I am a little suspicious of this phrase
"
Margin - The percentage of ‘Airlines’ profit divided by audited airlines’ turnover net of recoveries’
As far as I can recall we used to receive 25% of the profit on all profit in excess of 7.5% of turnover(not turnover net of recoveries). A numerical example might help. If turnover was $40B and profit was $4B, well 7.5% of $40B is $3B and so we get to keep $250million(25% of excess). This new scheme, prima facie, seems to provide 3/4qtrs of their percentage of their profitmargin. So in the previous example the profit margin was 10% - take 3/4s of that and we get 7.5% of the total profit($4B)...or a total of $300million...so more generous at that level.
If we had made $3B profit on turnover of $40B, under old scheme that equates to exactly 7.5% so no profit share. Under new scheme it would equate to 3/4s of 7.5% profit margin so almost 5.6% which would be about $168million.
In 2000 we made about $5B which equated to 14.5% profit on turnover. The amount attributable to profit share was 25% of profit in excess of 7.5% or about $600m which if my memory serves me correctly, was about 6weeks? Please any correct me if that is wrong.
You can't equate profit share lump sums from the past to present as they get divided by an ever increasing staff costs pie. But it would be fare to say that if we did make 7.5%, like we did last year, it would probably equate to between 1 adn 2 weeks profit share...but closer to 1 week.