CX Shares slip below HK8
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At the moment I reckon (my guess):
1. Looking at which routes will be viable
2. Working out fleet and headcount reductions
3. Spending a lot of time with lawyers to avoid court cases and seeing how much room they have to manoeuvre re contracts, seniority, residency etc.
4. as per 3 but working out how to implement a new contracts
The bailout gives them breathing space that’s all
1. Looking at which routes will be viable
2. Working out fleet and headcount reductions
3. Spending a lot of time with lawyers to avoid court cases and seeing how much room they have to manoeuvre re contracts, seniority, residency etc.
4. as per 3 but working out how to implement a new contracts
The bailout gives them breathing space that’s all
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The are reluctant to loose the D scale brush wing brigade. A third the price of a B scale FO and when they make command, a much broader saving .
I suspect voluntary redundancies , extended unpaid first . CX don’t want to make anyone redundant, they are the National airline .
I suspect voluntary redundancies , extended unpaid first . CX don’t want to make anyone redundant, they are the National airline .
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That’s a pretty expensive way to take one’s time figuring out what to do. I bet wartime generals wish they had nine months to figure it all out too, but they don’t, never have, never will. Good leadership involves making good decisions IN A TIMELY fashion, not simply taking your sweet time. The pilot contracts have provision for redundancies, either use it or get off the pot. If CX doesn’t like LIFO, then they should never have put it into the contracts.
Sure is. As I said it’s purely a guess. I believe they thought it would be over by the summer, now perhaps by Autumn. Failing that after a vaccine is produced.
Have you seen the latest from BA an airline operating in an environment with “solid” protections?
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And so has been the case for the last few months, the sinking feeling of the plummeting value of Cathay Pacific. Another 10% and we will be in uncharted territory regarding possible takeover bids or share swops. Cant be long before Qatar wants an increased slice.
But before then , there’s that small matter of fat cat pilots sat on their backsides , ( literally) earning far too much in the current climate.
But hey, at least the hk$ is strong and the GBP weak . Very weak, time to cash in and run to retirement. Lol.
But before then , there’s that small matter of fat cat pilots sat on their backsides , ( literally) earning far too much in the current climate.
But hey, at least the hk$ is strong and the GBP weak . Very weak, time to cash in and run to retirement. Lol.
No thanks
Coronation Street, the weather, the food (I’d be an even fatter cat) , the tax , breakfast tv and the tabloids.
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No, and I don’t care (although I wish them all the best) because it’s completely irrelevant. Their contract has nothing to do with ours and vice versa.
If CX doesn’t like LIFO, then they should never have put it into the contracts.
However it is very clearly written in the rest of our COS's.
Last edited by doolay; 12th Jul 2020 at 12:00. Reason: Spellen
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I hope you are right.
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If CX renegs on their contracts, watch the morale amongst pilots descend to never seen lows, and it’s been REALLY bad at times in the last three decades. By now, CX knows the devastating consequences of having crews work against the Company.
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Devastating. Really. Not too much devastation obvious pre Covid. Contract compliance was akin to a mosquito attempting to bite a rhinos arse. I didn’t see one solitary example of anyone taking it further and working against the company.
Those that still have a job will continue to take flight plan fuel, do RETI etc.
For those still here Morale will improve when there is a plan. For those of us finding ourselves on the outside looking in, CX, HKG, HKG public won’t give a damn about our Morale. It’s just business.
Last edited by From a distance; 12th Jul 2020 at 21:45.
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Devastating. Really. Not too much devastation obvious pre Covid. Contract compliance was akin to a mosquito attempting to bite a rhinos arse. I didn’t see one solitary example of anyone taking it further and working against the company.
Those that still have a job will continue to take flight plan fuel, do RETI etc.
For those still here Morale will improve when there is a plan. For those of us finding ourselves on the outside looking in, CX, HKG, HKG public won’t give a damn about our Morale. It’s just business.
Those that still have a job will continue to take flight plan fuel, do RETI etc.
For those still here Morale will improve when there is a plan. For those of us finding ourselves on the outside looking in, CX, HKG, HKG public won’t give a damn about our Morale. It’s just business.
Fear of losing a job can be every bit as motivational as the reward of a pay rise. I’d be guessing but after the restructure is complete anyone still left here will probably have a sense of relief rather than a destructive bitterness.
I know it’s hard for pilots to do but don’t think this is all about yourselves. 90% of the company employees from cabin crew to check in staff to engineers to the sales team don’t have a LIFO clause in their contracts. Yet they are still here just like us. The company is formulating a restructuring plan and once approved it will be implemented. The timeframe to formulate the plan can be questioned, but it’s fanciful to suggest the timeframe is a result of the company “not liking” one clause in one employee groups contracts that is worth no more than the legislation that makes the contract binding.
Again it’s hard for control freaks to get their heads around they aren’t in control of aspects of their future. This belief that it won’t be me because of my seniority number/my contract/my overseas base/my Hong Kong base/my PR status/my title/insert self preservation excuse here, is a case study in human psychology.
The sooner you accept it could quite possibly be you and formulate a plan B that doesn’t involve studying the seniority list then the better off you and your family will be.
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Exactly.
Fear of losing a job can be every bit as motivational as the reward of a pay rise. I’d be guessing but after the restructure is complete anyone still left here will probably have a sense of relief rather than a destructive bitterness.
I know it’s hard for pilots to do but don’t think this is all about yourselves. 90% of the company employees from cabin crew to check in staff to engineers to the sales team don’t have a LIFO clause in their contracts. Yet they are still here just like us. The company is formulating a restructuring plan and once approved it will be implemented. The timeframe to formulate the plan can be questioned, but it’s fanciful to suggest the timeframe is a result of the company “not liking” one clause in one employee groups contracts that is worth no more than the legislation that makes the contract binding.
Again it’s hard for control freaks to get their heads around they aren’t in control of aspects of their future. This belief that it won’t be me because of my seniority number/my contract/my overseas base/my Hong Kong base/my PR status/my title/insert self preservation excuse here, is a case study in human psychology.
The sooner you accept it could quite possibly be you and formulate a plan B that doesn’t involve studying the seniority list then the better off you and your family will be.
Fear of losing a job can be every bit as motivational as the reward of a pay rise. I’d be guessing but after the restructure is complete anyone still left here will probably have a sense of relief rather than a destructive bitterness.
I know it’s hard for pilots to do but don’t think this is all about yourselves. 90% of the company employees from cabin crew to check in staff to engineers to the sales team don’t have a LIFO clause in their contracts. Yet they are still here just like us. The company is formulating a restructuring plan and once approved it will be implemented. The timeframe to formulate the plan can be questioned, but it’s fanciful to suggest the timeframe is a result of the company “not liking” one clause in one employee groups contracts that is worth no more than the legislation that makes the contract binding.
Again it’s hard for control freaks to get their heads around they aren’t in control of aspects of their future. This belief that it won’t be me because of my seniority number/my contract/my overseas base/my Hong Kong base/my PR status/my title/insert self preservation excuse here, is a case study in human psychology.
The sooner you accept it could quite possibly be you and formulate a plan B that doesn’t involve studying the seniority list then the better off you and your family will be.
All valid points, but no reason to ignore the very part of a contract that was established and agreed upon to cater for events such as this one.
Ultimately the COS have a 3 month notice to terminate (or payment in lieu) clause.
Ultimately the COS have a 3 month notice to terminate (or payment in lieu) clause.
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Unless the business you work for is insolvent
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If CX goes insolvent, then the whole conversation is moot. The point is to keep CX from insolvency by right sizing the airline to meet demand. We have a mechanism for that, so either use it or negotiate with the pilot unions for something different (more basings, early retirements, partial pay leave of absences, etc).
I’m quite fatigued by loudmouth brats claiming protection derived purely from cheapness. That’s a ridiculous claim and one that should be firmly rebuked every time it is raised. It comes from a place of entitlement and ignorance. Pay your dues young pilots. The possibility of furlough is and was reality for every pilot on any seniority list, ever. I swear this new generation has lost the plot.
Who raised these twats? Oh, that’s right, we did. We really did a horrible job. Where did we go wrong? I honestly tried, but obviously failed. Perhaps the influence of technology has convinced these cretins that they can simply ignore the generations preceding them. They want what they want when they want it. No waiting! Socialism now! To hell with the consequences. If it feels good, do it.
I’m quite fatigued by loudmouth brats claiming protection derived purely from cheapness. That’s a ridiculous claim and one that should be firmly rebuked every time it is raised. It comes from a place of entitlement and ignorance. Pay your dues young pilots. The possibility of furlough is and was reality for every pilot on any seniority list, ever. I swear this new generation has lost the plot.
Who raised these twats? Oh, that’s right, we did. We really did a horrible job. Where did we go wrong? I honestly tried, but obviously failed. Perhaps the influence of technology has convinced these cretins that they can simply ignore the generations preceding them. They want what they want when they want it. No waiting! Socialism now! To hell with the consequences. If it feels good, do it.
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Lets not forget most airlines "may" "Could" or "Possibly" lay off thousands. Its not happened for pilots at BA, and Virgin are now sitting pretty due to
Brandson ringing up his financial mates. Would you really invest a trust fund in an airline over the next 5 years?
The CX and more predominantly KA market is China driven. A global back lash against China will affect yields. No need for 16 flights to PVG every day.
I doubt there will be redundancies. More likely no recruitment and natural wastage. The Gov have bailed the group out, so no issues this year.
CX management will have to show willing though. A drive for efficiencies, streamlining ... Oh , I nearly forgot, that's been going on for the last 2 years, and the net result is ?
Yep, it may suck in HK, but its safer than the rest of the world. Just don't complain about the system to anyone, everyone's being watched by big brother now LOL.
Brandson ringing up his financial mates. Would you really invest a trust fund in an airline over the next 5 years?
The CX and more predominantly KA market is China driven. A global back lash against China will affect yields. No need for 16 flights to PVG every day.
I doubt there will be redundancies. More likely no recruitment and natural wastage. The Gov have bailed the group out, so no issues this year.
CX management will have to show willing though. A drive for efficiencies, streamlining ... Oh , I nearly forgot, that's been going on for the last 2 years, and the net result is ?
Yep, it may suck in HK, but its safer than the rest of the world. Just don't complain about the system to anyone, everyone's being watched by big brother now LOL.
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