Emirates 2007 Profit Share .
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I feel sorry for you pilots at Emirates. A Billion dollars in profits and only 4 weeks bonus. That is crap. My US airline is talking about a yearly profit for the first time in years and the ball park bonus for a captain is hopefully going to be about $20,000. We have many more employees than Emirates does and our management is on the road to employee satisfaction so that explains the differnce. But it is a pretty poor showing by Emirates management.
Join Date: Nov 2001
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Yawn....for you 1st time bonus gathers, we go through this one every year.
Basic monthly salary x 12
Divide it by 52
Multiply it by 4.5
= Your Bonus
Been listening to too many cabin crew stories my friend.
Basic monthly salary x 12
Divide it by 52
Multiply it by 4.5
= Your Bonus
Been listening to too many cabin crew stories my friend.
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I understand Singapore Airlines are getting 6 months bonus plus the 13th paycheck and for this year as well, an extra month on top because the are 60 years old !!
Happy Birthday !!
Happy Birthday !!
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Rule Britannia
There you obviously have one of the reasons the sun actually sets on the UK nowadays. If it takes 12 years to NOT figure out such a simple math problem... I know I shouldn't be surprised, but why is this a question that comes up every year? There's always been 52 weeks in a year, so x number of weeks, is just exactly that. 1/52 of your yearly salary, times the number of bonus weeks.
My arithmatic on the overtime issue might be warped, but it's nevertheless true. I did 125 hours fully legal on reserve without factoring, and I know it's possible to do 150 with factoring. I was a zombie at the end, and it took me two months to recover. I will surely go SK halfway to my 150, but I think the company is expecting some guys to actually do it.
Money talks, and b.......t walks. Unfortunately, in some cases it's sleepwalking.
My arithmatic on the overtime issue might be warped, but it's nevertheless true. I did 125 hours fully legal on reserve without factoring, and I know it's possible to do 150 with factoring. I was a zombie at the end, and it took me two months to recover. I will surely go SK halfway to my 150, but I think the company is expecting some guys to actually do it.
Money talks, and b.......t walks. Unfortunately, in some cases it's sleepwalking.
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I kinda wonder about something. Each year I hear about SQ forking out some serious bucks. Why doesn't everybody leave and go to SQ? There must be some reason for it. We've got some guys who left SQ for EK, and none of the seem to want to go back. Why?
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No one is joining SQ bcos SQ is not hiring. Simple isn't it.
If they were I (for one) would be gone. SQ's 345 operation is the sweetest job in aviation right now.
But they have enough pilots on local terms now - no need for expats any more.
If they were I (for one) would be gone. SQ's 345 operation is the sweetest job in aviation right now.
But they have enough pilots on local terms now - no need for expats any more.
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If they were I (for one) would be gone. SQ's 345 operation is the sweetest job in aviation right now
suitcase and drive you to the airport 
Join Date: Jul 2003
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4 1/2 Tons....
Arrived bach in DXB the other night off a local flight (yet again this month) with no extra fuel planned by the company. About number 15 in the queue. So ffter 2 holding patterns and some vectoring and committing to destination, landed with going on 100 hours projected for the month and less than diversion fuel.... (Not a problem but doesn't help the stress or fatigue).
I reckon I'll start putting an extra 4 1/2 tons on just to ease the pain now.....
I reckon I'll start putting an extra 4 1/2 tons on just to ease the pain now.....
Join Date: Aug 2000
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Warlock 2000, I don't take instruction from people of your ilk, whose attitude is belligerent and predictable. "Save it!" you demand from anyone who'll call you on your rant of self pity. The truth hurts eh?
"pool in dry" I guess you need the bigger profit share to pay for spelling lessons, and you type slowly and without accuracy, a real talent to have for flying a FMS cockpit aircraft. Nonetheless, ouch that hurt ...I guess you mean to say I'm a bad pilot...I'm not going to sleep tonight because I know I'll never fly for EK, wow what a loss... 
I'll never meet disgruntled ingrates like you... I guess I'll just have to live with that. Enjoy the sand.
ONE day when the pool in dry you might get an interview.
...I guess you mean to say I'm a bad pilot...I'm not going to sleep tonight because I know I'll never fly for EK, wow what a loss... I'll never meet disgruntled ingrates like you... I guess I'll just have to live with that. Enjoy the sand.
Join Date: Oct 2006
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Creative accounting!!!
Ive been doing a little maths revision myself. And it doesnt add up!!
Profit 2006/7 3.5 billion AED that is 3500,000000 0r 3500 million AED.
Target 3.25 billion AED OR 3250,000000 OR 3250 million AED.
That leaves 250,000000AED OR 250 million AED for profit share!!
It was announced that the target was reached in DEC. That leaves 3 months to generate 250 million AED profit!!
Lets look at EK performance. EK profit announced 3.25 billion AED Profit target over 9 months equates to the company making on avererage 360 million AED profit every month. OR 1080 million AED for 3 months. BUT it must have been very very quiet from DEC to MARCH because the business really slumped to a measly 83 million AED profit per month!!
I dont know about any of you but all my flights were FULL FULL FULL!!
So what happened to the other 830 million AED profit that was probably generated for the 3 months leading to March.
OK OWNERS DIVIDENDS equates to 106 million USD app 390 million AED still leaving 440million AED. Where has this money gone
Divided amongst three or four people me thinks!!
Any way!!
What can you do
Just thought this needed to be posted!!
Profit 2006/7 3.5 billion AED that is 3500,000000 0r 3500 million AED.
Target 3.25 billion AED OR 3250,000000 OR 3250 million AED.
That leaves 250,000000AED OR 250 million AED for profit share!!
It was announced that the target was reached in DEC. That leaves 3 months to generate 250 million AED profit!!
Lets look at EK performance. EK profit announced 3.25 billion AED Profit target over 9 months equates to the company making on avererage 360 million AED profit every month. OR 1080 million AED for 3 months. BUT it must have been very very quiet from DEC to MARCH because the business really slumped to a measly 83 million AED profit per month!!
I dont know about any of you but all my flights were FULL FULL FULL!!
So what happened to the other 830 million AED profit that was probably generated for the 3 months leading to March.
OK OWNERS DIVIDENDS equates to 106 million USD app 390 million AED still leaving 440million AED. Where has this money gone
Divided amongst three or four people me thinks!!Any way!!
What can you do
Just thought this needed to be posted!!
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There are three points I would like to make.
1. I cannot find the reference but recall profit share is paid as 2 weeks upon reaching the profit target and 25% of the excess (profit-profit target) distributed amongst employees.
2. Considering point 1 it isnt a profit share it is a bonus at the whim of the owners.
3. This is not the appropriate forum to be discussing it; it should be the Emirates private forum. No wonder everyone else thinks we are a bunch of whining debuttantes.
Dry your eyes princesses and get on with it!
1. I cannot find the reference but recall profit share is paid as 2 weeks upon reaching the profit target and 25% of the excess (profit-profit target) distributed amongst employees.
2. Considering point 1 it isnt a profit share it is a bonus at the whim of the owners.
3. This is not the appropriate forum to be discussing it; it should be the Emirates private forum. No wonder everyone else thinks we are a bunch of whining debuttantes.
Dry your eyes princesses and get on with it!
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VB
25 percent of 250 million AED is a LOT LOT LOT different than 25 percent 0f 1080 million AED!! in fact 400 percent different.
And why should we air it in a private forum!!
So where did it go!!
25 percent of 250 million AED is a LOT LOT LOT different than 25 percent 0f 1080 million AED!! in fact 400 percent different.
And why should we air it in a private forum!!
So where did it go!!
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Interestingly enough on the Cabin Crew portal it says that we're getting 4.5 weeks of "profit share bonus". That made me chuckle a bit. Maybe that's why we're getting so little!?! It's a bonus system based on the profit share amount. We were never supposed to get the whole cake, just part of a part of a part.
The profit share of this company have never added up. I had from VERY good sources a few years ago that the profits equaled 16 weeks of payout. When it was later announced, we got 11 weeks. The rest dissapeared into somebody's pocket. It's the same every year. Since we have no idea how much individual EK employees make, we have no way of checking the math, and they know that.
Besides, they don't really care. They just want to create a few smiles for the press, and pay enough so that the whole company doesn't just walk out the door.
On another note, I'm impressed by the level of positive thinking I've seen among some pilots. I've heard guys say that we'll maybe get compensated by EK raising our pay... Now it's my turn to wonder what drugs they're on. The pay rise was already announced a few months ago in order to hopefully stem som of the flood of pilot resignations, and to be able to post the new pay scale on the web for recruitment... We're getting diddly sqwat on top of that. If you want a "pay rise" you just go out there and put 150 long ones on the clock, and there's your pay rise. You can use the extra money in the grave when you pack it in at 60.0005 years of age.
The profit share of this company have never added up. I had from VERY good sources a few years ago that the profits equaled 16 weeks of payout. When it was later announced, we got 11 weeks. The rest dissapeared into somebody's pocket. It's the same every year. Since we have no idea how much individual EK employees make, we have no way of checking the math, and they know that.
Besides, they don't really care. They just want to create a few smiles for the press, and pay enough so that the whole company doesn't just walk out the door.
On another note, I'm impressed by the level of positive thinking I've seen among some pilots. I've heard guys say that we'll maybe get compensated by EK raising our pay... Now it's my turn to wonder what drugs they're on. The pay rise was already announced a few months ago in order to hopefully stem som of the flood of pilot resignations, and to be able to post the new pay scale on the web for recruitment... We're getting diddly sqwat on top of that. If you want a "pay rise" you just go out there and put 150 long ones on the clock, and there's your pay rise. You can use the extra money in the grave when you pack it in at 60.0005 years of age.
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Warlock 2000 you really are funny, a person who complains about the patronzing attitudes of his managment, then patronizes those who don't share his opinion.
- you were right, had to look up the word "idiom" with my neighbor since only two people can be blessed with the likes of your brain power -
Your idiom which you also got wrong is actually expressed as "not being able to see the forest for the trees" but excusing your hurried attempt at an idiom, I'll take it you meant to refer to the seeing the big picture, something you don't have very clear. Here I would say to you, take your own advice However bad things might seem to you at EK, they are far better than 90% of the world's airlines.
So me tell how you show your compassion for your fellow workers? by complaining about how didn't get a big enough profit share cheque? Oh please....
Now come on, I know being the greatful person you are, you'll say one nice thing about EK as a company, come on, you can do it...say it...say it....awww looks like you won't, what a surprise. I know, I know SAVE IT!!
- you were right, had to look up the word "idiom" with my neighbor since only two people can be blessed with the likes of your brain power -
Your idiom which you also got wrong is actually expressed as "not being able to see the forest for the trees" but excusing your hurried attempt at an idiom, I'll take it you meant to refer to the seeing the big picture, something you don't have very clear. Here I would say to you, take your own advice However bad things might seem to you at EK, they are far better than 90% of the world's airlines.
So me tell how you show your compassion for your fellow workers? by complaining about how didn't get a big enough profit share cheque? Oh please....
Now come on, I know being the greatful person you are, you'll say one nice thing about EK as a company, come on, you can do it...say it...say it....awww looks like you won't, what a surprise. I know, I know SAVE IT!!
Last edited by six7driver; 27th Apr 2007 at 20:54.
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"Sorry, we are not able to improve the profit share this year, we had an extraordianry expense of a pilot pay raise"
Emirates posts record full-year profit, reveals interest in more A380s
Friday April 27, 2007
Emirates' star continues to rise, as evidenced by the record AED3.46 billion ($941.8 million) profit the parent company reported for the fiscal year ended March 31, representing a 23.5% increase over the prior year's profit of AED2.8 billion and based largely on the AED3.1 billion in net earnings contributed by the airline.
Emirates Group also includes Dnata and subsidiary companies. "For the third year running, pressure from fuel costs has softened our profits, while the delay on our A380 aircraft deliveries has meant that we have had to revisit our expansion plans," Chairman and CEO Sheikh Ahmed bin Saeed Al-Maktoum said. "In spite of these factors, the Group has continued to forge ahead. . .expanding our operations into new markets and adding capacity to existing markets offering the highest returns, innovating to attract and retain premium customers and keeping a close watch on unit costs."
Group revenue rose 28.4% to AED31.13 billion against a 29.3% lift in expenses to AED27.61 billion. Operating income increased 23.5% to AED3.63 billion. Emirates Airline's profit, up 25.1% from the previous fiscal year's AED2.48 billion, highlighted a period during which operating profit rose 25.9% to AED3.34 billion on a 29.5% gain in revenue to AED29.84 billion and a 30.2% increase in costs to AED26.68 billion. Its operating margin was down 0.3 point to 11.4%.
EK flew 77.95 billion RPKs during the 12 months, up 25.2% from the prior year. Capacity climbed 24.8% to 102.34 billion ASKs and load factor was up 0.3 point to 76.2%. It added 11 aircraft and six destinations and its fleet at year end numbered 102, including six 747 freighters on wet-lease. Overall yield increased 6.5% to AED2.16 and passenger yield rose 5.8%. Cost per ATK was up 6% to AED1.29.
At the carrier's briefing in Dubai yesterday, Al-Maktoum said negotiations with Airbus concerning A380 compensation should be completed next week and EK will be buying more of the type in the future. "We are talking with Airbus about ordering an additional small number of A380s. Maybe we will make an announcement this year," he told ATWOnline, adding that he is confident the first A380 will be delivered in August 2008.
President Tim Clark told this website that the airline "easily could absorb" 5-15 more A380s, while Executive Vice Chairman Maurice Flanagan said the aircraft also would work well in a low-cost business model, which he said the company is considering "a little bit."
Clark expressed excitement about the A350 XWB. Emirates will be looking to replace around 50 aircraft by 2013, including some A330-200s, A340-300s, 777-200s and 777-300s. He said Airbus has added to the A350 "all the things we have asked for," and that the airline hopes to present its choice between the 787 and A350 to Al-Maktoum this summer. It is looking to order 60-100 aircraft and operate a fleet of 161 planes by 2010.
by Kurt Hofmann and Brian Straus
Emirates posts record full-year profit, reveals interest in more A380s
Friday April 27, 2007
Emirates' star continues to rise, as evidenced by the record AED3.46 billion ($941.8 million) profit the parent company reported for the fiscal year ended March 31, representing a 23.5% increase over the prior year's profit of AED2.8 billion and based largely on the AED3.1 billion in net earnings contributed by the airline.
Emirates Group also includes Dnata and subsidiary companies. "For the third year running, pressure from fuel costs has softened our profits, while the delay on our A380 aircraft deliveries has meant that we have had to revisit our expansion plans," Chairman and CEO Sheikh Ahmed bin Saeed Al-Maktoum said. "In spite of these factors, the Group has continued to forge ahead. . .expanding our operations into new markets and adding capacity to existing markets offering the highest returns, innovating to attract and retain premium customers and keeping a close watch on unit costs."
Group revenue rose 28.4% to AED31.13 billion against a 29.3% lift in expenses to AED27.61 billion. Operating income increased 23.5% to AED3.63 billion. Emirates Airline's profit, up 25.1% from the previous fiscal year's AED2.48 billion, highlighted a period during which operating profit rose 25.9% to AED3.34 billion on a 29.5% gain in revenue to AED29.84 billion and a 30.2% increase in costs to AED26.68 billion. Its operating margin was down 0.3 point to 11.4%.
EK flew 77.95 billion RPKs during the 12 months, up 25.2% from the prior year. Capacity climbed 24.8% to 102.34 billion ASKs and load factor was up 0.3 point to 76.2%. It added 11 aircraft and six destinations and its fleet at year end numbered 102, including six 747 freighters on wet-lease. Overall yield increased 6.5% to AED2.16 and passenger yield rose 5.8%. Cost per ATK was up 6% to AED1.29.
At the carrier's briefing in Dubai yesterday, Al-Maktoum said negotiations with Airbus concerning A380 compensation should be completed next week and EK will be buying more of the type in the future. "We are talking with Airbus about ordering an additional small number of A380s. Maybe we will make an announcement this year," he told ATWOnline, adding that he is confident the first A380 will be delivered in August 2008.
President Tim Clark told this website that the airline "easily could absorb" 5-15 more A380s, while Executive Vice Chairman Maurice Flanagan said the aircraft also would work well in a low-cost business model, which he said the company is considering "a little bit."
Clark expressed excitement about the A350 XWB. Emirates will be looking to replace around 50 aircraft by 2013, including some A330-200s, A340-300s, 777-200s and 777-300s. He said Airbus has added to the A350 "all the things we have asked for," and that the airline hopes to present its choice between the 787 and A350 to Al-Maktoum this summer. It is looking to order 60-100 aircraft and operate a fleet of 161 planes by 2010.
by Kurt Hofmann and Brian Straus
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If I recall Accomodation Allowance increments are usually announced with the Profit Share .
Is this correct?
Does anyone know if any comment was made on Accomodation Allowances and if not, was there any indication of when this might be announced?
Latest rumour (apparently from high up the food chain) is that because there has been no announcement there is to be no increment.
I suppose because good contracts were negotiated a few years back on Silicon Oasis and there are still many houses left to fill there is no need to increase the Accomodation Allowance. Anyone who moved out a few years back can sink or swim and be replaced with a cheaper pilot with cheaper accomodation. Besides if all pilots ultimately wind up at Silicon Oasis (soon to be named Pilot City!) it makes logistics easier.
Neat solution to a number of issues really....
Is this correct?
Does anyone know if any comment was made on Accomodation Allowances and if not, was there any indication of when this might be announced?
Latest rumour (apparently from high up the food chain) is that because there has been no announcement there is to be no increment.
I suppose because good contracts were negotiated a few years back on Silicon Oasis and there are still many houses left to fill there is no need to increase the Accomodation Allowance. Anyone who moved out a few years back can sink or swim and be replaced with a cheaper pilot with cheaper accomodation. Besides if all pilots ultimately wind up at Silicon Oasis (soon to be named Pilot City!) it makes logistics easier.
Neat solution to a number of issues really....
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I thought the RUMOUR was that soon if you come to EK you won't have the choice of company accomodation or utilities. It's EK accom no negotiation!! If you want to move out it will be up to you to pay for it. Notwithstanding those already on utilities will be given the choice of moving back into company accomodation before the utilities dry up................................it is a RUMOUR NETWORK but in this case not such an agreeable rumour!!!!