All its going to take is a crash.
 

I hate to say it but with all the experienced guys leaving after ARAPA, an incident/accident is inevitable. It's only a matter of time(not to win). Cathay's shortsightedness is going to cost the next generation of management, crew, shareholders, passengers and ultimately HKG!!

Everyone is going to pay.

Thank god I'm outa here.

It's been real guys, enjoy!

They budget for hull losses.

To be fair so does every airline in the world - it is called insurance. If an airline thought it's risk of a hull loss was zero they would save the expense.

Which would be stupid, given that hull losses can happen quite happily without the help of crew, experienced or otherwise (for example - Sri Lankan getting its planes BBQ'ed by the Tamil Tigers, or Malaysian airlines getting shot down by the Russians, or writing off an A330 due to undeclared dangerous goods)

I wonder if you can hedge hull loss

Of course you can. Again it is called insurance... You can also hedge your house burning down, or your early death

Freehills, I think Cathay’s hedging has corrupted/confused your idea of hedging.
Hedging is where you invest to offset or reduce a risk.
Insurance is where you pay someone else to assume the risk for you.

In both cases the investment or premium are supposed to be less than your potential losses. In Cathay’s case they have lost far more than they ever would have if they’d bought on the spot market.

Hence it’s not been hedging- it’s been gambling.

Ok we are going way off topic, but gambling and insurance are the same thing.

I gamble that I will die before the insurance company thinks I will. I don’t mind losing the bet though!

CX are poor gamblers, that we know

CX are poor at everything. There, fixed it for you.

And all those locals with 10+ years experience flying regionally around Asia are absolutely unsafe?
Handicapped for their entire career because they didn't have 2,000 hours flying in the bush of Australia before they joined CX?

It's not the lack of joining experience that will handicap them for their entire career. What will do that is the same thing that will cause a HKG taxi driver with a decade of experience to pump his gas pedal like there's no tomorrow, or cause them to fight to get on an elevator before it empties. No amount of experience can fix the culture of spending your entire life in Hong Kong as a local.

Wearing coats because its November, even though its still 28'C outside.

I saw a gweilo wearing a scarf round his neck in Central the other day. They should bring back capital punishment for that sort of thing.

You mean an Austronaut?

Coward Pilot the name really is fitting. This thread is a little scary, it's almost like you are hoping for an incident to occur.

Really do feel sorry for you lot

We aren't hoping at all, not one bit. But, we are all expecting. Only then will all the fears, complaints, reports, letters, stances and thoughts about the current management be shown to be true. And then they will blame the pilots.

Curtain, you are mostly correct, other than the last point. Once that inevitable event occurs, the management WILL get the blame, because people like us will make sure of it.

Don’t they self insure ?

Nope. USD2 billion per aircraft, per event. Underwritten by Lloyd's.

That's only two years worth of hedging losses, might as well save the premiums and self insure.

The lack of quality local FO's is the reason that I gave up. I couldn't take one more day of having to fly each and every sector (because the FO couldn't safely do so) as well as intervening to give correct info on ATC calls when the spiky haired brigade to my right messed up. This is from a corporate and not an airline perspective, but reading some of the postings on this forum indicate it's no better with an Airline.

Interestingly these FO's also seem to have a habit of parker pen entries in their logbook when one actually bothers to look in depth at their previous experience, probably hundreds of hours of non existant experience in some cases. Yet these types of pilots continue to find work and feel that they are untouchable due to their gold bars and uniform, and when I look at these Junior FO's who really cannot communicate in English with ATC it does make me smile when I see they have awarded themselves an extra stripe making 3 bars after flying a couple of sectors with me.

But ultimately blame lies with the training center or at least a certain one (you know who you are) that hand out command type ratings like candy in the hope that their center continues with its 99.9% first time pass rate, and the problem is then passed to the Captain on the line.