VR
Some basic maths.
Ok, so I’m a 59-60 yo A380 captain
Most likely stood down for the next two + years with no income.
I have turned down the approx $400,000 VR offer after tax
Now returned to service two years later for the last 3 years to retirement
And earning my usual $500k p.a.
But, after tax, that’s about $300k p.a.
Not too bad eh?
$900k clear over 3 years
But I knocked back the $400k VR payout and was idle for 2 years.
So, that’s $900k over 5 years.
$180k average per year.
Is it worth it ?
The next few years will be ugly with airline management
turning the screws on legacy entitlements,
and with rumoured reductions in guaranteed
credited hours, even $180k p.a is highly optimistic and
most unlikely.
Think I’ll tick yes for VR and escape with whatever youth and
health I still have, and go off and smell the roses.