True 4HP, it's still ok around here, no doubt. But:
- Group profit up 49%
- Airline profit up 49%
- Owner's dividend up to 368m (somewhat 15%)
- Rents up est. 20%
- Cost of living, acc. diff. sources up betw. 12 and 20%
Proft share for employees (allthough admittedly a "nice to have") down 60%.
Pay increase for pilots of 8% (plus admittedly 10% housing allowance).
This seems like a great deal. Now do your maths for a similar evolution for the next 5 years, not even taking into account the weakening dollar.
It seems to me that from the moment we got a FMS doing the descent planning for us, we lost our ability to do our own maths, we just follow that white arrow fat dumb and happy. Maybe other deals are worse, but ours will be there faster than most of us want to think.
Most of us are happy to work here, to have a job - period.
But the question is: Why do some owners make more money, tickets cost almost the same and only employees get a weaker package?
Cheers ttn
Last edited by turtleneck; 11th May 2005 at 12:27.