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Sunday, 9 December 2018

Cathay Pacific to raise staff and cabin crew salaries in spite of losing money

CX, in spite of being unprofitable since 2016 has announced that it will raise the salary of its staff and cabin crew between 3% and 8%. It also wants to give its staff and crew a one month bonus.
For the first 6 months of this year, it has chalked up losses of HK$263 million.
Most companies would have cut jobs (CX cut 600 jobs since 2016) and reduce salaries under such circumstance but not CX. Many would have put themselves in the panic mode but not CX....but why?
Answers....CX is confident it can turn around and be profitable again if its staff and crew are well taken care of.
The morale of the staff is high and with such caring management, it will SOAR (sounds familiar?)!
What do you think our national carrier will do under such precarious situation?
I would like to hear your views.

5 comments:

Anonymous said...

Admirable CPA!

Anonymous said...

There is no free lunch.

Anonymous said...

Act like Trump,increase pay by 10 now,then 25 if no action.

Anonymous said...

IF THIS POSTING IS TRUE, THEN IT CLEARLY SHOWS THAT AN AILRLINE LIKE CPA IS EXERCISING ITS PREROGATEIVE WITHOUT FEAR OF OFFENDING THE HIGHER UPS AS CAN BE SEEN IN SIA. INCIDENTALLY,CPA IS A PRIVATE ENTITY OWNED BY THE SWIRE GROUP, FOUNDED BY SIR JOHN SWIRE. IT DOES NOT NEED TO LOOK OVER ITS SHOULDERS FOR FEAR OF SERIOUS REPURCUSSIONS OR OFFENDING THE HIGHER ECHELON.

Anonymous said...

SIA cannot afford to emulate what CX is doing. It has been losing millions for many years. Do not forget that aircraft purchases are financed by banks and mortgages need to be paid regularly. To make matters worse, SIA building at Robinson Road was sold for a song some years ago. This pales in comparison to International Plaza at Anson Road which has announced it sale at $2.8billion recently.

This does not include the $600million pounds SIA paid to Virgin Atlantic for a 49per cent stake, $400-$450 million to NZ and Ansett some years ago. What happened to Vistara and Virgin Australia?