I doubt wages will return to pre COVID levels for a few years and A380's future is highly uncertain. If I was 60+ I'd try for the best VR/early retirement package I could get. Take a few feet off the length of the boat you're planning on buying and console yourself that you can start doing the things you want a few years earlier and your health will be better with a few years less long haul flying damage.

Singapore Airlines will be offering early retirement to pilots over the age of 50 with 15+ years of service. Leaving in your 50s is a different matter as unless you have done really well financially i.e. joined young, got an early command, stayed married to the same woman and made some good investments it would be a stretch. Most pilots would need the remaining 10 years to finish off the mortgage and fill up the retirement pot before pulling the plug.

Below 50 I would be clinging on as hard as I could unless I had an alternate career or business that I could easily step into.

Unfortunately, most of us in the latter part of our careers are going to have to lower our expectations of retirement with less travel and fewer toys. Those in their 30s and 40s who can remain employed should be okay as time is on their side.

https://cimg0.ibsrv.net/gimg/pprune....86d1e59555.png
The Vr package for a Captain on the 747 is nowhere near $400,000 after tax. For a 35 year Captain the tax free component is $203,349. Min guarantee is 1040 hours at approx $330 an hour $343,200 minus the $203,349 leaves $139,851 at your marginal tax rate.

If the VR was you’re only income for the year tax on $139K is $39K. So closer to $300K after tax.

To go back to B&Blue’s comments, I can’t see myself clearing that amount of money in the next two years. I’ll consider it a win if I clear that amount in the next three! That takes them to 64. Betting big on that last 12 months!

You go Keg!
It is incumbent on those to forever try to get rid of those more senior.
Trip them over in the terminal or whatever!
I’m with you by the way!

Actually I’m very interested in this ‘variabilisation’ thing.
When you don’t actually know what you’re talking about then just make something up.
Common thought is that it refers to a reduction in MGH. How will that save money?
I’m guessing that those stood up are flying to, or at least planning on flying, MGH. So why the need to reduce it?
What if after January when the feds lift international travel bans that QF are forced to stand everyone up?
A lot less costly if everyone is on reduced MGH?
Is that ‘variabilisation’?
I guess at least people will be stood up?

I don’t have a dog in this fight, but I heard something rather profound yesterday.

Get a 1 metre ruler and assume each centimetre is equal to a year. Assuming you get to close to 100 years before curtains, how many centimetres have you got left? My bet is nowhere near enough.

If you can, take the package and run, go fly something light and fun and real, remember why you got into flying in the first place, remember the smell of 100LL and hot oil. Talk copious amounts of **** in and around hangars. Try and pass on some war stories and knowledge to the beginners, even take them flying. Its an awesome way to waste a weekend, I assure you.

Or go and be a grotty yachtty, bob up and down the east coast living on the smell of an oily rag. Or go and be a grey nomad (but please dont). Or take up woodworking, or cottage gardening. Or write your memoirs, something for your children and grandchildren to read after you’re gone. Or get big dark/reflective glasses and become a professional ornithologist.

I am hopefully, just over a third of my way through and I already feel shortchanged on length (of life that is, well on everything if I’m being honest). I wish you all the best in your decision making, may you make the best decision for a happy life.

j3

No doubt in 11.5 years just after I’ve turned 61 people will be encouraging me to take the deal on offer then too!

A lower MGH allows a couple of things in the medium term. In terms of rostering it doesn’t mean much when the divisor sits below ~90 per BP (equivalent to month on, month off). Once the flying increases above about 90/ month on, month off, that’s where a lower divisor of 100, 120, 140 (per 8 week BP) enables things to ramp back up without putting significant additional costs on the business (for which there is no income to cover the additional $$$ to pay everyone 160 when they’re only flying 100, 120, 140, etc).

Of course QF may argue that a lower MGH lowers the cost of AL and LSL accrued with that lower MGH. I’d need to see some serious quid pro quo to consider devaluing any AL or LSL accrued whilst stood down post a variation vote. I’m somewhat ambivalent about what that could look like. Perhaps even equity and various bonuses tied to the CEOs for the next decade or so.

This.

There are plenty of people doing it tough out there at the moment, granted, but this is just a step too far. If you take VR or, heaven forbid, are made CR, then your accrued leave is paid out the full rate. I won’t be able to support a reduction to MGH if it devalues accrued leave.

Why reduce mgh when we can just be stood up as needed to hit the hours? Or is there an end of stand downs foreseen with a bill to be avoided, for better or worse

It depends on what you mean by ‘accrued leave’. The company is on record that any leave currently in your leave bank retains full value. However it appears from reading between the lines on webinars that with a lower MGH, leave accrued in the future with a lower MGH will have a lower value.

Again, it’d have to be a massive quid pro quo to seriously consider this.

I must have misheard that, I thought Tino said they would look at it. I’ll take your word for it.

Still, in my humble opinion, being stood down without pay is being pretty darn flexible and allows QF to variablise my cost base enough. On the other hand they could variablise me right out the door so I get that perspective is required.

Exactly!
You can’t vary your wages bill anymore than stand employees down with no pay.

If any one can get blood from a stone it’s Qantas, they will threaten and bully until they get what they want.

The quid pro quo will be "We're offering you additional chances to do some flying and earn at least half of your normal income." Whilst the number of pilots who benefit from that outnumber the pilots who will be relying to any degree on previously and future accrued leave for any Qantas income in the next few years, the vote will get up.

With average life expectancy you need to cut off that ruler by the time it gets to your early 80’s. Then it’s striking how little time most people have left after they reach 65.

An MGH below 80 doesn’t allow additional chances for flying. It’s only once MGH is between 80 and 160 that it allows additional crew to fly.

The real question is whether the pilot group is prepared to vote for a lower MGH AND to allow training onto a type so that more pilots can get flying.

Again, a lower MGH that devalues future leave accrual would need to be part of a package that includes such considerations.

I’m happy to accrue leave at a reduced rate as long as there is a provision on the agreement that when Qantas returns $1 in profit and all current pilots on fleet type are stood up, I then start to accrue my leave at 1.5 times the usual rate until the leave balance returns to what it would have been had I been accruing it normally. Any changes to EBA need to have firm conditions attached. After all we have been stood down now, previously locked out, taken pay freezes, negotiated away conditions on promises that never materialised fully whilst watching executive waste money on fantasy adventure like Jetstar Hong Kong and Red Q, invest in other airlines and take home huge bonuses.

Great post hope the majority agree with u, I certainly do

You could look at it like this, my last pay from the Qantas group was 28th March, so if I go back flying in September which is looking hopeful that will be 6 months of $0 pay. So I have already taken a 50% pay cut this year, seems like that is more than enough to me. My mate down the road who works for Air NZ hasn't flown since 1st April and has been paid 86% of his wage every month on time with no expectation of work. I find it incredible that Qantas now wants to screw thinks down even tighter.

absolutely

on a fortnightly basis your/my pay is more like a 90% cut though

more than enough