And the EK Profit Share is... and Emirates Profits Merged

[Luckyguy]

Emirates posts 51.9% surge in annual profits, to $1.5 Billion.

I hope they reward you accordingly.........

[SANDBLASTER]

Breaking news on Sky. Emirates profit up 51.9% to $1.5 billion.

[donpizmeov]

I saw that. Not looking good for the bonus as we needed $1.35billion for 2 weeks. Good to see the corp PR people didn't release the news too early.

The Don

[CAVnotOK]

Is that the profit for the Airline, or the entire EK Group?

[MosEisley]

I'd like to see the books on that one to see how much was paid out to service Dubai's debt. I know we actually made much more than that. They were over 1 billion at halfway through the fiscal year. Glad to know we are financing their mistakes.

[SANDBLASTER]

Good point. Let's hope it's just the airline and the rest of the group have made shed loads!!

[springbok449]

Is this after the money they have injected into the Dubai economy, the new terminal builders, paying off the bonds, etc?

[CAVnotOK]

Let's hope so......

2nd half of the year has always been traditionally stronger than the 1st.

Someone has been in the kitchen cooking those books!!

Cav.

[MosEisley]

Here is the article from November stating $925 million in the first six months. So are they saying we only made $575 million in the stronger half of the year? That profits dropped almost 50% in the second half of the year?

Emirates Airline's Profit Soars - WSJ.com (http://online.wsj.com/article/SB10001424052748704141104575587704039602246.html)

[a345xxx]

Now its getting worrying!!! :mad:

[SOPS]

Just thinking the same thing:rolleyes:

[donpizmeov]

Good point Cav....guess we find out soon. I read in the Gulf business that EK paid off a $500million bond in March.

Keep recovering

The Don

[MosEisley]

Don, you're right, and there's the missing $500 mil

[Hook]

Gulf News reporting the profit is for the whole group not just the airline - someone has indeed done plenty of cooking....and it stinks.

[777boyindubai]

Not to mention the $$$ taken for Concourse 3. :ugh:

[rascott3888]

Quick summary of group results in usd billions

1st 6m 2nd 6m Full year

revenue 7.2 8.4 15.6

net profit 0.925 0.675 1.6

margin 12.8% 8% 10.3%

cash reserves increase 0.529 1.0

pax 15.5m 15.9m 31.4m

Profit Margin down but cash reserves up implies big provisions or write offs in second half of year...or there were some adjustments to first half numbers - I am using the half year numbers published on 1/11/2010.

Done in a hurry so happy for anyone to check my maths !

[rascott3888]

Annual report:2010/2011

EK profit share scheme 2011-aed 770million compared to 2010-aed 175million.

[palmdeira]

2 billion dirhams handout to Dubai - or as it was quietly mentioned on the sidelines, 'dividends to its shareholder'. Reported by Gulf News.
Based on last years results we'd be lucky to get 10w
:mad:

[777w]

Gulf news in reporting that EK has paid its major stakeholder, the Dubai Govt. 2 billion dirhams in dividend !

[Wizofoz]

What?

A profitable business paying a dividend to it's owner?

That's not a normal business practice, is it?:rolleyes:

[nolimitholdem]

HAHAHAH how predictable! the Wiz to the defense...

But wait, I thought EK was quite independent and at arms length from government influence/subsidy/blah blah blah...seems to me anyone handing over a couple billion dirhams to their masters might be a little more in bed with them than always claimed.

The best bet with these clowns is to keep expectations as low as possible, and then you're never disappointed...

[MosEisley]

Cmon Wiz, you know as well as the rest of us that we are only govt owned when it suits them.

[Wizofoz]

NLH and Mos,

Got any money invested in shares?

Do you take part in the day to day running of those companies?

If they make a profit, do you expect a dividend?

[skytrax]

ok. how many weeks for the workforce?

[330 Man]

Hey Don I think you are wrong on the 2 weeks statement.

We are supposed to get 2 weeks minimum if we meet target. The target for this year was 4.25 billion DHS which we exceded with the 5.9 billion group profit.

The formula is 2 weeks bonus if target is met and then 25% of all profit exceeding target is SUPPOSED to go to employees. Wonder if they will stick to the formula.

I have pasted right out of the employee manual for everyone to see the formula.

Regards,

330 man

4. SCHEME PAYMENT FORMULA

The initial profit share payment will be two weeks basic salary for all eligible employees if the profit target for the relevant financial year is achieved. Thereafter additional payments will be 25% of profits in excess of the profit target for the relevant financial year.



The overall profit share payment will be distributed to all eligible staff as an equal percentage of monthly basic salary, based on the monthly basic salary of the employee as at 31st March at the end of the relevant financial year.



Payments resulting from this scheme will normally be paid in the end-June payroll based upon the Company results for the preceding financial year ending 31st March, however, this payment or payout date is not guaranteed.

[a345xxx]

Hopefully we will know by this evening!

[Payscale]

Emirates Group achieves record profit in 2010-11

* United Arab Emirates: 1 hour, 34 minutes ago
* PRESS RELEASE

The Emirates Group has marked its 23rd consecutive year of profit with a record performance of Dhs5.9bn ($1.6bn) net profit, despite a challenging business climate. The 2010-11 Annual Report of the Emirates Group - comprising Emirates Airline, dnata and their subsidiary companies - was released in Dubai at a news conference hosted by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group.
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*
His Highness Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates Airline and Group.
His Highness Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates Airline and Group.

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* » more Emirates Group news

"This year's record results represent our drive to push the boundaries of aviation, questioning the norms and advocating for open and fair competition. Despite unforeseen challenges in the form of political instability and shocking natural disasters we have managed, through sheer determination, nimbleness and quick thinking, to produce our best ever result," said Sheikh Ahmed.

In the face of many challenges, both political and environmental, the Group's revenue increased by 26.4% reaching a remarkable new level at Dhs57.4bn ($15.6bn). Strong revenue has been the main driver for the Group's record financial performance. The Group's cash balance rose substantially to hit a record high at Dhs16bn ($4.4bn).

The Group's exceptional performance this year owes much to its dexterity and ability to adapt to changing market conditions quickly. In the first six months Emirates was able to capitalise on strong market demand thanks to its superior network and world-class product.

With political instability across parts of the world coming to the fore in the second half of the year, Emirates was able to swiftly adjust flight schedules, redeploying aircraft to balance the network and optimise revenue. The airline's notable ability to drive revenue, in the midst of an unstable business environment enabled it to partially shield itself against a dramatic increase in fuel prices in the second half of the year.

During the year dnata forged forward with its international expansion through its proven strategy of acquisition, taking ownership of Alpha Flight Group Ltd, a leading caterer with operations in 61 airports globally. By being open to new business opportunities and continually seeking growth dnata has now become the world's fourth largest air services provider.

"A clear indication of our strength, this year's financial result represents the tireless work of our 57,000 strong workforce. Operating without subsidy and through a well thought out business model we have, as a team, been able to confront adversity on many levels," added Sheikh Ahmed.

Customers' continued preference for Emirates' products has helped achieve sharp sales growth, record return for the financial year and the airline's highest ever passenger numbers.

"Emirates continues to dismiss the perceived limitations of the aviation industry, advocating for an open skies environment that stimulates competition, an undeniable positive for the customer. The customer is at the heart of our operations, evident in the 31.4 million passengers that flew with us throughout the financial year, an increase of 14.5% or 4 million passengers on last year."

On course with its financial commitments a net amount of Dhs1.8bn ($500m) was used to repay a bond that matured on 24th March 2011. The bond, listed on the Luxembourg Stock Exchange, was originally issued in 2004 with a seven year term.

Focusing on the theme of 'open' the 2010-11 Emirates Group Annual Report reflects on many of the Group's successes that have ensured its continued profitability.

"Being open to competition, new ideas and most importantly the future, ensures that we stay ahead of the game. Knowing that we continue to delight our customers and motivate our employees is a true measure of our success," continued Sheikh Ahmed.

"Looking ahead we have no plans to deviate from our proven strategy of investing in our business and focusing on core customer service. As we continue to grow, we are ambitious enough to believe that we can stimulate change in the aero political arena, for the benefit of the industry and the customers that it serves."

Emirates Airline's revenues grew by an outstanding 25% from last year to reach Dhs54.4bn ($14.8bn). Airline profits of Dhs5.4bn ($1.5bn) marked an increase of 51.9% over 2009-10's profits of Dhs3.5bn ($964m).

Passenger Seat Factor, at 80.0%, indicates the airline's highest ever, a remarkable achievement given a substantial increase in seat capacity (Available Seat Kilometres - ASKMs) of 13%. Overall capacity, measured in ATKM (Available Tonne Kilometres), rose 12.4% to 32,057 million tonne-kilometres.

Operating costs, at Dhs48.9bn ($13.3bn), were 22.7% higher than the 2009-10 financial year. This increase correlates with the rise in fuel prices and increased activity levels in addition to an overall growth in staff numbers and a rise in direct operating costs such as handling, in-flight costs and aircraft maintenance.

A sharp increase of 41.2% in the cost of fuel during 2010-11 at Dhs16.8bn ($4.6bn), accounted for a sizeable 34.4% of the airline's total operating costs, close to the record highs witnessed in 2008-09. This increase is a direct result of the 26.5% hike in average fuel costs per US gallon, as well as higher overall consumption due to increased capacity.

Passenger yield increased by 8.5% to 28.3 fils per RPKM (Revenue Passenger Kilometre), up from 26.1 fils (7 US cents) in 2009-10.

During the year, in line with the airlines strategic growth plan, Emirates significantly increased its order for new aircraft, adding 32 additional Airbus A380s and 30 Boeing 777-300ERs. The combined value of these orders is $13.4bn and brings the airline's total number of aircraft on order at the end of the financial year to 193, worth over $66bn.

Emirates took delivery of eight new aircraft during the year including one Boeing 777-300ER and seven of the airline's flagship A380s expanding the airline's fleet size to a robust 148 aircraft. Emirates remains the world's largest A380 and Boeing 777 operator with 15 A380s and 86 Boeing 777s.

Expanding its global footprint the airline launched passenger services to six new destinations - Amsterdam, Prague, Al Medinah al Munawarah, Madrid, Dakar and Basra - as well as increasing frequency and capacity to a number of high-demand cities across multiple markets, most notably the US, Asia, Middle East and Africa.

Emirates continues to benefit from a diverse revenue base, with no single region contributing more than 30% of revenues. East Asia and Australasia led the way in 2010-11 with revenue growth of 30.9% at Dhs3.7bn ($1.0bn), Europe followed closely with an increase of 24.3% at Dhs2.8bn ($769m) due primarily to three new passengers destinations commencing in the region and increased capacity through larger aircraft.

The Emirates A380 network was further developed during the year with three new destinations; Beijing, Hong Kong and Manchester as well as the highly anticipated re-introduction of the A380 service to New York.

Emirates continued to invest in its product with two new airport lounges, Shanghai and New Delhi, taking the total number of Emirates dedicated lounges to 28. In total Emirates has invested Dhs288m ($78m) in its global lounge network.

Employees were also a focus of the 2010-11 financial year with Emirates Airline increasing employee numbers by 5.9% to reach nearly 39,000 employees, an incredible feat for an airline that only last year celebrated its silver jubilee. Many of these new employees fall within the Cabin Crew and Flight Deck departments on account of the eight new aircraft delivered throughout the year; as well as in preparation for continued aircraft deliveries in 2011-12.

Emirates SkyCargo saw a strong increase in revenue up 27.6% to a record Dhs8.8bn ($2.4bn) thanks to a worldwide rebound in cargo traffic. Cargo tonnage increased by 11.8% over the previous year to 1,767 thousand tonnes. Additionally freight yield per FTKM (Freight Tonne Kilometre) increased by 11.3%.

Cargo revenue contributed 17.4% to the airline's total transport revenue, yet again one of the highest contributions of any airline in the world with a similar fleet. During the year, Emirates SkyCargo introduced four freighter-only destinations, Almaty, Bagram, Campinas and Erbil. At the end of the financial year, the freighter fleet was seven - three on wet lease and four on operating lease.

Emirates Airline's Destination and Leisure Management (D&LM) division saw package sales of Dhs1.1bn ($299.7m) throughout the financial year, an increase of 10% on last year's figures.

Marking another milestone, the Group's Wolgan Valley Resort and Spa, Australia's first conservation-based luxury resort, received an Overall Commitment to Excellence Award at the Leading Hotels of the World Awards, in addition to winning the Environment category.

For dnata the 2010-11 financial year has seen major international expansion to become the world's fourth largest air services provider.

dnata's revenue, driven by international expansion, crossed the Dhs4bn mark for the first time in its operating history reaching Dhs4.4bn ($1.2bn) up 39.4% from last year. The substantial increase in revenue is primarily a result of increased revenues from airport operations and cargo handling business lines in addition to the acquisition of Alpha Flight Group Ltd in December 2010.

During 2010-11 the third largest revenue stream for dnata was catering, jumping 438.3% to Dhs576m ($156.9m) thanks to the acquisition of Alpha. Although only accounted for since 31st December 2010, Alpha has sent 8.4 million meals into the skies from 61 airports in 11 countries. When Alpha is reported in entirety for the 2011-12 financial year dnata's revenues are set to double over 2009-10 levels to around Dhs6bn ($1.6bn).

Despite the full year impact of the acquisition of Plane Handling and Alpha, dnata made its second largest profit in its operating history of Dhs560m ($152.6m). dnata operating costs for the 2010-11 financial year were Dhs3.9bn ($1.1bn).

The number of aircraft handled by dnata during the year increased by 21.1% to 232,585, with the majority of this growth stemming from international business. Total cargo handled improved by 33.3% to 1,494 thousand tonnes.

For dnata, strategically expanding its global footprint and increasing brand awareness was a chief objective during the year. The acquisition of Alpha is the largest to date, expanding dnata's current total footprint to 94 cities in 37 countries across five continents.

Leading the way in innovation and highlighting the brand's commitment to customer satisfaction, dnata travel services introduced a new iPad application during the year. The new application, created specifically for dnata provides clients with a quick and convenient way to make travel arrangements no matter where they are in the world.

Increasing productivity and streamlining efficiency, dnata installed a new, advanced GPS equipment tracking and monitoring system to significantly improve equipment allocation time for its ground handling operations at Dubai International Airport.

Breaking new ground dnata became the first airport service provider in Switzerland to obtain IATA's Safety Audit for Ground Operations (ISAGO) accreditation, designed to improve ground handling quality and safety. dnata's operations in Pakistan also achieved the same certification during the year.

dnata's average employee strength grew considerably by 35.1% to almost 18,000 staff on account of the newly acquired Alpha. In total 46.9% of dnata's workforce is now based internationally, outside Dubai.

As of 31st March 2011, the Group and its subsidiaries employed 57,000 staff, representing 163 different nationalities.
Also consider reading:

[airbus757]

12 Weeks!!!!!!!!!

[skytrax]

cant belive that we are still assuming how many weeks! what time does it come out?

[a345xxx]

Happy not happy? Somewhere in between... just thank my blessings I guess! :rolleyes:

[SOPS]

12 weeks...is that confirmed?

[skytrax]

I thought we ll be getting 8.
12 is more than I was expecting. How about the salary increase? anything new?

[Trader]

12 weeks! 12 weeks............

[Oblaaspop]

Yes! Been ripped off somewhere along the line I reckon!!

[airbus757]

I have an sms from someone at the meeting. It is confirmed from 2 sources.

[Kamelchaser]

Was going to be 22weeks apparently, but obviously "issues" got in the way and forced them to reduce it.

Probably the calculators didn't have enough zeros for the managers' share.

[Laker]

better than many expected but I'm not sure it reflects record profits.

[rascott3888]

12 confirmed - which just about makes sense of the increase from aed175m to aed770m in the accounts allowing for increase in staff numbers from 2010 to 2011.

The better half is content. Not ecstatic.

[quinnybuzz]

What about pay rises???? Any news on that?

[SANDBLASTER]

any news from the meeting about when it's going to be paid?

[Check 'Six']

May salary

[SANDBLASTER]

That's good news, thought it might drift into June

[atiuta]

12 weeks? Not that big a surprise.

Bond paid back, tougher oil prices and there you have decreased profit for the second 1/2 compared to the first. No conspiracy theory.

I accept 12 weeks with a quiet nod of the head.

[MosEisley]

Wiz,

Got any money invested in shares?When have they ever sold shares to invest in? They haven't.

Do you take part in the day to day running of those companies?If sitting in the pointy end and operating the aircraft in the safest and most efficient manner can be considered as day to day operations, then yes.

If they make a profit, do you expect a dividend? Absolutely

12 weeks? I'll take it because we earned it, but I'm not going to prostrate myself in humble gratitude.

[TCAS I have control]

12 weeks not bad, however two points from reading through the annual report.

Salaries and short term payments to senior management for the financial year increased by 60 million dirhams and average productivity of staff increased by over 19%. That would mean that the productivity of flight crew would be higher than that figure I would suspect.

Off for another read to see what other gems are in the report.

Keep discovering :ok:

[GoreTex]

thank god I was wrong with my 5 weeks guess

[SOPS]

well I said 2 weeks.......:hmm:

[Laker]

when does the salary review come out?

[GormanInkarnati]

At this stage I am more interested in the salary increase, the only thing that really matters, long term...

[Wizofoz]

Way to miss the point, Mos.

My comment was because you seemed PO'd that they paid the Dubai Government (aka the owners of the company) a dividend.

Mid range for my expectaions. I thought it should be a leat 10, was kinda hoping for 18, but it'll do.

[Oblaaspop]

Fack, this point raises its head every year mate, and every year it has to be explained.

So here goes (again!):

Take your Monthly Basic salary and multiply that by 12 to get your yearly salary (with me so far?), then divide that by 52 (number of weeks in a year:hmm:) to get your WEEKLY salary, then multiply that by the profit share (12).

Hey presto the result is the amount of bonus!:ok:

[Payscale]

well done... well deserved

[emiratesf hucker]

All you happy clappers can keep on happy clapping. 12 weeks salary is still less than what has been stolen over the past year.

[5star]

Don't waste your energy on clapping....12 is not bad but I comes with a slight bitter taste. What is worse : X-out next year's profit target: 5.8 Billion D.
There is absolutaly no way we will beat this the same way we beat this years target. Next year: zero.

Now even more, I wanna know what our salary increase will be. And also if they have finally adjusted the education allowance in line with the bubbling School inflation here in Dubai.

[BYMONEK]

Hucker

REALLY? Emirates stole the equivalent of 23% of your salary in the last 12 months. **** a brick man, tell us how! :eek:

[Happyaslarry]

I think thats slightly more than we are due?
I heard the calculation is: basic x 12, then divided by 365 to get basic per day. Then multipy by 5 x 12 (5 days in a week x 12 weeks). I believe over here 5 days is counted as a week. Hey I hope your calculation is the correct one though!

[Wizofoz]

Harry,

Every-Single-Year somone pulls that one out, and has to be corrected.

No. Basic times 12 divded by 52 is 1 weeks pay.

Does anyone have a hint as to when the Pay review is likely yo be announced?

[Happyaslarry]

Thanks! Thats a big difference for a newbie!

[emratty]

Firstly I think 12 weeks is a pretty good result for us considering the middle east uprisings and the price of fuel:D
The pay review will follow within the next 10 days probably to effective 1st of June.
There are so many sad muppets on this forum who are never happy, already we have posts saying that next years profit share will be zero blah blah blah its quite frankly pathetic and makes us as a whole look like a bunch of complete morons.
I'm off to the pub the Westin will be a happy place tonight:ok:

[donpizmeov]

I am guessing pay review will be out Thursday Arvo.
The Don

[Wizofoz]

Hmmm...

Previous years the bonus has been based on the NEW pay-rate after review. Hope that's the case here (unless the increase is zero, in which case who cares!!)

[White Knight]

Pay review is always effective from 1st May............. It'll be out soon no doubt..........

12 weeks - that's nice:ok:

PS - Jolly well said Emratty:D:D

[Dropp the Pilot]

Dear Wiz - must be the laudanum speaking on your journey through the poppy fields - the profit share paid has never ever been based on the new pay.

[vbrules]

I am actually starting to enjoy the self professed wizard of Oz's inputs.
They are so ridiculous and self serving it's amusing.
What a sad, sad, sad individual.

[pool]

12 weeks, well .....

I always thought this was a profit share, as advertised earlier by the company and the arithmetics provided.

Now I have to read on the portal that it is suddenly a bonus!!

So it all starts to make sense. As they do not apply the promised arithmetics for a share of the profit (it should have provided closer to 20 weeks), they change from the latter to a bonus, which can be simply determined by them to their liking. No profit share no more, only bonuses.
EK does no longer share, but rewards with arbitrary bonuses.
Not bad, but .... not what was promised. Anyone surprised?

Remember when Dubai was thriving and generating profits like crazy, just as much as inflation? Yeaaaahhhhh ..... The goverrnment then gave all their employees a 70% raise, for locals, for expats only 20, the local pilots got their 5 to 7000 AED contribution to the rising costs, the expat pilots zilch (This in itself qualifies easily for blatant racism).

When asked why we didn't get a raise, the company simply replied that we were a private entity, nothing to do with the government, only owned by them. Not one word about special treatment for locals who by the way do not even pay for water and electricity, no cap .... basic needs, which again qualifies for racial advantage ....

Now that they screwed up badly, we suddenly very much are a government company and therefore entitled to help them out of their self imposed cr@p. What an honor!!

Don't get me wrong.
The 12 weeks are highly appreciated.
Not so the circumstances.

[cerbus]

Are the wimpy EK pilots really happy with losing 40% of their bonus? The company just stole 8 weeks of our bonus and pilots are actually happy about it. Talk about Stockholm Syndrome. Get real people.
How about this. For your May paycheck the company is only going to pay about 60% of your basic salary. Would that be okay? Would you be happy with that. After all they are paying you something just not what you are owed.
We all know that a lot (too many) pilots would be happy with that concept but the pilots with common sense would not.
Wake up. We want what we are deserved and owed, nothing more nothing less. Is that too much to ask?

[White Knight]

You're correct Pool - indeed a profit share and not a bonus* but they pretty well add up to the same thing!!! You know, 25% of the profit over the target and all that! The other 75% of course gets sent to the owners, which would seem to be the Dubai government. And unless you work in payroll you'll actually have no idea (nor have I) what the exact number of weeks should be!

As for the 'wimpy EK pilots' Cerbus... Have we seen you knocking on the managers doors lately and stating your case? I doubt it:rolleyes::rolleyes: If you have then good on you and I welcome more of your sarcastic bollocks PMs:E:E:E:E:E:E



* Most people refer to it as the BONUS.... As in "what's the bonus likely to be?", "will it be a good bonus?". Call it a turn of phrase and all that:{

Maybe Sittingidly can buy some more silver and gold - might shut him up for a bit:ok:

[MosEisley]

Wiz, as I originally stated and pool clarified, when the "government owned" employees all got a raise we did not because, according to them, we are not government owned. When the rest of the world was crying foul over government subsidies they once again declared that we are not government owned or subsidized. However, when it suits them, as it does now, and to your satisfaction, we pay dividends to the "owners" i.e. the dubai government. So which is it?

And Varmint, feel free to not read what's written here if you don't work here. If you do, what piece of crap outfit do you come from where getting bent over and having to take it is the norm?

[Wizofoz]

Mos,

There is a difference between working for a corporation that is owned by the Government, and working directly for the Government, but I do see where you were coming from.

Dropp,

Oh! Yes! Just checked last years and you are correct. Don't know why I was under that impression.

[pool]

(deleted by the author, unecessary rant)

[Kamelchaser]

Wiz,

Would you care to name the year (any year) that the profit share has been paid out on the new pay rate?

I've been here quite a while, and it's NEVER been that way.

I know it's only a rumour network but for heaven's sake, get at least simple facts like that straight.

[Wizofoz]

Kamel,

If you look two posts up, you'll see I corrected myself on that. No, it's paid on current rate.

[emiratesf hucker]

Pool, Cerbus, spot on.

White Knight, Wizofoz, Bymonek. And others just like you.

There was a few pilots with DNATA and Emirates,
So happy to be with these conglomerates,
They failed to realise,
The pineapple size,
Means that up their arse,their head now fits.

[fliion]

Well Emiratesf hucker,

Yes its an anonymous site, but anyone that has the crass handle that you have has zero business in this profession...disgraceful.

To the profit share....many a moaner moaned and lambasted the co. before knowing the number of weeks...12 weeks is a lot better than people thought...so Im not complaining.

Now to the guys that do complain and moan year on year, day in and day out....just go ...for the love of God grab some pride and make the jump to these companies out there that pay six month bonuses, and the hefty pay raise every year....and when you are there by all means come back and gloat...PLEASE...come back and gloat so that we can all follow you to the promised land of.....???????????...where?

f.

[cerbus]

Fillion we see you are ready to be a middle eastern manager with the attitude you have. If you don't like it leave. What a great style of management. Are you an oppressor or come from an oppressed country? Try doing that crap in Europe and see how far it gets you.
What the EK pilots have to realize is yes 12 weeks is good, if that is what we were owed. However we were owed much more as the target and profit show. Just because you "thought" we would get less is a testement to your Stockholm Syndrome. There is a formula that the company is suppose to follow with regards to the profit share. It is straight foward.
As I wrote earlier no one would be happy with only getting 60% of their May paycheck. After all our salaries are considerably higher than many 3rd world pilots paychecks but just because we make more than them I would still not want to get paid 60% of what I am owed.
Honour the contract which is a very hard thing to do in this part of the world.

[Wizofoz]

cerbus,

Sorry, can you show how it is we should have got more?

You're saying 25% of profit in excess of target has NOT been distributed?

Not saying you're wrong, but can you show the maths?

[Nearly Man]

You lot want to complain. Look at what EY dished out to it's pilots. About the same amount as a cab to the Barasi bar :(

[fliion]

Cerbus,

Name three better options in the market right now.

Employees and employers have different agendas, its called business. Deal with it OR move on.

No doubt you run your household differently and pay for services at a price that the vendor demands at the outset... heavens forbid you would try to manage your business(household) in a way that benefits you and not the guy/gal you are employing.

please

f.

[MrMachfivepointfive]

Lessee...
Target was AED bn 4.25
Profit was AED bn 5.9

Difference is AED bn 1.65

25% of that are AED 412 500 000.--

Divided by 57000 staff makes it AED 7236.84 per head.

Discounting the two weeks for reaching the target that would mean that the average EK employee makes AED 723.69 a week. About AED 3000.-- a month basic? Can that be? Where did my math go wrong?

[Jihad Jim]

Try doing that crap in Europe and see how far it gets you.
Cerbus et al

If the non moaners have Stockholm syndrome then what do you suffer from, know all nostalgia syndrome. There are many more market refugees here from Europe than there are repatriated ex Ek drivers in Europe. You need to deal with the facts and not some fantasy about the old country.
Care to give us some examples of companies in Europe that dont screw their pilots.

Asking why you dont leave is nothing to do with being a manager its just illogical to stay if you are so unhappy about your employer and the grass is greener elsewhere.
Living abroad and working as an expat in work or legal enviroments other than your own can be challenging on many levels. You represent the people on here that either cant deal with the challenge or dont have the balls to improve you life by acting on your unhappiness. That is a generic statement and not specific to EK.
So just come here slag off everything except your own perception, or have a word with your self and **** off. My money is on the former.

[palmdeira]

Well what is the pro rats rate!? If I've been here 6months can I only look forward to 6 weeks?

[Instant Hooligan]

Palm,
Because you've only been here 6 months and the second half of the year was less profitable than the first half, you can expect "ONLY" 4 weeks....!!!!

And yes it is sarcasm..........:):):)