To put the numbers in perspective.
In 2009 we took a 15% pay cut (78-92)
Since then we have had raises totaling 5.5% - this does not include step 3% - that is not a raise.
So we are down 9.5% since 2009. A 10% pay raise on top of step gets us monetarily back to square one. I won't even go down the QOL rd.
So anything less than 13% on June 16th will be another "take it or leave it" mgt model move.
On the target next year - perhaps some, perspective:
The runway closure cost 1.7bn - so if we add that to 5.5bn we get 7.2bn.
If oil stays between 58-73 (FTs analysts ranges for FY '15) then we have a chance at 7.7bn as this years profit had six months of $90+. The fuel savings to the bottom line in Q 3&4 were 1.5bn. If we get 12 mos at sub $70 - 8bn is doable without a global 'event'
It won't be nine weeks - that's for sure.
So roll on June 16th....and let's see if they are really serious...otherwise with 20+ deliveries they will need to park planes or increase the monthly flying to high 90's - unsustainable.
f.