Currency?
 

Are Cx pilots payed in USD or HKD? Or does it depend on your base?

CX HK pilots = HKD
CX AU pilots = AUD
CX US pilots = USD etc

HKD is pegged to the USD.
Bases are paid in local currency.

Thanks very much.

Forum change
 

I see you are no longer posting on the wannabees forum as you have a start date :p :D

He He He

Goony - Just to correct your post. Bases in Europe are not paid in 'local currency', they are all paid in GBP (Sterling).

Glacier 1900
 

According to one of your previous posts, you stated that you were hired by CX as a DESO. I suggest you read your CoS and all will be revealed.

Pollution food exchange rate cowboy status grog sore throat stress divorce medication
Im glad I went to virgin blue years ago now they want to make me a 777 captain .
ps I have made a fortune on property down here as well as the market.
Cheers boys and cone head
:)

Yeah yeah yeah.

Another Virgin Blue driver talking up his financial position. :ugh:

Nothing you can do about it pal. Professionally, working for Virgin Blue, is akin to sleeping with your sister.:}

Sounds like you have made the wrong decision staying around.My advice get out now while you can,woops one problem HK dollar worth nothing stay boy,enjoy,

Don't be silly. If you are well structured in a financial town such as Hong Kong you can be hedged.

For example, my Australian property assets are achieving interest rates just over 3%. The unwashed masses in OZ are struggling with 8%. The cashflow differential for me is equivalent to a VB FO wage.

What tax are you paying on share gains?

One year in Hong Kong is about the same as working three to five years in Virgin Blue- depending on your financial savvy. And you slept with your sister, professionally speaking, for the priveledge. :}

And then
 

You forgot to mention the currency risk with your 3% mortgage. If the Peg were to be removed and the HKD revalued up 10 or 20% that would set you back a bit. Or if the AUD suddenly collapses 10-20% that would sting...it fell 10% in about a week late last year - my bank was busy doing margin calls on its mortgage clients.
And it wasn't so long ago when the HIBOR was in excess of 10%. Enjoy the low interest rate now but don't try to sell it as a risk free venture. Those that have done Yen or CHF carry trades vs the Aussie could get badly stung if exchange rates go anywhere near back to historical levels. You dont think that can happen? The AUD has gone from 82 to 56c in 2 years and from 48c - 80c in 2 years. Better hope you get back in to the AUD, and those 9% interest rates, at the right time or you will be sitting on a large capital loss.

And whilst you are paying only 3% your VB buddie is effectively paying 4% if he is in the top tax bracket thanks to negative gearing on his investment property, with no currency risk. So really there isn't that much difference between them and us except we have this huge currency risk that has lowered an average CX FOs salary to below that earned by VB FOs. And for that he gets nearly half of every month off where the air is clean and there are labour laws.

When it comes to your gambling on exchange rates and interest differentials, I would ask 404 for advice - he used to play with this stuff for a living.