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Fragrant Harbour A forum for the large number of pilots (expats and locals) based with the various airlines in Hong Kong. Air Traffic Controllers are also warmly welcomed into the forum.


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Old 30th Apr 2008, 11:42   #1 (permalink)
 
Join Date: Jul 2004
Location: OneDegSouth
Posts: 62
Emirates Profit share

Emirates group received 14 weeks profit share!!! Versus our 4 weeks....

And there is talk of another pay increase.....

Come on AOA...
Arcla is offline   Reply
Old 30th Apr 2008, 11:52   #2 (permalink)
 
Join Date: Mar 2001
Posts: 146
.....and they don't pay tax AFAIK
Abbeville is offline   Reply
Old 30th Apr 2008, 12:16   #3 (permalink)
 
Join Date: Aug 2006
Location: Anywhere
Posts: 77
and we get paid a shitload less than you guys...
vbrules is offline   Reply
Old 30th Apr 2008, 13:49   #4 (permalink)
 
Join Date: Nov 1999
Location: Sai Kungah
Posts: 202
Actually, I don't think you do!

NC, would you mind dragging out that spreadsheet?
jed_thrust is offline   Reply
Old 30th Apr 2008, 13:54   #5 (permalink)
 
Join Date: May 2002
Location: Here and There
Posts: 100
vb,

No you don't. There are plenty of comparisons going around and if you put your 14 weeks into the mix you blokes are doing much better than we are. Not to mention that you have a payrise in your near future - wouldn't that be a novel idea at CX!

Things seem to be getting better and better in the sandpit and worse and worse in HKG.

Surely the time is getting nearer when a bunch of blokes pack up shop and head for the desert. Sometimes a change of scenery is all you need!!!

w2
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Old 30th Apr 2008, 18:28   #6 (permalink)
 
Join Date: Aug 2006
Location: Anywhere
Posts: 77
Am not arguing but is common perception you guys are the best paid in the world. 8 years in EK, 5 as skipper salary USD9400. some flying pay...max 1000 a month. plus benefits. most here do not take housing allowance as is too expensive and is about to turn to shit anyway; rest of us get free housing but that doesnt help the pot at the end of the rainbow. I think thats where you guys win yeah?
All I can say is it'll never be as good as it was and we gotta take what we can and make it work for us as best as we can.
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Old 30th Apr 2008, 19:44   #7 (permalink)
 
Join Date: Feb 2000
Posts: 38
Action speaks louder than words. How about logging onto the Emirates career website and start filling out the blanks?
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Old 30th Apr 2008, 23:35   #8 (permalink)
 
Join Date: Oct 1999
Location: Adelaide
Posts: 634
If you think Honkers has turned to crap, pollution etc, then the sandpit these days will only place you in another craphole. The only lifestyle tradeoff you'll achieve with EK is if you need to be closer to Europe than you are.
Same sh1thole, different coloured pollution. Once it was liveable now it aint.
SeldomFixit is offline   Reply
Old 30th Apr 2008, 23:55   #9 (permalink)
 
Join Date: May 2002
Location: up here, everyone looks like ants!
Posts: 771
Well, they work like Trojans and they deserve an increase. Good on them.
Cpt. Underpants is offline   Reply
Old 1st May 2008, 00:51   #10 (permalink)
 
Join Date: Aug 2007
Location: Oz
Posts: 20
Anyone know what the profit was?
pacific blues is offline   Reply
Old 1st May 2008, 02:34   #11 (permalink)
 
Join Date: May 2006
Location: uk
Posts: 37
Group profit up 54.1% to AED 5.3 billion (US$ 1.45 billion)
Airline profit up 62.1% to AED 5 billion (US$ 1.37 billion)
Dnata marks net profit of AED 305 million (US$ 83 million)
20th consecutive year of net profit for the airline and group
Ownership to receive AED 1 billion (US$ 272.5 million) dividend
Groupís estimated contribution to Dubai economy worth AED 47 billion (US$ 12.8 billion
pissedoffpilotek is offline   Reply
Old 1st May 2008, 03:20   #12 (permalink)
 
Join Date: Feb 2008
Location: earth
Posts: 44
EK made a similar profit to us, i think even more and we were only required to be given 16days profit share but in the kindness of the hearts of our beloved management they gave us one month...its all making sense now, CX loves us more than EK!! NOTTTTTTTT
azamat69 is offline   Reply
Old 1st May 2008, 12:01   #13 (permalink)
 
Join Date: Oct 2006
Location: Hong Kong
Posts: 551
EK vs CX profit share

If CX had made the same profit margin as EK we would have got about 36 days of PS, plus the $6K! Interestingly under the old PS formula it would have been 39 days.

To compare apples with apples add on the 13th month, aka the "annual discretionary bonus", and CX PS would total 9.5 weeks. So I think we know which airline is more parsimonious!


EK salary vs CX - after 10 years at EK you would be about 35% better off than CX - assuming command at EK after five years. That amount ignores the EK profit share over and above our equivalent 13th month. It also ignores ERP as technically that should wash out over a few years.

Its very hard to compare two airlines remuneration systems. Many little factors add up to big numbers. ERP, untaxed housing and education allowances, lower threshold for EFP, free utilities etc. It all adds up.
Its the intangibles that will influence which airline is better - closer to Europe or Aus? Cheap cars or cheap public transport - inflation vs inflation and pollution.

VB rules - buying a house in HKG is not the financial panacea to our inferior salary levels. This was clearly pointed out by a previous AOA president. I have provided numerical examples on other threads but very briefly for $10m HKD ($1.25M USD) you will get a 1,000' flat near town or 2,000' way out of town and the CX housing allowance will cover it and let you build up equity at about 1-2% pa. So as long as the market goes up or sideways you will make headway. One of the 49ers bought a place in 1997 for $5.2m that was worth just over $1.8m when he lost his job 4 years later - caveat emptor. As Warren Buffet says, its only when the tide goes out that we will find who has been swimming naked.
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Old 1st May 2008, 15:19   #14 (permalink)
 
Join Date: Nov 2006
Location: London
Posts: 35
I am happy to stand corrected, but am under the impression that a week is 5 days in Dubai, so 14 weeks is more like 11 weeks in the real world
4engines4longhaul is offline   Reply
Old 1st May 2008, 18:42   #15 (permalink)
 
Join Date: Sep 2007
Location: hong kong
Posts: 117
All these comparisons include 13th month salary for CX, but 50% of CX pilots don't receive this cause they are based. But I'll take less money for clean air....
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