And it’s about the fourth wage freeze the company’s demanded in the last couple of decades, each of which has been followed by handsome profits and tasty bonuses for senior management. On top of a couple of years’ unpaid standdown, rapidly increasing cost of living, and the company’s continuing belligerent, ultimatum-style approach to new aircraft - yep, shove it.

Love how he says in recognition of the sacrifices that have been made,bet they account for a lot more than $5k per employee. Of course the exec & management 1 off bonus will never be revealed,the deceit rolls on.

Is this online with the shares offering or additional?

I believe its additional BUT an eba has to be signed to become eligible which if im correct contains an 18 month(could be 24,not sure) wage freeze.
Not hard to figure out who is making the sacrifices & who is the big beneficiary.

Dont think there was ever much doubt about the mates club,this shows even more why little ol AL never gets questioned.

never thought I'd see Michael West on pprune.

Agree 1000%

Good luck, I hope you are successful.

While I agree the 2 year pay freeze is ridiculous, the 2 year pay freeze is a relatively smaller loss over longer periods of time, i.e. 20-30 year career, than the lost income as a result of 2% annual increases (previously 3%). For individuals with a shorter timeframes however, the wage freeze will will be much more costly.

The two year pay freeze is actually a massive loss over a career. That’s over 6% for those two years based on previous increases, the forgone value of which is compounded every pay increase going forward, forever.

The ongoing two percent is just insulting salt in the wound, repeatedly, every year going forward.

Compounding interest says this is wrong. The longer remaining in your career, the more a wage "freeze" (really a pay cut) impacts you

I was trying to say that while the freeze is costly, the cost of 1% lower salary increases dwarfs that two years of zero, particularly over the longer term.

I see what you’re saying, but don’t forget the two years of zero increase is there, baked in, forever. It’s compounded every year that you ‘might’ get a pay increase forever, increasing the amount you’re not getting anymore.

Do the maths on that two year pay freeze compounded at the company’s desired 2% annually for a decade, or more! Eye watering.
Then add the ongoing losses of the 1% annually that the company doesn’t think you’re worth.

And don’t get me wrong, 2% is a joke as well. Especially at current rates of inflation.

The inflation rate has only been above 3% 3 times in the last 20yrs.


https://cimg8.ibsrv.net/gimg/pprune....d67f80969.jpeg

https://www.macrotrends.net/countrie...ation-rate-cpi

Too late now.

putting aside the flawed logic of comparing wages to inflation rate as opposed to cost of living, the above resulted in an average inflation rate of about 2.7%
- which group of pilots in Australia has achieved that year on year? (And due to compounding factor, for every year it wasn’t achieved ie “group wage freezes” etc, the following year would have required a slightly higher wage rise to offset that loss)

Why do we have to accept a 2 yr pay freeze! No other industry that I can find is imposing such draconian measures on their employees. 2% and 2yrs is just a number AJ thought of whilst sitting on the can one morning. There is still one group left to sign off, actually even to start negotiations.

You don’t have to accept it. Fact is though most know that they will be taking it one way or another as Alan has played a blinder by splitting the workers up into so many competing entities that they can play off against each other.

Except that is looking backwards and it sure ain’t going to be 3% end of next FY.