EK Profit Share
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Join Date: Dec 2003
Location: Dubai
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EK Profit Share
Hi 
How come EK employees are silent re the recent annoucement made by HH about 10 weeks bonus for its employees. Guess good things are never appreciated!!
How come EK employees are silent re the recent annoucement made by HH about 10 weeks bonus for its employees. Guess good things are never appreciated!!
Join Date: Mar 2000
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Masha old spud, the 'why aren't you guys celebrating the wonderful bonus provided by your most benevolent employer' train of thought was given a run on rumours and news a while back. When the big fella rakes in 1.25 bill on the back of countless night turnarounds, min rest missions and several ongoing flight time and duty limitation waivers by the ever vigilant GCAA then you have the feeling you may have earned it.
As well the loss in salary due to the week US Dollar and rocketing inflation requires a bonus to sustain the salary at joining levels.
I'm happy I got a bonus but I needed it! I would say you'll hear a little more on the subject next year if all things remain the same and we fail to reach 2.5 Bill.
As well the loss in salary due to the week US Dollar and rocketing inflation requires a bonus to sustain the salary at joining levels.
I'm happy I got a bonus but I needed it! I would say you'll hear a little more on the subject next year if all things remain the same and we fail to reach 2.5 Bill.
Join Date: Oct 2000
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Well, the day ALL the drivers are happy will probably be the same day it snows in Dubai.
I, for one, am quite enjoying the weak dollar - not sending money to the UK means I get more in my pay packet every month to spend here!
I, for one, am quite enjoying the weak dollar - not sending money to the UK means I get more in my pay packet every month to spend here!
Join Date: Mar 2003
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Could it be that the pilot body is too busy counting their fingers trying to work out how a 67% rise in profits is reflected in a 25% rise in profit share from last year.
Guess you need to be a bean counter to balance that equation
Guess you need to be a bean counter to balance that equation
Join Date: Feb 2003
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ruserious,
Hate to tell you mate but your ignorance is coming through! The profit target is set at the beginning of each year. If that target is met, it results in an automatic 2 week bonus. In addition, 25% of the amount over the target is added to the bonus each year. It is a catch 22 situation though: As we continue to earn record profits, the target is set higher and higher. The 67%rise in profit is not the key. The key is how much the target is exceeded, and every year we seem to be able to exceed that target.
There may be many complaints from the pilots here, but from my perspective the good outweighs the bad. For the first time in my career (21 plus years with airlines) I know that the pay check will not bounce, that it will be on time, and that we will not close tommorrow due to inept and corrupt management. Most of our problems are because of rapid growth, mixed with a not so rapid change in management thinking. But the change in thinking is coming ever so slowly. I have been at an "incredibly shrinking airline" in the past and I can tell you that these growth problems are much better poblems to have.
Hate to tell you mate but your ignorance is coming through! The profit target is set at the beginning of each year. If that target is met, it results in an automatic 2 week bonus. In addition, 25% of the amount over the target is added to the bonus each year. It is a catch 22 situation though: As we continue to earn record profits, the target is set higher and higher. The 67%rise in profit is not the key. The key is how much the target is exceeded, and every year we seem to be able to exceed that target.
There may be many complaints from the pilots here, but from my perspective the good outweighs the bad. For the first time in my career (21 plus years with airlines) I know that the pay check will not bounce, that it will be on time, and that we will not close tommorrow due to inept and corrupt management. Most of our problems are because of rapid growth, mixed with a not so rapid change in management thinking. But the change in thinking is coming ever so slowly. I have been at an "incredibly shrinking airline" in the past and I can tell you that these growth problems are much better poblems to have.
Join Date: Sep 2001
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And spare a thought for us poor buggers with no exchange rate protection in our salary. I've taken a 30% pay cut in the last 18 months due to the growing Oz/weakening Us Dollar.
Join Date: Sep 2003
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We all hoped that we would get more - we didn't. Are we happy - no. Morale - rock bottom ( not the bar!!!). Do we feel appreciated by Ek - of course not. Will I help crewing out on days off - of course not. Do the compnay care - of course not. Can the company reverse the situation - yes if they want to. What do they need to do - pay rise ( not just one increment + 2%, I mean a decent one!!!)and address some of the other long term issues. Will they do it - no. Why - they don't value the work force. What will happen - we will all go to work but like the company even less.
A vicious circle - I'm sure if somebody in management gave a S**T it could be resolved - don't hold your breath!!!
A vicious circle - I'm sure if somebody in management gave a S**T it could be resolved - don't hold your breath!!!
Join Date: Mar 2003
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330 man, thank you for enlightening me on my ignorance. I am totally aware of the equation in use, however it still does not stack up. Your previous aviation experience has absolutely nothing to do with whether we actually got a fair share.
However, I am truly happy that you are happy and pleasantly delusional
Just what we need more sheep
However, I am truly happy that you are happy and pleasantly delusional
Just what we need more sheep
