Show me the money
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Join Date: Mar 2015
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Show me the money
I have seen no evidence whatsoever of the company being in financial trouble, therefore I see no need for any concessions.
The fuel hedge will pass, then margins will improve.
The pressure on airfares from HKA will pass, sooner or later they will have to raise their fares to provide a return on investment.
The office staff redundancies were over due. Too many people pushing paper in circles not achieving anything. An incredibly poorly managed company with inept staff following dumb policies.
This is what I want to know:
Who was the fuel hedge with?
Did any company associated with Swire make money on the fuel hedge?
Is it true that the Swire owned company HAECO charges CX three times what they charge other carriers for a turn around, and HAS charges $1800 for a bus trip to the airport?
If it wasn't for the fuel hedge, cargo price fixing fines and transfer pricing, what would the CX profit/loss be?
Did the managers in the chain of command who approved the fuel hedge and the illegal cargo price fixing receive performance bonuses? How much? Why?
The fuel hedge will pass, then margins will improve.
The pressure on airfares from HKA will pass, sooner or later they will have to raise their fares to provide a return on investment.
The office staff redundancies were over due. Too many people pushing paper in circles not achieving anything. An incredibly poorly managed company with inept staff following dumb policies.
This is what I want to know:
Who was the fuel hedge with?
Did any company associated with Swire make money on the fuel hedge?
Is it true that the Swire owned company HAECO charges CX three times what they charge other carriers for a turn around, and HAS charges $1800 for a bus trip to the airport?
If it wasn't for the fuel hedge, cargo price fixing fines and transfer pricing, what would the CX profit/loss be?
Did the managers in the chain of command who approved the fuel hedge and the illegal cargo price fixing receive performance bonuses? How much? Why?
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Dan has got it right. All we hear about is the amount of money that CX is losing.
But then they go and purchase 40% of an associated airline!! Spending money like drunken sailors.
Honestly, these people are so full of S*#T it's not funny. It's the expectation management style that always comes out during negotiations. I can't wait until the announcement that HPE has failed because the Union wouldn't submit to all of their demands. It's all the pilot's fault!
New contract anyone?!
But then they go and purchase 40% of an associated airline!! Spending money like drunken sailors.
Honestly, these people are so full of S*#T it's not funny. It's the expectation management style that always comes out during negotiations. I can't wait until the announcement that HPE has failed because the Union wouldn't submit to all of their demands. It's all the pilot's fault!
New contract anyone?!
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ControlledRest
Haeco, Haesl, Cathay Catering, HAS, etc. ALL simply a legal method to suck cash out of a very profitable company. At the end of every year - no profit to trigger profit sharing. BS. Profit sharing from all those companies go to Directors, GM's and up. Just not the people who make it happen..
Fuel Hedge may very well be one of the above.... you decide
Fuel Hedge may very well be one of the above.... you decide
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What a great post CR. Many other items we could add to that list. You make a great point: why does the AOA not properly educate new joiners about the history of this company? We need a properly written precise of the history, particularly since the early 90's, clearly and concisely laying out all the deception, intimidation, threats, attacks and fiascos. This management is not fit for purpose, and is still in place undermining and devaluing the careers of those here now, and those to come. Without a proper understanding of what happened over the past 25 years, the new generation begins to accept the current dysfunction as 'normal'. Once that becomes the accepted narrative, all is truly lost. AOA, get someone to draw up a document that clearly lays out the past, and how egregious our managements actions have been. We can't allow ignorance to replace witness and testimony to history. Everyone in this company needs to know the truth, and the nature of the 'beast'.
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CR looks like you have flown with Adelaide GS's son. Sounds exactly like the conversation i had with him, absolutely no clue apart from the the company is the best. Apple hasn't fallen far from the tree
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I think rising competition is an issue. But it is more a issue for the airlines than the crews. Especially if the trend of paying decently for a few extra crew continues (China contracts)
The ultimate end game will be like the US. Consolidation to a few companies, that control the market well enough to pay reasonably and make a profit.
The ultimate end game will be like the US. Consolidation to a few companies, that control the market well enough to pay reasonably and make a profit.
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PLease explain to me how, that in the historical years, when fuel was at $80 and way above..the airline managed to make billions in profits? Yet now by simple comparison to other airlines paying less for their fuel we managed a paltry income?.
Surely such comparisons are irrelevant. Imagine fuel at $85/barrel for the last 10 years straight...you're telling me every year would have incurred a loss?...BS.
I've seen spot fuel at $150+ and still we were in the black and handsomely.
Surely such comparisons are irrelevant. Imagine fuel at $85/barrel for the last 10 years straight...you're telling me every year would have incurred a loss?...BS.
I've seen spot fuel at $150+ and still we were in the black and handsomely.
One simple question..let's be transparent about the fuel hedging.
Who was on the other end of the swap? Let's hear it.
I was wondering if any company diverted funds when the staff have a contractual profit sharing formula..wouldn't that be fraud?
Who was on the other end of the swap? Let's hear it.
I was wondering if any company diverted funds when the staff have a contractual profit sharing formula..wouldn't that be fraud?
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The staff profit sharing is spare change compared to the real laundering.
This place is a modern day Enron. A minor share holder with total management control awarding contracts and diverting money to companies that management own 100 percent of. Good work if you can get it. Ken Lay would be proud.
They don't even try to hide the scam. Senior CX management are paid bonuses based upon Swire's profits, not Cathay's.
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Eventually we all end as dust, and so will the Swires. The difference will come in the accounting afterwards. The meek shall inherit... There is a time and place for everything to be accounted for. They may think they are accomplishing one of the great business cons of all time. If only they knew. Yes, this place is malignant, corrupt and a corporate misery. Just be glad you do an honourable job and represent an honourable profession. Be glad you are not one of the non-pilot management, for there surely is evidence of all that is horrible within the realm of humanity.
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PW n all
The staff profit sharing is spare change compared to the real laundering.
This place is a modern day Enron. A minor share holder with total management control awarding contracts and diverting money to companies that management own 100 percent of. Good work if you can get it. Ken Lay would be proud.
They don't even try to hide the scam. Senior CX management are paid bonuses based upon Swire's profits, not Cathay's.
This place is a modern day Enron. A minor share holder with total management control awarding contracts and diverting money to companies that management own 100 percent of. Good work if you can get it. Ken Lay would be proud.
They don't even try to hide the scam. Senior CX management are paid bonuses based upon Swire's profits, not Cathay's.
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PLease explain to me how, that in the historical years, when fuel was at $80 and way above..the airline managed to make billions in profits? Yet now by simple comparison to other airlines paying less for their fuel we managed a paltry income?.
Surely such comparisons are irrelevant. Imagine fuel at $85/barrel for the last 10 years straight...you're telling me every year would have incurred a loss?...BS.
I've seen spot fuel at $150+ and still we were in the black and handsomely.
Surely such comparisons are irrelevant. Imagine fuel at $85/barrel for the last 10 years straight...you're telling me every year would have incurred a loss?...BS.
I've seen spot fuel at $150+ and still we were in the black and handsomely.
Hence the revenue and yield drop last year as all fuel surcharge were cancelled.
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Haeco, Haesl, Cathay Catering, HAS, etc. ALL simply a legal method to suck cash out of a very profitable company. At the end of every year - no profit to trigger profit sharing. BS. Profit sharing from all those companies go to Directors, GM's and up. Just not the people who make it happen..
Fuel Hedge may very well be one of the above.... you decide
Fuel Hedge may very well be one of the above.... you decide
If you look at its core business (I.e. Flying) the loss is even greater. Of coz mostly because of the fuel hedging .