Cathay Pacific Shares Plunge
I can get to third and fourth tier Chinese cities direct from Shenzhen Airport, without staging through Shanghai or Beijing hubs. Airport and aircraft are new. Very convenient bus service from Shun Tak Centre.
3rd and 4 th tier. Bliss. Sheer bliss. Enjoy.
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This kind of begs the question 'why stop in HKG at all' for some of our flights. Why not operate direct from say LAX-HND, ORD-PVG, or LHR-BOS, BKK-YVR, etc.
Because there is the small matter of traffic rights.
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A few stray thoughts:
Could it be the Top Brass is not being fired and the elephant in the room (fuel hedge) is being glossed over because the Board is in on it? The Board are not going to fire themselves.
CX's annual loss is well manageable for SWIRE and Sons who takes in Billions annually in profit . Not too unsettling either for China's govt owned Air China.
They will expect a further loss. The ship is basically sound. The important thing is not to "over-correct". Mis-handling of an inflight upset can result in a tail spin. CX has to tread carefully. Amputating a foot will not be the solution for a patient with a brain tumor. CX doesn't have bird flu, just a case of a bad cold . They need to be careful not to demoralize the whole company with a massive reduction of their workforce.
Could it be the Top Brass is not being fired and the elephant in the room (fuel hedge) is being glossed over because the Board is in on it? The Board are not going to fire themselves.
CX's annual loss is well manageable for SWIRE and Sons who takes in Billions annually in profit . Not too unsettling either for China's govt owned Air China.
They will expect a further loss. The ship is basically sound. The important thing is not to "over-correct". Mis-handling of an inflight upset can result in a tail spin. CX has to tread carefully. Amputating a foot will not be the solution for a patient with a brain tumor. CX doesn't have bird flu, just a case of a bad cold . They need to be careful not to demoralize the whole company with a massive reduction of their workforce.
.Could it be the Top Brass is not being fired and the elephant in the room (fuel hedge) is being glossed over because the Board is in on it?
Guess who was CEO back then? Maybe that might answer your question.
Last edited by KABOY; 19th Mar 2017 at 08:42.
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Dear Gus,
I never thought I'd have to write one of these letters but here I am, sitting in my favorite plush armchair at the Hong Kong Club, ready to fall on my sword. Quite a sobering experience. I'd better order another Grange.
My slight deviation from company procedures is that I've been crash landing planes 60 percent of the time over the last 3 years. Not just that either. Crash landing at random places all over the map. Some places you'd never even have heard of (but mainly in the Bahamas, Switzerland and other places where money moves hands freely with little oversight and zero tax).
But let's put that into perspective. As Ivan the Invisible would say, this means that I'm not crash landing, at the right airport, 40 percent of the time. Quite respectable really.
You may ask why I'm just writing to you after 3 years. Well, it seems these bent airframes scattered all over the planet is starting to get a few lips talking and I thought I'd get ahead of the drag curve with this one. So in accordance with our just reporting culture, I'm only just reporting now.
Just.
What lessons have I learned?
Bugger all really. I fear these bent airframes are going to keep appearing at all sorts of weird places for a few years yet.
What should the company do?
I'd expect no less than a bonus that at least doubles my agreed remuneration package to continue on as per standard operating procedures and normal practice. Also I should be allowed to retain my last 3 years of bonuses despite the fact I've no idea why they were paid at all.
Is this in line with industry best practice?
Not even close but here we try to operate to a different level. We have the CX standard. So that'll be a 5 thanks.
I'd better leave it at that and finish this lovely 1965 Hermitage as I'm working soon and may be AOD tested. From my plush armchair I can see some 9th floor chaps truly settling in for a session. Must be nice to be in a "non-safety" position.
Yours forever gratefully,
A Bonus Thief
(aka Fuel Hedger turned pilot getting my head around accountability (not just accounts))
I never thought I'd have to write one of these letters but here I am, sitting in my favorite plush armchair at the Hong Kong Club, ready to fall on my sword. Quite a sobering experience. I'd better order another Grange.
My slight deviation from company procedures is that I've been crash landing planes 60 percent of the time over the last 3 years. Not just that either. Crash landing at random places all over the map. Some places you'd never even have heard of (but mainly in the Bahamas, Switzerland and other places where money moves hands freely with little oversight and zero tax).
But let's put that into perspective. As Ivan the Invisible would say, this means that I'm not crash landing, at the right airport, 40 percent of the time. Quite respectable really.
You may ask why I'm just writing to you after 3 years. Well, it seems these bent airframes scattered all over the planet is starting to get a few lips talking and I thought I'd get ahead of the drag curve with this one. So in accordance with our just reporting culture, I'm only just reporting now.
Just.
What lessons have I learned?
Bugger all really. I fear these bent airframes are going to keep appearing at all sorts of weird places for a few years yet.
What should the company do?
I'd expect no less than a bonus that at least doubles my agreed remuneration package to continue on as per standard operating procedures and normal practice. Also I should be allowed to retain my last 3 years of bonuses despite the fact I've no idea why they were paid at all.
Is this in line with industry best practice?
Not even close but here we try to operate to a different level. We have the CX standard. So that'll be a 5 thanks.
I'd better leave it at that and finish this lovely 1965 Hermitage as I'm working soon and may be AOD tested. From my plush armchair I can see some 9th floor chaps truly settling in for a session. Must be nice to be in a "non-safety" position.
Yours forever gratefully,
A Bonus Thief
(aka Fuel Hedger turned pilot getting my head around accountability (not just accounts))
Last edited by Progress Wanchai; 20th Mar 2017 at 02:54.
Sarcasm is truly the highest form of wit, and in this case, reads like the truth. Well done.
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