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ClOSedloop22

Old 7th Feb 2022, 09:10
  #41 (permalink)  
 
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Originally Posted by CovidRefugee View Post
How About Debbie chipping in with a few closed loop cycles? Isn't she an ex cabin crew manager? Maybe she could heat up the meals on the freighter.
Debbie does Dallas ? Followed by Tung Chung !
Iíll get my coat.
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Old 7th Feb 2022, 10:22
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Originally Posted by Sam Ting Wong View Post
You mean for keeping the airline afloat so you can continue to get a salary for nothing?
If no one volunteered then maybe the airline would adjust its approach and support its pilots.

or maybe thereís too much logic in thatÖ
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Old 7th Feb 2022, 10:53
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Originally Posted by Sam Ting Wong View Post
You mean for keeping the airline afloat so you can continue to get a salary for nothing?
I spend most of my month on EMS, or queueing for 2hrs+ at a testing centre. I do not do closed-loop and I still take a salary, how does this fit your "nothing" description?
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Old 7th Feb 2022, 11:12
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Fair enough. Let me re-phrase: stop the righteous judging of closed-loop volunteers. Mind your own business.

PS Any suggestion that starts with " If no one would.." is futile

Last edited by Sam Ting Wong; 7th Feb 2022 at 17:20.
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Old 7th Feb 2022, 11:35
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Originally Posted by Sam Ting Wong View Post
You mean for keeping the airline afloat so you can continue to get a salary for nothing?
the airline is afloat because the HK government poured almost 30b into it.....
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Old 7th Feb 2022, 11:53
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True. For now.
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Old 7th Feb 2022, 12:32
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Originally Posted by Sam Ting Wong View Post
True. For now.
true-airline solvent
false-airline bankrupt
for now- ??

Is this stating the airline is afloat due to closed loop or government money?

Or, the airline is now a zombie company?
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Old 7th Feb 2022, 12:59
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Afloat mainly because of Gov money. For now.
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Old 7th Feb 2022, 13:26
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Have they actually drawn down the government money ?
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Old 7th Feb 2022, 13:48
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No, but they might have to when they see my closed loop paycheck.
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Old 7th Feb 2022, 14:10
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Originally Posted by Sam Ting Wong View Post
No, but they might have to when they see my closed loop paycheck.

Well I trust you live long enough to spend it.
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Old 7th Feb 2022, 14:11
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Originally Posted by Sam Ting Wong View Post
No, but they might have to when they see my closed loop paycheck.
Hahaha cringe.
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Old 7th Feb 2022, 14:16
  #53 (permalink)  
 
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In seriousness, the government help is bifold: equity plus an optional loan. The equity deal has been done, the loan is on hold. At least that is my understanding.
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Old 7th Feb 2022, 15:22
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According to Bloomberg the loan is structured like a developing country loan. In 2026 the annual repayment will be more that Cathay Pacific have ever made as a profit in a year.

A developing country has to give a sea port or a third of its agricultural produce to offset the loan. Cathay will have to give most of itself. Such is "Capitalism with Chinese characteristics"
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Old 7th Feb 2022, 17:19
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Cathay made a profit of 14 Billion HK$ in 2010.
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Old 7th Feb 2022, 18:11
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Originally Posted by Sam Ting Wong View Post
Cathay made a profit of 14 Billion HK$ in 2010.

And thatís the last time youíll see that.
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Old 7th Feb 2022, 21:35
  #57 (permalink)  
 
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Zombie Company ??

Originally Posted by KABOY View Post
true-airline solvent
false-airline bankrupt
for now- ??

Is this stating the airline is afloat due to closed loop or government money?

Or, the airline is now a zombie company?
If you have even a rudimentary ability to balance a cheque book, your question becomes rhetorical
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Old 8th Feb 2022, 10:07
  #58 (permalink)  
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Originally Posted by Globocnik View Post
Have they actually drawn down the government money ?
isn't that a way they manipulate the words? They said they haven't used the gov money and they have 20 billion in the acc or thereabout, wouldn't that mean if it wasn't for the Gov, they would've used up all their own cash?
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Old 10th Feb 2022, 07:33
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Anxio, I remember reading that article and thinking it was like reading the financial version of the national enquirer. A load of sensationalist BS

If my memory is correct it was talking about an interest bill of $2billion HKD in 2025 or 2026 - we made 1.5-2Billion in the 2nd half of last year with less than half our aircraft flying and in the middle of a pandemic. We lost 32 Billion in fuel speculation over 4 years - so yeah, I think we can manage to make the interest payments on less than 30billion in loans at an interest rate that gradually catches up to around 5-6 %

CX aint going broke any time soon. Not this year anyway - if things stay locked down like they are on 10th of Feb for the rest of this year - we will still have probably half of that money left undrawn.



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Old 10th Feb 2022, 10:14
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Hold on to that thought NC. I canít name a single airline ( other than the ones solely in Govt hands with long pockets such as the ME3 that tend not to publish results anyway) that can function without actually generating revenue. ie flying.
Where do the lease payments for -8ís, A320ís/ A321ís/A50ís figure in your calculations ? And thatís the CX fleet alone. HKE has a relatively young fleet. I canít imagine that theyíre all paid for. To say nothing of the rent etc on the tenanted land that the airline and subsidiaries occupy at CLK, rents at outports, leasing of APUís/ power plants etc.
Itís a massive drain. And can only lead to the balance books going one way, in the absence of any real revenue.

Last edited by MENELAUS; 10th Feb 2022 at 10:34.
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