EK Profit Share....
Join Date: Jan 2006
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14 weeks is fair, and all I have to say to the company is you're welcome. My collegues and I have put in one hell of a year for the company to once again make record profits. Don't get me wrong, I want the company to remain profitable but the profit share is just our piece of the pie.
Once again YOU'RE WELCOME.
7
Once again YOU'RE WELCOME.
7
Last edited by airbus757; 1st May 2008 at 07:47.
Join Date: Mar 2005
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Well done to all of EK's groups hard workers, you deserve it!
Very Very Well said ab757. I think that sums it all the best. No favor here. That's what i came here for. Like all of you i'm sure. Getting paid as much as possible is everybody's aim. No exceptions. Well maybe those "i'm so happy people" would say differently. When the bonus is less we say you're welcome, and when it's more we say you're welcome as well. 14 weeks bonus is a good business financially year i agree, no doubt. Same as Air Arabia by the way. Well done to all of EK's groups employees from bottom to top who have done very well what they are suppose to do and now collect the reward for their hard work. Nothing else. Good thing the target was not 300M higher cause... 
We are ALL employees except one and we all need each other to achieve the targets. Some get much less for much more work we all know this. But generally everybody works hard no matter where you are in the food chain, no exceptions. Does it fix the mess of EK and the zoo of Dubai? No. Personally all that retains me here is money. Quality of life? Doesn't count for me anymore. More minuses than pluses these days to live here. Working for EK in these conditions has to bring me enough money in the future for me to tolerate this freak show. Good thing there is more time behind me than ahead of me. The bonus closes 2007-2008 financial year for me. I still have to calculate my productivity for the whole year to see how much difference compare to last year before i start celebrating. Let's see how 2008-2009 financial year starts in a couple of weeks with the pay review. That's business and money we are talking about. Not happiness please 
That subject is way overdone i think. In the mean time i wish all of you the best for 2008-2009 financial year. I know one thing, nothing is for free around here, and getting much much more expensive by the minute and you will deserve and need every single dirham you will earn with your hard word. This I'm a 100% sure.
In the mean time, EK you're welcome!
Keep discovering
We are ALL employees except one and we all need each other to achieve the targets. Some get much less for much more work we all know this. But generally everybody works hard no matter where you are in the food chain, no exceptions. Does it fix the mess of EK and the zoo of Dubai? No. Personally all that retains me here is money. Quality of life? Doesn't count for me anymore. More minuses than pluses these days to live here. Working for EK in these conditions has to bring me enough money in the future for me to tolerate this freak show. Good thing there is more time behind me than ahead of me. The bonus closes 2007-2008 financial year for me. I still have to calculate my productivity for the whole year to see how much difference compare to last year before i start celebrating. Let's see how 2008-2009 financial year starts in a couple of weeks with the pay review. That's business and money we are talking about. Not happiness please That subject is way overdone i think. In the mean time i wish all of you the best for 2008-2009 financial year. I know one thing, nothing is for free around here, and getting much much more expensive by the minute and you will deserve and need every single dirham you will earn with your hard word. This I'm a 100% sure. In the mean time, EK you're welcome!
Keep discovering
Join Date: Jun 2004
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dhs vs other currency
Funny numbers everybody is throwing away from all direction.
So far, unless you have children, got divorced or you are about to exit and convert your dhs in something else, well, you didn t lose much but it s hard to send money away .
I m glade i don t have to change my monopoly money in other currency just yet. That would hurt. Since most of us joined, we lost a hard 30% plus in exchange. Also, we don t get the 12 % pension on the flying pay. Can t go anywhere , the flights are full, vacations are out of price for families if ever you can reach destination. Does your wife work at all, if she use to, you lost that income too.
They are not short of pilots, just not yet. They offer additional summer peak leave, they are burning as much of the accumulated vacation and they slow down the Dec program.
What are they giving for housing ? Around 140 000 dhs for Capt, 120 000 for FO, Where can you get a villa for that money ? You need 250 000 dhs and above.
Bonus: last year 41/2 week, ho well, they just gave us back the last year missing bonus plus the one for this year.( 4.5 + 14 divided by 2= 8.25 weeks a year for the last 2 years. People forget quickly.
Soon they will train there own pilot ans lock them up for 10 to 15 years with them. Problem solve. Dont dream too much...
There is 1 positive thing, people pay a **** load of taxes back home on any income, we don t .
Funny to think that a first year A380 captain will be making a little less the 9000 US a month lol .
They have earased one of the pay scale last year so.....all of us ,except the new joiner ,actually whip-out one of the hardly earn 3 % raise of the past year since the joiner are one pay scale closer from us. Specially the DEC.
14 days off max per roster lol, hello commuters.
That will be funny to see all these cabin crew pocketting there bonus and flying away.
What s the next surprise? Sit down and wait, you have nothing to say.
So far, unless you have children, got divorced or you are about to exit and convert your dhs in something else, well, you didn t lose much but it s hard to send money away .
I m glade i don t have to change my monopoly money in other currency just yet. That would hurt. Since most of us joined, we lost a hard 30% plus in exchange. Also, we don t get the 12 % pension on the flying pay. Can t go anywhere , the flights are full, vacations are out of price for families if ever you can reach destination. Does your wife work at all, if she use to, you lost that income too.
They are not short of pilots, just not yet. They offer additional summer peak leave, they are burning as much of the accumulated vacation and they slow down the Dec program.
What are they giving for housing ? Around 140 000 dhs for Capt, 120 000 for FO, Where can you get a villa for that money ? You need 250 000 dhs and above.
Bonus: last year 41/2 week, ho well, they just gave us back the last year missing bonus plus the one for this year.( 4.5 + 14 divided by 2= 8.25 weeks a year for the last 2 years. People forget quickly.
Soon they will train there own pilot ans lock them up for 10 to 15 years with them. Problem solve. Dont dream too much...
There is 1 positive thing, people pay a **** load of taxes back home on any income, we don t .
Funny to think that a first year A380 captain will be making a little less the 9000 US a month lol .
They have earased one of the pay scale last year so.....all of us ,except the new joiner ,actually whip-out one of the hardly earn 3 % raise of the past year since the joiner are one pay scale closer from us. Specially the DEC.
14 days off max per roster lol, hello commuters.
That will be funny to see all these cabin crew pocketting there bonus and flying away.
What s the next surprise? Sit down and wait, you have nothing to say.
Last edited by galactica; 2nd May 2008 at 09:19.
Join Date: Jul 2007
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To the following-
Puffncall
Mister Warning
Fart Master
GoreTex
Big Geordie
Rabbitwear
eklawyer
BIKKERDENNAH
Please be big enough to say you were WRONG. Ha, it was a cack reading your whining posts of prophecy.
Oh and Goretex- time to stick that bayonet in your head.
OZ in DXB was the only one spot on.
Puffncall
Mister Warning
Fart Master
GoreTex
Big Geordie
Rabbitwear
eklawyer
BIKKERDENNAH
Please be big enough to say you were WRONG. Ha, it was a cack reading your whining posts of prophecy.
Oh and Goretex- time to stick that bayonet in your head.
OZ in DXB was the only one spot on.
Join Date: Jun 2001
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Flashy, I deserve a mention on your list. While I didn't exactly promise to bear my bum in Bourke Street, I was one of the naysayers and have to admit to being very, very pleasantly surprised.
With the unabashed intention of spreading the word to the many EK drivers not on Anders' All Pilots' Group, would anyone like to comment on Manuel's suggestion that we all gain a bit of good karma by sharing a very small slice of our good fortune with Maria and her incredible Dhaka Project?
No one will be surprised after reading the above that I think it's an excellent suggestion. Even 50 or 100 Dirhams from each of us would make an incredible difference to DP's bottom line, while given the amount we've all received, some might feel they could add another zero to their contribution.
It's simply a matter of slipping an envelope with a cheque or a banknote (or two) in it into Box 500 at the CBC.
For those not familiar with the Dhaka Project, the creation of one of EK's Flight Attendants, see: www.thedhakaproject.org
With the unabashed intention of spreading the word to the many EK drivers not on Anders' All Pilots' Group, would anyone like to comment on Manuel's suggestion that we all gain a bit of good karma by sharing a very small slice of our good fortune with Maria and her incredible Dhaka Project?
No one will be surprised after reading the above that I think it's an excellent suggestion. Even 50 or 100 Dirhams from each of us would make an incredible difference to DP's bottom line, while given the amount we've all received, some might feel they could add another zero to their contribution.
It's simply a matter of slipping an envelope with a cheque or a banknote (or two) in it into Box 500 at the CBC.
For those not familiar with the Dhaka Project, the creation of one of EK's Flight Attendants, see: www.thedhakaproject.org
Join Date: Jul 2007
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Fart Master- Maybe my point was- What comes out of your mouth seems to come to be the same as your handle indicates.
Certainly you are full of hot air.
Wiley-
Excellent suggestion, I will drop off a cheque on Monday.
Certainly you are full of hot air.
Wiley-
Excellent suggestion, I will drop off a cheque on Monday.
Join Date: Feb 2000
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Magnificent news, I certainly didn't expect that much. It certainly helps to put us closer to where we used to be. A friend and I were discussing the numbers last week and they make interesting reading, the exchange rate is the big killer and the 'cost neutral' scam; otherwise we would be doing pretty well.
In 2000 a starting Captain made (including pension 12%):
315840 AED Salary and pension
21692 Profit Share (4 weeks)
337532 Total = $92,000 or 59,000GBP (1.55 rate)
In 2008 the same guy got:
399840 AED Salary and pension
96115 Profit Share (14 weeks)
36000 Flying Pay (800hrs/year)
531955 Total
The 'cost neutral' cost 20% credit so this factored for the same work in 2000 (In 2000 at the current workrate we would have had serious O/T):
425564 AED = $116,000 = 58,000GBP (2.0 rate)
If you worked on conservative average inflation of 8% since 2000, the dollar amount to match 2000's salary would be:
$170,000, in comparison the starting guy actually got $145,000 for 20% more work. So even with the bumper profit share, if you came from a dollar based currency, the decline over that period was 17% salary for 20% more work, or from GBP neraly 30%.
So whilst I am delighted to take the profit share, I still would have preferred our base terms and conditions to have returned to 2000 levels rather than the one off bonus which will probably not be repeated. Other sectors have had raises of 70% this year or more (including ATC) to try and make the package truly competitive at todays prices. That is why the old timers are cynical; they know that the 14 weeks has been generated by increasing their productivity and pay lagging inflation over the last few years.
I see there was no profit target set for next year, does that hint at an IPO? Maybe this is all part of the PR ramp up for the listing. Now if we do get a great payrise, that would change the picture entirely.
Ghost
In 2000 a starting Captain made (including pension 12%):
315840 AED Salary and pension
21692 Profit Share (4 weeks)
337532 Total = $92,000 or 59,000GBP (1.55 rate)
In 2008 the same guy got:
399840 AED Salary and pension
96115 Profit Share (14 weeks)
36000 Flying Pay (800hrs/year)
531955 Total
The 'cost neutral' cost 20% credit so this factored for the same work in 2000 (In 2000 at the current workrate we would have had serious O/T):
425564 AED = $116,000 = 58,000GBP (2.0 rate)
If you worked on conservative average inflation of 8% since 2000, the dollar amount to match 2000's salary would be:
$170,000, in comparison the starting guy actually got $145,000 for 20% more work. So even with the bumper profit share, if you came from a dollar based currency, the decline over that period was 17% salary for 20% more work, or from GBP neraly 30%.
So whilst I am delighted to take the profit share, I still would have preferred our base terms and conditions to have returned to 2000 levels rather than the one off bonus which will probably not be repeated. Other sectors have had raises of 70% this year or more (including ATC) to try and make the package truly competitive at todays prices. That is why the old timers are cynical; they know that the 14 weeks has been generated by increasing their productivity and pay lagging inflation over the last few years.
I see there was no profit target set for next year, does that hint at an IPO? Maybe this is all part of the PR ramp up for the listing. Now if we do get a great payrise, that would change the picture entirely.
Ghost
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Ghostflyer
The target has been set at 5 Billion for next financial year. We achieved 5.3 for 2007/8. Profit share is very much alive and well for another year at least!
Harry
The target has been set at 5 Billion for next financial year. We achieved 5.3 for 2007/8. Profit share is very much alive and well for another year at least!
Harry
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Ducking the incoming mud pies, allow me to re-post MTOW's excellent post so it's on the active page:
If you feel parting with a 'bluey' is too rich for you, slip a 50 or 100 into Manuel's box.
Good idea, Wiley. "500 into box 500" has a nice ring to it. What's that? - about 1.5% of what most of us got.
Anyone know when the pay review is going to be announced? Is it very quite or have I missed something?
Show me the money!!!!!
Don
Show me the money!!!!!
Don
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Over the past few years the pay rise has been announced on or around the 18 - 24 May, in 2007 they were so worried they announced it in Jan 2007!!
Don't know whether they are waiting to the last minute to see if anything changes but it should be announced towards the end of May.
I'm sure they have already decided what to give. However if they show any common sense theywill realise that the package that EK gives is not as good as it used to be. They need to increase the package for everyone especially taking into account the looming shortages of ground staff and office workers who can all get better packages at other companiues in Dubai, I think someone told me recently that a GR2s basic pay has only increased by 600dirhams over the last 15+years. EK is NOT the premier company it used to be in relation to pay and package and that is blatantly obvious. They have a chance to really impress everyone with a decent pay increase on the BASIC pay, not the add ons - but don't hold your breath!!!
PS I think the bonus was reaslistic this year and was pleasantly surprised by it!!
Don't know whether they are waiting to the last minute to see if anything changes but it should be announced towards the end of May.
I'm sure they have already decided what to give. However if they show any common sense theywill realise that the package that EK gives is not as good as it used to be. They need to increase the package for everyone especially taking into account the looming shortages of ground staff and office workers who can all get better packages at other companiues in Dubai, I think someone told me recently that a GR2s basic pay has only increased by 600dirhams over the last 15+years. EK is NOT the premier company it used to be in relation to pay and package and that is blatantly obvious. They have a chance to really impress everyone with a decent pay increase on the BASIC pay, not the add ons - but don't hold your breath!!!
PS I think the bonus was reaslistic this year and was pleasantly surprised by it!!
Join Date: May 2006
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Prediction:
3% increment + 10-12% on basic.
50% on flying pay.
Possibly a tweak on other allowances like living out which is neither here nor there as most people don't take it so they may as well keep it.
3% increment + 10-12% on basic.
50% on flying pay.
Possibly a tweak on other allowances like living out which is neither here nor there as most people don't take it so they may as well keep it.
Join Date: Mar 2004
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Check Six you must be joking! It would be great if they did tho...
No the estimate is:
5% on Basic
100% on Flying Pay
12% on Utilities
10% on Education
Overtime to Dhs 510 (10%)
This formula suits them for all the overtime we will be doing once they get rid of those irritating hourly restrictions.
Salary review to be released on 15th or 22nd so we all have a weekend to cool down and accept the shafting that will inevitably be built in. (Perhaps raising the productivity threshold)
Education and Utilities review will be in June along with the rest of the airline salary reviews.
No the estimate is:
5% on Basic
100% on Flying Pay
12% on Utilities
10% on Education
Overtime to Dhs 510 (10%)
This formula suits them for all the overtime we will be doing once they get rid of those irritating hourly restrictions.
Salary review to be released on 15th or 22nd so we all have a weekend to cool down and accept the shafting that will inevitably be built in. (Perhaps raising the productivity threshold)
Education and Utilities review will be in June along with the rest of the airline salary reviews.
