CX announces HK$2.3 billion profit for 2018
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CX announces HK$2.3 billion profit for 2018
Embattled Cathay Pacific Airways has said it expects to announce a net profit of HK$2.3 billion (US$295 million) for 2018 – a huge turnaround from its HK$1.25 billion loss the previous year.
So, this is why they wanted the vote to be passed before they announced this news.
So, this is why they wanted the vote to be passed before they announced this news.
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Yes, now you know why the company was desperately trying to hurry and get the vote through. I completely expected that from the management, but I can't understand why the AOA GC wanted to play along with that (oh, wait...). We were just about sold down the river for pennies. Now, the management have to deal with not only an energized pilot group, industry leading sickness and resignation rates, but now they also have to deal with healthy profits and the obvious expectations of their pilots because of it. CC and the TB are our friend, and it will take some serious improvements to my contract to convince me to drop those actions. It's time to restore our value to what we know we are worth. POS 18....? Will soon be consigned to the dustbin of history (along with the CK video attempting to sell it 
). Every pilot in this airline will now simply tell management, "stop the crap", and give us a proper contract. The longer our management pretend to themselves that nothing has changed, the more it will change.
). Every pilot in this airline will now simply tell management, "stop the crap", and give us a proper contract. The longer our management pretend to themselves that nothing has changed, the more it will change.
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HKD2.3B is not exactly a lot considering most of the world is having record profits and given CX’s fleetsize... If you couldn’t make a profit last year you should just quit and do something else.
HK$ 2.3 Bn on a Market cap of HK$ 51.3 Bn = 4.48% return - not earthshaking really...... given the risks of the airline business.......
CX share price opened at $HK12.06 this morning. After lunch it went to $HK13.16.
When was the Profit Alert released to the market, during the lunch break, or after trading closed today?
I'm still holding mine at $21/share....a long way to go for me to break even
When was the Profit Alert released to the market, during the lunch break, or after trading closed today?
I'm still holding mine at $21/share....a long way to go for me to break even
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The group operates 200 aircraft and in a year when aviation is booming, made just enough money to buy 1 more.
The only positive outcome I see from this announcement is that the shareholders finally vote to overthrow the current management structure. Or the AOA TU’s grow the balls to hold a vote of no confidence in the leadership.
I fail to see how this anemic “profit” otherwise assists the long suffering pilot groups. If anyone here is investing into this circus please pm me. I’ve a bridge that’s for sale.
The only positive outcome I see from this announcement is that the shareholders finally vote to overthrow the current management structure. Or the AOA TU’s grow the balls to hold a vote of no confidence in the leadership.
I fail to see how this anemic “profit” otherwise assists the long suffering pilot groups. If anyone here is investing into this circus please pm me. I’ve a bridge that’s for sale.
Jeez RAT - calm down man.... it's only a job
They can't pull out your fingernails or shoot your kids............................
They can't pull out your fingernails or shoot your kids............................
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Yes, CX is well north of $3 Billion US (24 billion HKD) on fuel hedging losses. That means that if CX has just done nothing except pay spot prices for fuel, we would actually have a MUCH healthier balance sheet. No one to blame but Swire elites, and they want US to pay for THEIR mistakes??? No thanks, pass!!!
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We will never know how much profit is really there - with transfer pricing Swire move the money around to fill their pockets, avoid the taxman and screw over the little people. The biggest transfer pricing example is the so called fuel hedge.
I haven’t checked IntraCX but I am sure that they have conveniently forgotten to promulgate a profit share formula as they did for a profit result many years ago. Of course it is always “formulated” when they already have a good idea of what the likely results are.
Don’t want to inspire too much good faith from the workforce because that doesn’t have a $ value accountable by our accountagers.
Perhaps NumeroCrunchero can forecast some likely numbers, or has he gone to ground after Prop18?
Don’t want to inspire too much good faith from the workforce because that doesn’t have a $ value accountable by our accountagers.
Perhaps NumeroCrunchero can forecast some likely numbers, or has he gone to ground after Prop18?
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Let's see how they spin this profit! By the way, the profit is the same amount that Qantas has reported. Joyce says he is happy with the way the company adapted to the challenging times. I bet we will be told times are tough...competition, we poor, bleak future etc etc
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Let's remember this is a NET profit, so all the fines and penalties have already been deducted. It is a trunround from last year which the markets will like. The management can say what they like, the figures tell a different story to the one they were pushing 3 weeks ago. Of course their response will be "thanks to the efforts of all staff EXCLUDING pilots, a profit was made". Dream on 9th floor, your bluff has been called and you lost.
