Go Back  PPRuNe Forums > PPRuNe Worldwide > Fragrant Harbour
Reload this Page >

Why No Thread About Profit Share Yet?

Fragrant Harbour A forum for the large number of pilots (expats and locals) based with the various airlines in Hong Kong. Air Traffic Controllers are also warmly welcomed into the forum.

Why No Thread About Profit Share Yet?

Old 5th Mar 2014, 10:34
  #1 (permalink)  
Thread Starter
 
Join Date: Jan 2008
Location: UK
Posts: 183
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
744drv is offline  
Old 5th Mar 2014, 10:50
  #2 (permalink)  
 
Join Date: Jan 2013
Location: MOON
Posts: 159
6K & 3 weeks. Which will be a goddamn joke given their profit
twotigers is offline  
Old 5th Mar 2014, 11:33
  #3 (permalink)  
 
Join Date: May 2000
Location: By the sea
Posts: 126
6k or 3 weeks. The lower of, of course.
pill is offline  
Old 5th Mar 2014, 23:46
  #4 (permalink)  
 
Join Date: Jul 2000
Location: Smogsville
Posts: 1,428
It's to be spent on 20 -8I's
SMOC is offline  
Old 8th Mar 2014, 00:41
  #5 (permalink)  
 
Join Date: Nov 2012
Location: Home
Posts: 142
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.............
Anotherday is offline  
Old 8th Mar 2014, 17:34
  #6 (permalink)  
Thread Starter
 
Join Date: Jan 2008
Location: UK
Posts: 183
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.
744drv is offline  
Old 10th Mar 2014, 03:14
  #7 (permalink)  
 
Join Date: Aug 2007
Location: hong kong
Posts: 234
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.
AnAmusedReader is offline  
Old 10th Mar 2014, 04:36
  #8 (permalink)  
swh

Eidolon
 
Join Date: May 2001
Location: Some hole
Posts: 1,979
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.
Everything is negotiable, KA always get 13th month and pilot medicals paid for.
swh is offline  
Old 10th Mar 2014, 07:14
  #9 (permalink)  
 
Join Date: Aug 2007
Location: u.k.
Posts: 49
Both 13th month and paid medicals are included in KA contracts. So negotiation not required.
Border Reiver is offline  
Old 10th Mar 2014, 08:41
  #10 (permalink)  
Thread Starter
 
Join Date: Jan 2008
Location: UK
Posts: 183
If it is a PS AGREEMENT then some negotiation has taken place at some time
744drv is offline  
Old 10th Mar 2014, 10:31
  #11 (permalink)  
 
Join Date: Jul 2000
Location: Smogsville
Posts: 1,428
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.
SMOC is offline  
Old 12th Mar 2014, 04:46
  #12 (permalink)  
 
Join Date: Nov 2007
Location: Where You Aren't
Posts: 506
Why no thread? 'Cause we can't afford it!

HK $2,000?

Gimme a break!
Oval3Holer is offline  
Old 12th Mar 2014, 04:49
  #13 (permalink)  
 
Join Date: Jul 2001
Location: iNZid
Posts: 200
Thats awesome... I owe that in overpaid allowances.

kmagyoyo is offline  
Old 12th Mar 2014, 05:22
  #14 (permalink)  
 
Join Date: Jul 2005
Location: Hong Kong
Posts: 1,120
$2000 or half a month if lower.. Who the heck gets paid $4000 per month!!!!

How much did we save with out single engine taxi?

Frogman1484 is offline  
Old 12th Mar 2014, 05:27
  #15 (permalink)  
 
Join Date: Dec 2004
Location: hong kong
Posts: 175
How will you spend yours. Mine will go on 300kg of fuel next sector!
The FUB is offline  
Old 12th Mar 2014, 05:30
  #16 (permalink)  
 
Join Date: Mar 2013
Location: HK
Posts: 123
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...
A3301FD is offline  
Old 12th Mar 2014, 05:34
  #17 (permalink)  
 
Join Date: Jul 2001
Location: ZZ9 Plural Z Alpha
Posts: 107
Thumbs up Classic

I was hoping to get a Ruski at escape, looks like i can only get a flippo now.


Tears. Tears of laughter!!
Booger is offline  
Old 12th Mar 2014, 05:42
  #18 (permalink)  
 
Join Date: Nov 2007
Location: Brexitland
Posts: 1,135
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.
Arfur Dent is offline  
Old 12th Mar 2014, 05:48
  #19 (permalink)  
 
Join Date: Jul 2013
Location: Hong Kong
Posts: 29
You are F..king kidding me! $2,000!?!?! WTF!
dartman748 is offline  
Old 12th Mar 2014, 06:01
  #20 (permalink)  
 
Join Date: Apr 2002
Location: HK
Posts: 11
$2000 or half a month if lower.. Who the heck gets paid $4000 per month!!!!

I would guess quite a few groundstaff in India/ China/ Indonesia etc.
Freehills is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.