Emirates Pay Increase
Thread Starter
Joined: Sep 2006
Posts: 712
Likes: 0
From: not in Dubai anymore
Emirates Pay Increase
Colleagues –
The past financial year has been an incredibly difficult one for the worldwide airline industry and for Emirates this has been no exception. The difference between this last year and the previous one could not be more dramatic. After record profits for us in the Financial Year 2007-2008 we have found the commercial environment in 2008-2009 far more of a challenge.
In an effort to focus on job security and continuance of employment, in January, the company, after much deliberation, took the decision to implement a freeze on all pay reviews across the organisation. This decision has continued to be monitored carefully and is still in place. As such, there will be no change to the current flight crew remuneration package that is usually announced around this time of the year. The 3% step increase to base pay, which we have historically provided pilots, will also not be paid this year. I fully recognize that this will be a disappointment to you, but believe that you understand the rationale behind these difficult decisions. We will continue to review the situation carefully and, as we emerge from what is clearly a difficult period, may reassess this decision so that we do not unduly prolong these measures.
Alan, Martin and I would like to take this opportunity to thank you for your loyalty and professionalism in supporting our highly demanding operation. As we go through this challenging time the greatest contribution we can make as a pilot group to sustained profitability, business and personal success is to ensure a safe flight operation.
Regards,
Horseman
The past financial year has been an incredibly difficult one for the worldwide airline industry and for Emirates this has been no exception. The difference between this last year and the previous one could not be more dramatic. After record profits for us in the Financial Year 2007-2008 we have found the commercial environment in 2008-2009 far more of a challenge.
In an effort to focus on job security and continuance of employment, in January, the company, after much deliberation, took the decision to implement a freeze on all pay reviews across the organisation. This decision has continued to be monitored carefully and is still in place. As such, there will be no change to the current flight crew remuneration package that is usually announced around this time of the year. The 3% step increase to base pay, which we have historically provided pilots, will also not be paid this year. I fully recognize that this will be a disappointment to you, but believe that you understand the rationale behind these difficult decisions. We will continue to review the situation carefully and, as we emerge from what is clearly a difficult period, may reassess this decision so that we do not unduly prolong these measures.
Alan, Martin and I would like to take this opportunity to thank you for your loyalty and professionalism in supporting our highly demanding operation. As we go through this challenging time the greatest contribution we can make as a pilot group to sustained profitability, business and personal success is to ensure a safe flight operation.
Regards,
Horseman
Joined: Apr 2003
Posts: 1,034
Likes: 2
From: UAE
I think the profit share is a forgone conclusion. Emirates is certainly not the only airline to have a pay freeze this year but inflation in the UAE is still very high compared to Europe and the USA and the company is still making a good profit. In the light of that the decision not to even award the 3% increment does seem a little mean.
Joined: Aug 2006
Posts: 125
Likes: 0
From: UAE
I am over this place! Can't wait for the market to recover. We need a few opportunities to get out!!!! The reasons we are here are not there anymore. I came here for the $$$$$$ and a good roster/lifestyle. I guess it is like a pot of water on a slow fire, getting too warm for me.
Joined: Nov 1998
Posts: 709
Likes: 146
From: Planet Earth
Sheikh Your Bootie.......
It's actually not as bad as you think, according to the IMF, who are predicting UAE inflation at about 2.0 for 2009, which is down from a 'modest' 11.5 in 2008, then rising to 3.1 in 2010.
Refer: Page 209 of http://www.imf.org/external/pubs/ft/...1/pdf/text.pdf
Hoiwever, if the Company as a whole is still making profits then a bit of 'goodwill' on its part would seem to be a pretty sensible 'investment', particularly with all the negative sentiments that are being expressed about management, so 'yes', you're sentiment about C***s seems spot-on.
C***s anyhow, it = a pay cut, with inflation @ 8% or therabouts.
Refer: Page 209 of http://www.imf.org/external/pubs/ft/...1/pdf/text.pdf
Hoiwever, if the Company as a whole is still making profits then a bit of 'goodwill' on its part would seem to be a pretty sensible 'investment', particularly with all the negative sentiments that are being expressed about management, so 'yes', you're sentiment about C***s seems spot-on.
Last edited by SIUYA; 27th April 2009 at 23:19.
Joined: Apr 2009
Posts: 11
Likes: 0
From: planet earth
Well I wonder what the annual cost savings were for the statistical fuel savings we see each month. Well done to all the pilots for flying around on a wing and prayer with little or no hold fuel, only to be rewarded with the fact you helped increase their profit. Dubai is selling bonds to raise cash because it is broke, like paying local pilots 6oooAED a month for the UAE living allowance and an exorbitent pension, they want to proove their status as greedy slave drivers and pay little or nothing and want more than everything. A profit share, Hahaha
