Kachjc

eh?
2010 CX posted its largest profit ever
2011-2013 was the time to expand rapidly- like the rest of the world
instead CX just sat

while HX became stronger
QF/AA all became stronger


CX launched Milan during that time period- Cute

CX now has under 40% slot share....

Double in size?!! hardly, CX in 2009 had 126 aircraft
CX now has 146 aircraft...- you would not need to double... ( 20 aircraft growth in 8 years- in Asia- the fastest growing and most populated place on earth)

CX would not have had to double....

short term investment for longterm gain- no new runway till 2030- CX would have been raking it in for 15 years...
instead the let HX grow to a sizeable threat
just look at Auckland- the fact that HX can sustain more capacity their than CX is an indicator of how CX just let competitors takeover.

peasant

OK - more than double.

66% of slots were filled in 2009 (source, HKIA)
CX/KA ISTR had 45%. So 30% of full HKIA capacity
To fill all slots, they would need to add 34% (66+34)

34 is over twice 30. To add that in 4-5 year time period would mean growth rate of20- 25%.

And CX/ KA/ AHK have about 190 aircraft, not 146.

Marco Polo

https://en.wikipedia.org/wiki/Cathay_Pacific
On 26 September 2012, 11 years after they were sacked, the 49ers were finally judged[41] to have won the 3 prime issues of their legal case: breach of contract, breach of the Employment Ordinance, and defamation. The Court of Final Appeal agreed with the Court of Appeal's methodology for reducing the defamation damages. However, it reinstated one month's salary for each of the 49ers.
Regarding breach of contract,[42] the overall picture leading to dismissal and events immediately after will be analysed by the courts, not just the dismissal letter. Regarding the Employment Ordinance, an important aspect was that the judgment defined the scope of "union activities" and its protection for workers in Hong Kong. The Court concluded: "Accordingly, most (possibly all) union-sponsored action is potentially protected by s 21B(1)(b), but if the action is not carried out “at [an] appropriate time”, it is excluded from the provision." There was no challenge by Cathay Pacific to the Court of Appeal’s decision to uphold the {original} Judge’s conclusion that the statements made by Cathay Executives were defamatory of the plaintiffs.

brunos

Indeed, CX has given notice that it will reduce the allowance for suitable housing for old pilots. I don't think that a maximum amount is specified in the contract. This is very different from work conditions and pay scale. It was an expat perk needed years ago to attract foreign pilots.
BTW, the "pilot-shortage" mantra might be a bit misleading. CX has no problem recruiting pilots at the current working conditions. And senior (old) CX pilots are unlikely to get similar terms, even after housing adjustment, anywhere else. Favorable perks for "old" pilots exist in many legacy airlines, but airlines simply do not recruit new pilots under these types of contracts anymore.

christep

Let's be clear that the most senior CX pilots have total packages in excess of HK$5M per year. That's approximately 30 times the median income in Hong Kong, and more than HK's Chief Executive (already one of the highest paid political leaders in the world) gets paid.

And those pilots only work about 10 days a month, and they get to travel in at least business class, more or less for free, worldwide, whenever they feel like it.

deadinabsentia

Lets be equally clear.. its not just OLD pilots.

My friend is 39 married to a local girl and makes not even 1/3 of what you posted. He gets "full" housing. Your numbers are way off.

Business Class Long Haul is near a $1000 USD on Standby RT... and shockingly.. FULL most of the time so his family buys tickets.

No one works 10 days a month. NO ONE.

Lastly.

The Director of Flight Operations Anna Thompson received 4 million in Housing last year, and Rupert Hogg CEO received 10 Million.

Neither are taking a pay cut.

This is simple corporate greed.

christep

They are from CX's annual report and accounts.I know several CX long haul pilots. They do 2-3 round trips each month. By normal people's definition that's at most 12 days work.

sxc

Where can you find pilot pay on an individualised basis in the accounts? I’m not saying it’s not there, I’d like to see it though.

Remember pilots also have mandated rest days. Once you factor that in, 12 days isn’t far off the standard 20 day working month.

CX HK

They, too, are overpaid, and agreed they should also get a big pay cut, along with the pilots. Truth of the matter is, everyone's been living like its pre-2008; its about time things are brought back in-line.

tfung

It's in the annual report... Not specific individual pilots, but I remember a section that vaguely lists out the top 10 earners in the company, of which a number of them were pilots...

sxc

Accounting standards require the pay of Directors and Executive Officers to be disclosed. None of them are actual pilots (and disturbingly this includes the Director of Flight Operations who earned almost $6m). Aside from this there is a note: "The five highest paid individuals of the Company included three Directors (2015: four) and two executive officers (2015: one), whose emoluments are set out in note 25 above. "

I don't see any information that can infer how much the top earning pilots earn.

brunos

That's simply wrong. ID ticket cost much less (maybe you are talking HKD1,000) and pilots have total priority. But if a flight it's full, it's full; but unfortunately for CX, this is not "mostly" the case.
You might be referring to confirmed staff ticket, but that's quite different.

sxc

Staff tickets are 10% of the full fare. A LAX J class ticket is around $73k plus taxes so yes a J class return ticket can be $1000 USD.

And I have been also told that staff travel is very difficult to get on unless you’re very flexible - even for pilots.

deadinabsentia

They aren't Chris..

But I'll tell you a Capt would make low 100's + housing varied from 24K to Mid 60's


So if he averages 180K X12... you'll see a Senior guy makes 1/2 that 5 million figure.


A FO would be mid 60's + Housing.. So maybe 120K X 12.. 1.64


No one makes millions at CX but the Directors..

deadinabsentia

I'm on a staff ticket with friend tonight.. each ticket was over $500 usd ow to North America.

You're wrong.