EK profit share target.

[harry the cod]

There is a rumour starting to gather pace regarding a new 'profit share target'. Whilst I try hard to ignore stuff like this, there may well be some truth in it.

Apparently, some commercial meeting was held last November in which it was announced that the profit target had been 'underestimated' and that the target was now being revised upwards by a further 800 million. I thought this was plain rubbish so decided to troll through the portal and Groupworld to see what the target was. There is no record of this years financial target, it appears to have vanished! Can anyone remember what it was (4.4 Billion?). Perhaps i'm looking in the wrong place but I can't find it anywhwere. Furthemore, this might follow on from a senior HR manager who was told recently to 'manage the profit share expectations of his staff'.

So, just to ensure that i'm not slugging my guts out for a bunch of deceitful two faced knobs and am in fact working for a respected professional and trustworthy Company, perhaps someone can assist me in getting this 'rumour' quashed.

If it isn't, the consequences for the Company may be far graver than they could ever have imagined. Loss of trainers, work to rule, no discretion, 1 hour reports, sickness increases, lower standard of applicants in all areas, low morale........That last factor should never be discounted. Miserable cabin crew equates to poor customer satisfaction. That means people stop flying and stop recommending EK. Less seats on bums means less income for the airline. We would then have to become even more efficient and, based on current work rate, staff would simply leave. I would definately be one of them. :mad:

Harry

[Khaosai]

Hi Harry,

no idea what the profit share/bonus will be, but no discretion, sickness increase and low morale have been there for quite a while.

[CAVnotOK]

I believe the target was set at USD1.45B, which would be about 5.35B Dhs.

Sound about right??

Time will tell what level of integrity Emirates decides to employ on this one, however staff satisfaction is going to go a hell of a long way to providing and ensuring customer satisfaction.

Cav.

[emratty]

The target is 4.25 billion dirhams it is on the portal under the chairmans report for the last financial year.
The profit share this year will be good >12 weeks.

[helen-damnation]

The profit share this year will be good >12 weeks.

Hahahaha LMAO :mad:

That's got to be the funniest/most naieve posting this month :ugh:

Emratty, with all due respect it should be about 18 weeks on current projections. However, you'll never see that in the current climate. We are about the only thing proping up Dubai and you'd better believe that we'll be paying a HUGE dividend to HRH.

If you're really lucky.. 10 weeks.
Most likely.. 8 weeks and 3%, which is better than a slap in the face BUT won't appease the workers :=

[Rotaiva]

It always amazes me that people resort to 'playing the man rather than the ball' on this forum!

'Emratty' was kind enough to cite where the profit share value was to be found - a fact! and then offered his opinion for bonus.

Is your opinion more informed?

[harry the cod]

Thanks emratty, blood pressure back to just above normal again. If they havn't changed it, I guess they can't fiddle it. Well, not by too much anyway!

As an aside, is it just me or have others wondered why it always works out to be an exact week, for example, 4 weeks profit share or 8 weeks etc. It's never 4 weeks and 5 days. I guess they must round it off to the nearest week. I wonder which way they round, up or down? :rolleyes:

Harry

[Praise Jebus]

ICD the EK Holding Company has a $4b+ debt to roll over or pay in May, perhaps they might take a small slice of the profit......

Full: Dubai prepares for the next step - The National (http://www.thenational.ae/thenationalconversation/industry-insights/economics/dubai-prepares-for-the-next-step?pageCount=0)

[pool]

The profit share will be what it will be. We get ripped off anyway with the flight pay scam, so it's a little more or a little less.

If a salary increase of 7% (loss of the preceding years) plus 3% (step) materialises, the trigger for productivity pay goes to back to ~80h and a small profit share of 10 weeks appear, THEN we might start gaing some motivation again.
I will never 'punish' the morons by deliberately using more juice, I think that's equally moronic, but anything less than above will leave me at the apathic and numb way of functioning, which basically means that I will not engage more brain than necessary or more enthusiasm than what makes me survive and not get noticed by the morons. Like most others.
(This in itself apparently results in a loss of some 1% of total flight cost. I can't remember where I read a good such analysis, by I think LH some 10 years ago. Maybe some gentle German soul can point me to it again).

[Gillegan]

They can make the profit, and thus the profit share anything that they want. All they have to do is pay the government BEFORE the final accounting. They have done it before.

[Bird On]

Post #10 + Post #12= :{:sad::(
Uh oh!!!!!!

[safari005]

Your Profit Share is in front of you every day.

Flew with a very senior local captain, as we were on the crew bus heading to HQ from one of the Golf bays, the cabin crew were discussing profit share. His response was, look left, as we passed the new terminal. He said that emirates paid cash to have the project finished as the government has no money. Things have really ramped up on this site after coming to a standstill, so who knows..........

[Desertweasel]

Your Profit Share is in front of you every day.

Flew with a very senior local captain, as we were on the crew bus heading to HQ from one of the Golf bays, the cabin crew were discussing profit share. His response was, look left, as we passed the new terminal. He said that emirates paid cash to have the project finished as the government has no money. Things have really ramped up on this site after coming to a standstill, so who knows..........
Have heard this on pretty good authority as well, extraordinary payment to DCA to finish the airport, naturally this comes out before PS is calculated

[Bird On]

Upon reflection Emirates knows now and probably has for several months known where any Profit "MUST" or has been be allocated.
This being the case, an honest, forthright and upfront company would have communicated this to all staff in order to properly and humanely manage their expectations particularly in light of all the bragging about the massive profits Emirates is making. What reason could "they" have to not be upfront with all staff and potential recruits?
As nothing has been said otherwise this years bonus must still be as everyone is expecting.

[cerbus]

Has anyone heard that the EK managers got a special bonus in Jan? Word is that MM got $100,000 US for his work up in Abu Dhabi in saving the FAA audit and the other twats got their's accordingly.
If this is true it will cut into our 20 weeks profit share.