Ek Profit share forecasts
Its on the portal. A letter thanking everyone for their hard work and understanding during uncertain times, and it says 32 weeks and 15%.
Not too bad.
The Don
Not too bad.
The Don
short flights long nights
and todays date is....???????
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Every year ppl start to spread rumours about how many weeks the bonus will be. They all have reliable sources and its always ..........not accurate to say the least.
Myself too, have a "realible source" which says 8 WEEKS.
Mark my post, Im pretty sure on this one
Myself too, have a "realible source" which says 8 WEEKS.
Mark my post, Im pretty sure on this one
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Every year ppl start to spread rumours about how many weeks the bonus will be. They all have reliable sources and its always ..........not accurate to say the least.
Myself too, have a "realible source" which says 8 WEEKS.
Mark my post, Im pretty sure on this one
Myself too, have a "realible source" which says 8 WEEKS.
Mark my post, Im pretty sure on this one
However, recent developments up to the end of March could provide the excuse to drop a couple of weeks.... ergo I'm expecting 6-8.
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some math
Considering what the target was (1.1 billions) and what they reached (2 billions)we should have something like 250 million dollars to share.
Considering that those who are eligible to receive the profit share did not increase that much compared to 2 years ago it should be a quite fat piece of cake.
In the mean time it seems that management during the wash ups acknowledged that the are struggling in finding new pilots.
At this point what can we say, it will take just one more month to find out if they really want to solve the problems.....if not we are all quite old to make our proper decisions......
Good luck to everybody
Flare
Considering that those who are eligible to receive the profit share did not increase that much compared to 2 years ago it should be a quite fat piece of cake.
In the mean time it seems that management during the wash ups acknowledged that the are struggling in finding new pilots.
At this point what can we say, it will take just one more month to find out if they really want to solve the problems.....if not we are all quite old to make our proper decisions......
Good luck to everybody
Flare
You're a free-thinker, Wiz. Have a think about what they handed out last year - three weeks. It doesn't take rocket science to figure out how they came to that figure.
Has (and this is an honest question) there been a year where EK DIDN'T distribute a bonus in line with the policy? (Last year being a unique situation).
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Anytime the masters reach target the employees get two weeks profit share. However 25% of the profits above target also go back to the employees in the form of bonus weeks.
Since EK reached target 5 months into the year we have 7 months of 25% of the profits going to us. That is in the neighborhood of 20-22 weeks judging by their reports to the investors.
Anything less than 20 weeks will be just another robbery in the long list by the masters agsinst us.
How much are they going to steal from us this year?
Since EK reached target 5 months into the year we have 7 months of 25% of the profits going to us. That is in the neighborhood of 20-22 weeks judging by their reports to the investors.
Anything less than 20 weeks will be just another robbery in the long list by the masters agsinst us.
How much are they going to steal from us this year?
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22 weeks....
I find it funny to see all this optimistic guesses on profit share..22 weeks?
Ah ah ah!!! So funny!!
Probably your are not taking into account the large debt that Dubai still has to repay and my guess is that you will be disappointed. The cash cow is being milked to keep the Ruler afloat.. and well... may be he will still decide to buy some other multi million dollar properties in the UK with the spare coins.
As per EK struggling to find pilots no surprise. Some horrible stories of abuses , mobbing, unmotivated sacking, the essentially punishing culture, the unilaterality of decisons by management , the "contractual" violations, the night..marish rosters ,the impossibility of enforcing whatsoever right if not the one to shut up , the lack of transaparency and of legal system are spreading through the pilot community and those with a job and a brain just stay away. Beside that the number of options in places where civilizations exists is augmenting as the market recovers.
Add to this the decreasing appeal of Dubai among the general pubblic and the situation of unrest in the Middle East that, hopefully will bring the area out of the MIddle Age but at present renders the area unstable, and the picture is complete. Don' forget that they have ready the excuse of the increaing cost of fuel and most likely the above mentioned unrest easily could be used as an excuse.
Management will carefully and scientifically balance the different factors and find the minimum amount of money to keep you at the maximum level of unhappiness tollerable. That could be easily 0.
Keep recovering
Ah ah ah!!! So funny!!
Probably your are not taking into account the large debt that Dubai still has to repay and my guess is that you will be disappointed. The cash cow is being milked to keep the Ruler afloat.. and well... may be he will still decide to buy some other multi million dollar properties in the UK with the spare coins.
As per EK struggling to find pilots no surprise. Some horrible stories of abuses , mobbing, unmotivated sacking, the essentially punishing culture, the unilaterality of decisons by management , the "contractual" violations, the night..marish rosters ,the impossibility of enforcing whatsoever right if not the one to shut up , the lack of transaparency and of legal system are spreading through the pilot community and those with a job and a brain just stay away. Beside that the number of options in places where civilizations exists is augmenting as the market recovers.
Add to this the decreasing appeal of Dubai among the general pubblic and the situation of unrest in the Middle East that, hopefully will bring the area out of the MIddle Age but at present renders the area unstable, and the picture is complete. Don' forget that they have ready the excuse of the increaing cost of fuel and most likely the above mentioned unrest easily could be used as an excuse.
Management will carefully and scientifically balance the different factors and find the minimum amount of money to keep you at the maximum level of unhappiness tollerable. That could be easily 0.
Keep recovering
Last edited by sheikmyarse; 5th Apr 2011 at 11:08.
Food for thought??
Consider that CX announced their biggest ever profit recently ($1.8 Bill US), and their Profit Share to the workers......... a grand 5 weeks. Don't get me wrong, any profit share is better than nothing, but....
b.
b.
WHY of why do managers, who are actually destroying this company,
So, a company that made 2 BILLION dollars in the last year is being "Destroyed"?
If anyone doubted you were posting out of emotion rather than actual observation, this confirms it.
Fact,
In one extraordinary year they did not announce a target, yet still gave us a bonus. Every other year they have announced a profit, and distributed a profit share in line with the policy. You have yet to explain what the "Precedent" is that leads you to four weeks?
Is the announced figure manipulated? Quite possibly. But they distribute in accordance with what they announce, and they are about to announce 2 Billion.
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Attempting the math...
Everyone is expecting a USD2bil profit which is AED7.36bil
Target is AED4.25b
Profit above target is AED3.11
25% of that is AED0.7775b or AED777.5mil
According to last years Annual report the company paid a total salary of AED6.345bil for the year. Which is about AED122mil a week in salary
Assuming they are not paying more salary this year, the Company will only have about 6.37 weeks to share. That is the 777.5 mil in to 122mil.
Well, I am no actuary or accountant. My reasoning could be totally flawed.
This is what I'm expecting. I wish it was more....
I can't compare it with the 3 weeks they gave last year since there was no target. The year before, that we got nothing. And I don't have the report from the earlier years to see if my reasoning is consistent with the profit share payout.
Obviously, the company is paying more salary this year. So, I guess, we might get less than 6 weeks.
SOMEONE PLEASE PROVE ME WRONG.
Target is AED4.25b
Profit above target is AED3.11
25% of that is AED0.7775b or AED777.5mil
According to last years Annual report the company paid a total salary of AED6.345bil for the year. Which is about AED122mil a week in salary
Assuming they are not paying more salary this year, the Company will only have about 6.37 weeks to share. That is the 777.5 mil in to 122mil.
Well, I am no actuary or accountant. My reasoning could be totally flawed.
This is what I'm expecting. I wish it was more....
I can't compare it with the 3 weeks they gave last year since there was no target. The year before, that we got nothing. And I don't have the report from the earlier years to see if my reasoning is consistent with the profit share payout.
Obviously, the company is paying more salary this year. So, I guess, we might get less than 6 weeks.
SOMEONE PLEASE PROVE ME WRONG.
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So, a company that made 2 BILLION dollars in the last year is being "Destroyed"?
Have a look here, food for thought...could be what Sittingly had in mind:
http://performance-rules.com/perform...pany’s-culture
Destroying a Company’s Culture
Former IBM CEO, Lou Gerstner, said, “I came to see, in my time at IBM, that culture isn’t just one aspect of the game – it is the game.”
“I always viewed culture as one of those things you talked about, like marketing and advertising. It was one of the tools that a manager had at his or her disposal when you think about an enterprise. The thing I have learned at IBM is that culture is everything.”