serious note though NC I think it is to divide the pilot community. Only problem that I can see with the companies strategy though is that I think it will have the reverse effect. I may have got all my money back but so should have all staff before a cent was paid to the shareholders.
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ll FOs who clicked CoS08 and no SLS will get 3 weeks extra pay in April
Everybody on COS 99 are now the new 'A' scalers - ...
