Cathay pilots have got no balls!
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Joined: Mar 2002
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From: Wybacrik
I thank you for that info Six.
I do have more than a passing interest,however,in the well being of the "49ers" and would genuinely like to know if they are continuing their careers elsewhere or are still being financially maintained by their fellow pilots.
I do have more than a passing interest,however,in the well being of the "49ers" and would genuinely like to know if they are continuing their careers elsewhere or are still being financially maintained by their fellow pilots.
Joined: Apr 2002
Posts: 56
Likes: 7
From: HK
Then again, narrowly failing to get 67% vote is hardly throwing it out!
Could be seen as somewhat short sighted, not accepting a deal that would finally index the allowance at a historic low in HK housing market - i.e. the only way is up, where as under current system the market could go back to levels of a few years ago, and no mechanism for automatic increase in allowance...
Could be seen as somewhat short sighted, not accepting a deal that would finally index the allowance at a historic low in HK housing market - i.e. the only way is up, where as under current system the market could go back to levels of a few years ago, and no mechanism for automatic increase in allowance...
Joined: May 2002
Posts: 1,124
Likes: 16
From: GC Paradise
Yet then again re-pegging the maximum rent to such a low figure for FOs severely clipped it’s wings and ensured that the proposal would never fly. The very fact that the initial proposal for a change to the Housing Policy came from management meant they were seeking new ways to increase profits at the expense of the pilots.
Speaking of profit, Cathay announced today that 2003’s result was a HK$1.30 billion profit (US$165 million). The first half was a loss of HK$1.24 billion due to devastating effect of SARS on air travel. This means that the second half must have been HK$2.54 billion profit to offset the first-half loss.
If this was extrapolated over a SARS-free 12 months, it would indicate a full year profit of HK$5.08 (US$650 million). This compares with a 2002 net profit of HK$3.98 billion (post 9/11).
Not such a bad effort for a bunch of "Cathay pilots who have no balls". (Ably assisted by a dedicated ground force flogged into submission by a tyrannical management).
Oh by the way, they achieved the boss’s obsessive goal of Operating Costs of HK$2.00 per ATK (Available Tonne Kilometers). Is he happy? No, you guessed it. He has just set a new target of a further 10% reduction. That means HK$1.80 per ATK. Batten down the hatches for more rough weather ahead.
One can imagine management starting with the Housing Proposal by shredding it…Just like they did to the package being offered to the new recruits for Air Hong Kong.
Speaking of profit, Cathay announced today that 2003’s result was a HK$1.30 billion profit (US$165 million). The first half was a loss of HK$1.24 billion due to devastating effect of SARS on air travel. This means that the second half must have been HK$2.54 billion profit to offset the first-half loss.
If this was extrapolated over a SARS-free 12 months, it would indicate a full year profit of HK$5.08 (US$650 million). This compares with a 2002 net profit of HK$3.98 billion (post 9/11).
Not such a bad effort for a bunch of "Cathay pilots who have no balls". (Ably assisted by a dedicated ground force flogged into submission by a tyrannical management).
Oh by the way, they achieved the boss’s obsessive goal of Operating Costs of HK$2.00 per ATK (Available Tonne Kilometers). Is he happy? No, you guessed it. He has just set a new target of a further 10% reduction. That means HK$1.80 per ATK. Batten down the hatches for more rough weather ahead.
One can imagine management starting with the Housing Proposal by shredding it…Just like they did to the package being offered to the new recruits for Air Hong Kong.
Joined: Nov 2002
Posts: 69
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From: Spain
CX pilots etc.
JTR etc
I am astonished that after so much water has passed under the bridge you are all so wraptd up in this pointless exercise.
Piolts job is to pilot---managements job is to manage.
By and large Mgmt. seems to be doing the better job.
How much longer are the "victims of the dispute " going to be able to poison the waters of what continues to be one of the best jobs in commercial aviation?
I think I might just cash in my major share holding and watch you all scrabble for unemployment benefits.
Remember!! they know all the answers---- and you do not even know the questions.
Rgds. FPG.
I am astonished that after so much water has passed under the bridge you are all so wraptd up in this pointless exercise.
Piolts job is to pilot---managements job is to manage.
By and large Mgmt. seems to be doing the better job.
How much longer are the "victims of the dispute " going to be able to poison the waters of what continues to be one of the best jobs in commercial aviation?
I think I might just cash in my major share holding and watch you all scrabble for unemployment benefits.
Remember!! they know all the answers---- and you do not even know the questions.
Rgds. FPG.
Joined: May 2002
Posts: 436
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From: Hong Kong
Bit harsh FaPo Gai but not far off the mark. Sure things have happened which both sides in the company now regret. But, 50 how many years now and no operating losses? T'management must be doing something right. Post 97 and SARS company plans which did not include any layoffs. Company growing like topsy and future looking quite rosy. Nonetheless we have a great workforce of aircrew and they contribute very greatly to the bottom line figures. Lots of mending taking place behind the scenes. Lets all pour some oil on the troubled waters instead of stirring the pot.
Joined: May 2002
Posts: 1,124
Likes: 16
From: GC Paradise
Ah yes, the 49ers (and their many friends and supporters) have been long awaiting for some of that oil to be poured on troubled waters. How does $500 million sound? We just have to wait for the courts to decide...