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Why No Thread About Profit Share Yet?
Someone has usually started the discussion .... are we getting one? .... how big will it be? ...... why 6000HKD plus X number of weeks? ..... why was the formula changed? ..... how can the company make huge profits and only give us a measly XXXXHKD ..... why do we save fuel etc only to receive an insultingly small PS? ..... who cares about PS, where is our wage increase?
There, whole discussion done for another year :hmm: |
6K & 3 weeks. Which will be a goddamn joke given their profit
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6k or 3 weeks. The lower of, of course.
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It's to be spent on 20 -8I's :}
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Got 2 days last time from memory, making 12-15 times that profit this time. Formula was last revised to kick in earlier but reduce as profits increased. Therefore max would be 30, min 24ish days, around 3 weeks (since profit share tapers) from analysts estimates of profits. The more we make the less we get, as a ratio, though the amount still increases.
Rumour of a new formula this year, so who knows............. |
The current Profit Share agreement is valid until after the profit share declaration of 2015. So this year would be a good time to start negotiating a new agreement. Given the progress rate between AOA and the company maybe we should have started reviewing it a year or so ago. I recall that in 2011 or 12 that the Annual Results came out without a PS agreement in place, the company saw sense not to use that as an excuse to say "ah well no agreement .... no profit share", I think a mutiny would have ensued.
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a good time to start negotiating a new agreement
Unfortunately it's not negotiable - never has been. It's company policy, from the goodness of their hearts, in its sole discretion, loaded in their favour, all the usual CX get out caveats.
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Originally Posted by AnAmusedReader
Unfortunately it's not negotiable - never has been. It's company policy, from the goodness of their hearts, in its sole discretion, loaded in their favour, all the usual CX get out caveats.
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Both 13th month and paid medicals are included in KA contracts. So negotiation not required.
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If it is a PS AGREEMENT then some negotiation has taken place at some time
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Nice healthy profit.
Orient Aviation March 2014
Hong Kong’s Cathay Pacific Airways is expected to report a robust profit when its announces its full year results for 2013 this month. Analysts predict the airline could more than double the HK$916 million (US$118.2 million) profit of 2012. The positive predictions follow a period of healthy business class travel in the fiscal fourth quarter and higher yields from its premium economy class, which is now being extended from long haul routes to regional services. The airline group is helped by the fact that China and its fast growing millions of wealthy consumers are ambitious and status conscious when it comes to their airline of choice. Cathay Pacific is the right fit for this group, with its emphasis on prestigious premium service, luxurious lounges and a partner, in flag carrier, Air China (29.99%) that sends a lot of customers its way. This month, the airline launches its fifth service to New York, this time to Newark. In coming months it will increase frequencies to Australia, Chicago and Los Angeles and build its code share agreements. Cargo, however, remains deep in the doldrums – after a short fillip in business late last year and a pick-up in the peak pre-Chinese New Year. The airline still is carrying significant over-capacity in freighters. Last month, Cathay added its 12th U.S. freighter destination, Columbus, Ohio with a twice a week schedule. Earlier in the month, it launched a three times a week freighter service to Mexico City. |
Why no thread? 'Cause we can't afford it!
HK $2,000? Gimme a break! |
Thats awesome... I owe that in overpaid allowances.
:8 |
$2000 or half a month if lower.. Who the heck gets paid $4000 per month!!!!
How much did we save with out single engine taxi? :mad::eek::ugh::{ |
How will you spend yours. Mine will go on 300kg of fuel next sector!
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Just another management slap in the face! :mad:
But we got a good faith bargaining agreement - oh boy. :rolleyes: No pay increase, no housing issue resolved, education costs in HK rising, crap offering on LON base, no other base offers forthcoming. But they will TRY to avoid rostering rest periods of 18-30...bollocks! Airbus roster thats all you get! :rolleyes: Keep taking that 100kgs off for management, keep doing the RETI... :ok: |
Classic
I was hoping to get a Ruski at escape, looks like i can only get a flippo now. Tears. Tears of laughter!! |
I should think there's another $39 Million being distributed to a couple of Members of the boardroom too. The payment of $2000 HKD is actually more insulting than not paying anything at all. Such style from our 'Caring' employer.
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You are F..king kidding me! $2,000!?!?! WTF!
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$2000 or half a month if lower.. Who the heck gets paid $4000 per month!!!!
I would guess quite a few groundstaff in India/ China/ Indonesia etc. |
And the good news from the chairman is:
"...we will need to work harder to rein in costs and increase our overall productivity. This will certainly be one of our main focuses in 2014." |
A profit of HK$2,620 million . Yet a miserly HK$ 39 million to be used for profit sharing
I'm glad that I went to work every day, the magnificent HK 2000 bonus makes me feel that it was worth all the effort I put in . All those measures that i took to save fuel, do the right thing , go the extra mile . I really get the impression that the company recognizes my contribution to the bottom line . the profit share equates to about 1.5% of the overall profit (if my maths is correct ) to be distributed to the staff , with everyone getting the same amount . so a cleaner gets the same as a Captain So if 1.5% is what I'm valued at, then I guess I will need to re balance my input accordingly in the future Suddenly I feel very very ill |
Eureka!
I think I'll use mine to pay for my families FOC's....oh hang on, it's not even enough to do that!
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Oh my god, nothing surprises me with this mob anymore.
How many of you chaps feel like shutting down Engines during taxy in now!! What a crock...... |
It is a typo isn't it!!!! :ugh:
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Keep on 'helping out' on those G Days, 'mates'.
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This BS is just further incentive to call unfit. If anyone is using profit share as a reason to avoid booking off, forget about it.
They can take their $2000HK and shove it up their arse. I'll take my 5 well managed, unfit calls each year. I could care less about HDP, profit share or allowances. My time is worth far more than all of them combined. Unless I have a realistic chance at EFP, there is no disincentive. Nevertheless, I'm sure all you company men will just take another one on the chin and keep being good soldiers. I honestly don't know what's worse: the way the company disrespects you or the way you disrespect yourselves. Reduce fuel? YHGTBFKM! Quite the opposite. Why on earth would we help them save money for nothing in return? Who's Putin and who's Obama around here? Pretty simple math, heh? |
Boys and girls, you need to further increase your productivity. What a bitch smack to the face. Ouccch
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Awaiting the AOA letter saying how angry they are.
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Standing by to be flamed but:
$2.6B profit on 100B turnover is a 2.6% margin. Not something I would consider acceptable on anything I would invest in. Dividend is 1.4% for shareholders. 2.99 months profit share was paid in 1989 on 20% margin - i.e. 20BN + profit on current turnover. No excuse for any managers to take anymore than the profit share though. Back to the pay negotiations - since future years look brighter as this result is with the cargo part of the airline severely underperforming. |
Well. duh. It is a commercial organisation. What companies ever say "screw it, time to sit back and relax"?
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Sydneyman ....still wiping the tears away from eyes...best chin up I have seen ever.
As for the 2k you know were that miserly offer is coming out of you management tossers....it will be coming out the expanded fuel bill your pissed off pilots will be giving you |
:ok::ok::ok::ok::ok:
I'm in the money I'm in the money I've got alot of what it takes to get along I don't get out much.....will 2K get me a decent hooker or is there a co-pay ? |
The reality is that you get paid what you deserve.
So keep helping out boys, keep answering those phones, keep not calling in sick (wtf?), keep using discretion, and keep knocking 50 or 100kgs here and there to help out. Your efforts are truly appreciated. For all those of you that do this, I dedicate this profit share to you. Frankly, I think 2000 is way too much money. I would have gone with a figure closer to the pay rise we got on Jan 1st. And forget about looking to the AOA for help on this. They sold us out for "good will", which they feel is there. Looks like they where right! :ok: |
If all pilots give all their profitshare to the Sunnyside club and ask that all management and Directors do the same it could be an entertaining SCMP story:ok:
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Set up a recruitment , placement service for Cadets
I'd happily give 50% to Sunnyside if the other half is actually used for something that could make a difference to us aswell.
The other 50% should be used to fund a comprehensive package placement deal with another carrier for a big chunk of our experienced Cadets. Cx are just taking the piss, these guys cannot plan families and careers. They are and will continue to use them as porns to erode our conditions, while increasing our productivity at the expense of our families. (Esp considering the inflation in HK) Is there a said Cpt in Syd C.S. that has a recruitment agency? Maybe he can help set up bulk package deal. Any Cadet's willing to start a Wanna be list. I heard there is already a whatsapp list going around? |
I hereby pledge my $2000 to Rick Patterson, YVR.
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Something along these lines |
It's quite refreshing that they do not even try to conceal their contempt for their own staff!
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