PPRuNe Forums - Nothing in the kitty

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Nothing in the Kitty City.

Quote:

Originally Posted by Sqwak7700 (Post 10225039)

Are these the same geniuses that where giving failing investment firms buy ratings during the last financial crisis? Or are they the same ones that predicted fuel would go up and purchased said hedges?

I think the the world would be a better place with less of these financial analysts and clueless managers.

Quite often your point view is right on about a lot of the industry. Fallible as they may be, executives still care quite a bit abo.ut what the analysts who cover their company are saying. If you could get some of those analysts to make the connection about what is going on in the trenches with you guys.... and that poor industrial relations can lead to things like Eastern Airlines...

I’ll put something in her kitty for her 😜

Quote:

Originally Posted by unitedabx (Post 10223225)

On Friday I had the pleasure of having my lunch ( tuna and tomato sandwich and ginger ale ) sitting opposite a young woman who has recently joined CX from EK to improve pilot recruitment. She asked if I was a pilot (yes) and what fleet (777). I didn't know CX had 777's was her reply. I thought CX only operated Airbus. No I said that is Cathay Dragon. I reruit for them too was her answer. I bet you are struggling to meet your cadet quotas I asked. Yes she said and asked me for any suggestions. You get what you pay for I said. Up the package being offered and your numbers will improve and then tackle the many other issues to retain the pilots. We can't up the package she said "there isn't any money in the kitty for that". Pity I said because thats what it will take to get numbers rising. By the way why did you leave EK to join CX I asked. Her answer " a better package of course ".

The sadness is that she saw absolutely no problem or felt the need to mediate her comment.

Right now, down under Qantas has yet another operation designed to circumvent exiting terms and conditions, it is called Network Aviation. It was a few decades ago a charter operator with a C99 and a few other twins.
It is now an A320 operator in Qantas colours no less in YPPH.

At the regular headfest, the HR management asked the operations people about why the 'package' fails to attract sufficient interest and they are always politely reminded that their JQ DHC 8 operation in NZ, Jetconnect and indeed Cobham contracts (of which Qantas own the aircraft) have similar problems: remuneration.

The circularity of their stupidity is simply because for the last three decades, supply of pilots outstripped demand. Therefore HR/IR got lazy and incidentally wealthy stripping salary out of pilot's pocket.
They will do everything, before doing the right thing and restoring remuneration to the point where the skillset, cost and time taken to acquire are adequately compensated. Many circular 'meetings remain...

Has anyone else been approached about taking early retirement ?
I was asked informally last week if I would be "interested".
I asked "on what terms?" and was told a package might be in the pipeline.

Without giving too much away, roughly on which page of the seniority list would you be, unitedabx?

Quote:

Has anyone else been approached about taking early retirement ?
I was asked informally last week if I would be "interested".
I asked "on what terms?" and was told a package might be in the pipeline.

Wind up alert. Critical levels for STCs and you say they are offering redundancy to the group that contains them?

Maybe it's just you unitedabx?

Some people have been asked, some have not.

Makes No sense! I’ve asked about unpaid leave and told not a chance.

Quote:

Originally Posted by OK4Wire (Post 10232198)

Without giving too much away, roughly on which page of the seniority list would you be, unitedabx?

First page, top 20.

No it's not just me and I can't accept anything anyway due family issues. BUT two more of my era have been asked ( informally ) the same question. CX did this before and culled about 100 skippers. It makes financial sense and frees up advancement form RHS to LHS and into C&T.
One months pay for every year over 10 years served plus 3 months severance. All tax free and retirement staff travel immediately. If you have 25 years plus in the company and less than 3 years to go it makes perfect sense.

If you are a little younger you might want to take it and move somewhere else to finish your career. The company doesn't want expensive captains anymore. They save on housing, schooling, medical, pension for a payout they would have made anyway.

I only wish I was in a position to take it.

For some it is a golden ticlket out and I am told it will be offered soon.

Sounds similar to the SVS (or whatever it was called) in the mid to late 90s - can't remember how many took it then.

Top 20, eh? Only 4 are based, so I guess the rest would indeed be expensive, dollar-wise. And that is just typical, getting rid of the experience that this ~~airline~~ flying club so desperately needs.

...the cost of everything, and the value of nothing.

Quote:

Originally Posted by Clear_sky (Post 10232316)

Makes No sense! I’ve asked about unpaid leave and told not a chance.

You can’t get unpaid leave because the crew managers are honestly clueless and incompetent so the default response is, “CANNOT”

Shedding the top of the seniority list is from further up as a strategic decision that has nothing to do with operations.

With the airline contracting, it makes perfect sense to offer redundancy to the most expensive crew it employs. This would not include based pilots only HKG since the savings are in housing, schooling, pension and medical. The new GMA is no stranger to this concept. In the cull of last summer the packages offered to the expats was "generous". Long term it makes sense and is common practice in the corporate world. Watch this space.

Or mayyyybe it's just a good rumour to spread to keep senior guys around a little longer...

Quote:

Originally Posted by unitedabx (Post 10233369)

Agree - wouldn’t be at all surprised. Plus if it hastens the end of “legacy” contracts savings in admin.

They can put any redundancy package where the sun doesn't shine. Not for sale at any Swire price. I am enjoying costing them the maximum I can, each and every month.

Totally understand your stance AirProfit BUT if you were offered 3 years pay (tax free) and had 5 years to serve before retirement which would you take ?Do the maths and you are thousands ahead if you take the deal plus out of this outfit 2 years early. This offer IF made will be to every captain over 50. For some it will make no sense. To others it might be the incentive to leave early and for many it will be the golden handshake they will never get if they plod on to 55/65.
Would you really give up the chance of some tax free cash up front simply to be able to continue sticking it to a company that couldn't give a sh++t what you do.

1 month for every year served over 10 . So if you have been here for 30 years that’s 20 months plus 3 for redundancy
that’s less than 2 years .
however if they increased it to 3 years tax free I think a lot of people would grab it, then go and work for another carrier

I'm with Air Profit. If it's not a generous offer, there is no chance of accepting it. I'd rather cost the maximum possible for my remaining years. The day's of being bought off cheaply by this mob are over.