Why No Thread About Profit Share Yet?
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Why No Thread About Profit Share Yet?
Someone has usually started the discussion .... are we getting one? .... how big will it be? ...... why 6000HKD plus X number of weeks? ..... why was the formula changed? ..... how can the company make huge profits and only give us a measly XXXXHKD ..... why do we save fuel etc only to receive an insultingly small PS? ..... who cares about PS, where is our wage increase?
There, whole discussion done for another year
There, whole discussion done for another year
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Got 2 days last time from memory, making 12-15 times that profit this time. Formula was last revised to kick in earlier but reduce as profits increased. Therefore max would be 30, min 24ish days, around 3 weeks (since profit share tapers) from analysts estimates of profits. The more we make the less we get, as a ratio, though the amount still increases.
Rumour of a new formula this year, so who knows.............
Rumour of a new formula this year, so who knows.............
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The current Profit Share agreement is valid until after the profit share declaration of 2015. So this year would be a good time to start negotiating a new agreement. Given the progress rate between AOA and the company maybe we should have started reviewing it a year or so ago. I recall that in 2011 or 12 that the Annual Results came out without a PS agreement in place, the company saw sense not to use that as an excuse to say "ah well no agreement .... no profit share", I think a mutiny would have ensued.
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a good time to start negotiating a new agreement
Unfortunately it's not negotiable - never has been. It's company policy, from the goodness of their hearts, in its sole discretion, loaded in their favour, all the usual CX get out caveats.
Originally Posted by AnAmusedReader
Unfortunately it's not negotiable - never has been. It's company policy, from the goodness of their hearts, in its sole discretion, loaded in their favour, all the usual CX get out caveats.
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Nice healthy profit.
Orient Aviation March 2014
Hong Kong’s Cathay Pacific Airways is expected to report a robust profit when its announces its full year results for 2013 this month. Analysts predict the airline could more than double the HK$916 million (US$118.2 million) profit of 2012. The positive predictions follow a period of healthy business class travel in the fiscal fourth quarter and higher yields from its premium economy class, which is now being extended from long haul routes to regional services. The airline group is helped by the fact that China and its fast growing millions of wealthy consumers are ambitious and status conscious when it comes to their airline of choice. Cathay Pacific is the right fit for this group, with its emphasis on prestigious premium service, luxurious lounges and a partner, in flag carrier, Air China (29.99%) that sends a lot of customers its way. This month, the airline launches its fifth service to New York, this time to Newark. In coming months it will increase frequencies to Australia, Chicago and Los Angeles and build its code share agreements. Cargo, however, remains deep in the doldrums – after a short fillip in business late last year and a pick-up in the peak pre-Chinese New Year. The airline still is carrying significant over-capacity in freighters. Last month, Cathay added its 12th U.S. freighter destination, Columbus, Ohio with a twice a week schedule. Earlier in the month, it launched a three times a week freighter service to Mexico City.
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Just another management slap in the face! 
But we got a good faith bargaining agreement - oh boy.
No pay increase, no housing issue resolved, education costs in HK rising, crap offering on LON base, no other base offers forthcoming.
But they will TRY to avoid rostering rest periods of 18-30...bollocks! Airbus roster thats all you get!
Keep taking that 100kgs off for management, keep doing the RETI...
But we got a good faith bargaining agreement - oh boy.
No pay increase, no housing issue resolved, education costs in HK rising, crap offering on LON base, no other base offers forthcoming.
But they will TRY to avoid rostering rest periods of 18-30...bollocks! Airbus roster thats all you get!
Keep taking that 100kgs off for management, keep doing the RETI...
Classic
I should think there's another $39 Million being distributed to a couple of Members of the boardroom too. The payment of $2000 HKD is actually more insulting than not paying anything at all. Such style from our 'Caring' employer.