Very good news and somewhat of a pleasant surprise.

Has anyone worked out what we would have got with the old formula yet?

Very pleasantly surprised!

Thanks Cathay! I'm off to buy something I don't need.

What is the cut off date for Profit Share?

Ie if you started in March (last month of the 07/08 Year) Do you get any?

AAIGUY,

cut-off date is DOJ before 30 September 2007 I believe. That is the way it seems to read under 'exceptions' in the profit share policy.

Please correct me if I am wrong.

the year is actual from jan til dec. so if you joined the company before the 30thSept then yes you will get profit sharing (pro rata of coz).

actually, thanks to the crew shortage, we are already getting a bigger share of the pie. :}

Well done CX! Now just bring on that 20% pay increase....:E:E:E:ok:

Old Profit share
 

Using the other half of my chicken entrails I calculate that the old profit share formula would have given about 10 days and $6,000. The new formula pays more at lower profit levels. By lower profit levels I mean profit versus turnover not the nominal level. The old profit share formula pays more than the new one when profit, as a percentage of turnover, is in excess of 20%. So we would have needed a profit figure of around $15billion before the old formula was better!

To whoever asked the question....the payout is based on your December 07 salary.

Must admit a nice surprice. Thank you CX.

Before those of you who are making cosy noises about the bonus get too complacent, this bonus does not do justice to the massive efforts of the staff in all departments over the last few years. Ask yourself why they have to make the point that it is either half of the individual monthly salary or HK$6,000 in local currency equivalent, whichever is lower. There are many staff on less than $12,000 a month.

That they can announce such an increase in profit with a straight face shows that they have forgotten the fundaments of business. (1) Do not rip off your customers, and (2) do not rip off your staff and constituents.

Remember that their finance people are very sharp, and will have reduced the profit to a level which the board believed would be acceptable to the stock market and the shareholders.

These are good figures, but they are earned on the backs of the staff and the traveling public. It would have been more politic to have announced a figure of around 10% growth.

It's crap given the profit... thanks for nothing much CX!

Greed
 

cpdue and moose!!!! ..er moosp
I bet you two are a real pain in the ass. CX just gave us twice what the formula says and you to idiots can't even keep your big mouths shut. The profit is not earned off the employees back, the employees are paid a salary every month for that. If the employee doesn't like the salary they (now listen up this applies to you two) can leave.
Grow up:mad:

cpdude are you for real?

Are you unaware how much idiots like you do a disservice to the image of the Professional Pilot?

You seem to have just one functioning mode...WHINGE.

Cathay is no doubt a company with many problems and faults. You are one.

I presume any days off sick or compassionate will reduce your share?

How will that work on shore in Europe - sounds like discrimination to me

CXFlyer,

Let's see here...CX posts a 71.8% increase in profit with 7.02B. It's not only a record profit but exceeds analysts by over a billion. This is not just a good year but a remarkable year.

Our reward is 16.5 days? Oh so they increase it to a month to make us feel good? What would it take to get 2-3 months? Apparently 30+Billion!

No the greed is with the executives who will likely be taking a year+.

Also, I understand SQ got 6 months...again!

I guess my disservice to our profession is the cause of all problems at CX.:yuk:

I think I am starting to see why the ladies and gents feel so "unhappy". It's because the objective is unclear.

This is such a teeny tiny gesture which in proportion shows no appreciation, in fact it is an insult.

For some this might be a lot of money, but I personally feel that standard of living and the quality of life is a lot more important than the meagre bonus.

If CX really wants to make people happy, start with the PEOPLE! benefits, respect. That's how a good working environment is fostered.

but again, it's a 2 way street. if monkeys cry, give them some bananas. If they stop then we're good. If they don't stop...well we'll find more monkeys...

My Mother taught me to say thank you when somebody gave me something. CX just gave you an extra half month of salary - so you say thank you. You don't behave like a two year old and scream "I want more...now."

Take it for what it is - a TOKEN of appreciation for some of the effort you put in last year. Yes 20 years ago you might have gotten 3 months - that would be nice - but if you haven't noticed the world has moved on and that will not happen again in this company in the near future.

I have not forgotten the insult of a pay increase we were forced to take but that is a different matter. Today, I say thank you. Tomorrow, I will continue to fight for the betterment of my contract.

Keep it real and as good ol' Mom used to say - mind your manners.

cpdude, moosp and newesso,

I take it this act of screwing you out of more money will be the last straw and you will all be leaving soon?

If not, you guys are hypocrites. Vote with your feet if you are not happy. Go and work for a company that will make your life a lot happier. There are better things to do than sit around and bitch all day about how much you are getting screwed.

It is not the best company to work for but the extra profit share is something nice (for a change), just take it, hand in your resignation and then tell them why. cya

BenCLR8, well said!!!!!!!!!!!!!!!!!!!!!!!!!!
Am very happy with that and as you said will take but tomorrow is another day and our CoS is still a priority for our longevity here at CX!!
Any negative comments about this profit share are naive and unrealistic. We all know TT and his cronies are gonna walk away with a sh4t load of bonuses but i dont care, thats the corporate world for ya.
But tomorrow when they tell us all the doom and gloom is why we cant get better pay and conditions, well needless to say, i wont be happy again!!
For the time being, thank you CX!

Thank you !
 

Thank you Cathay, nice one !


Now, all you need to get B and C SCALERS on side is fair and equal pay for all..

ALL ON THE SAME SCALE. A-SCALE

Until then, no wai, no work on G/O days and no crew direct roster changes.

have to agree a month is nice, but then it seems uncharacteristic behaviour to be giving us things they don't have to....................

unscheduled payrise for UFO and freighters..........2 weeks extra profit share...???

so what are they trying to soften us uo for ???

3 man UKH ???? 92 credit hours a month ???


they want something, thats for sure.................