EK Financial Results Announcement
short flights long nights
TCAS gets 8 times 9. Good money for some wheely bags.
Join Date: May 2014
Location: Attic
Age: 59
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
Of course it is viable as long as they will have a proper accounting transaction.
What are the world's airlines reporting? 1 Billion profit for a quarter and Emirates can "only" manage $1.9 Billion or the year.
Oil is probably not going to be any lower, the labor costs are the lowest in the industry by far and they have no curfew or pesky Regulator to get in the way of printing money.
Their profit should be $4 to $5 Billion and that is US.
9 weeks is way below par.
Here's hoping I won't be around for next years "announcement". I'm sure it will be another huge disappointment.
What are the world's airlines reporting? 1 Billion profit for a quarter and Emirates can "only" manage $1.9 Billion or the year.
Oil is probably not going to be any lower, the labor costs are the lowest in the industry by far and they have no curfew or pesky Regulator to get in the way of printing money.
Their profit should be $4 to $5 Billion and that is US.
9 weeks is way below par.
Here's hoping I won't be around for next years "announcement". I'm sure it will be another huge disappointment.
Join Date: Aug 2006
Location: >FL310
Posts: 429
Likes: 0
Received 0 Likes
on
0 Posts
Bet on it....the working conditions will not get any better in the near future. Doubt if they will pay "the extra mile" for work (hours). So the only solution to tap down the masses was to throw some serious dhs at us. Which they decided NOT to do. They did NOTHING to change the game for all the employees. Someone said....GulfAir 2.0
Join Date: Jul 2004
Location: North of 0
Posts: 197
Likes: 0
Received 0 Likes
on
0 Posts
American Airlines posted a record profit in the first quarter of $932 million or $1.30 per share.
Not counting special items the world's largest airline also reported a record first quarter profit of $1.2 billion, or $1.73 per share, three times the profit earned at the start of 2014.
Not counting special items the world's largest airline also reported a record first quarter profit of $1.2 billion, or $1.73 per share, three times the profit earned at the start of 2014.
Join Date: Aug 2000
Location: Monrovia / Liberia
Age: 63
Posts: 757
Likes: 0
Received 0 Likes
on
0 Posts
The new EK company song !
Expect a chorus line of (faux) EK 'Cabin Crew' to soon be singing this in some HR-Dept / Recruitment advert soon ! 
Gold Diggers - "We're in the Money"
Gold Diggers - "We're in the Money"
Join Date: Dec 2002
Location: usa
Posts: 1,005
Likes: 0
Received 0 Likes
on
0 Posts
To put the numbers in perspective.
In 2009 we took a 15% pay cut (78-92)
Since then we have had raises totaling 5.5% - this does not include step 3% - that is not a raise.
So we are down 9.5% since 2009. A 10% pay raise on top of step gets us monetarily back to square one. I won't even go down the QOL rd.
So anything less than 13% on June 16th will be another "take it or leave it" mgt model move.
On the target next year - perhaps some, perspective:
The runway closure cost 1.7bn - so if we add that to 5.5bn we get 7.2bn.
If oil stays between 58-73 (FTs analysts ranges for FY '15) then we have a chance at 7.7bn as this years profit had six months of $90+. The fuel savings to the bottom line in Q 3&4 were 1.5bn. If we get 12 mos at sub $70 - 8bn is doable without a global 'event'
It won't be nine weeks - that's for sure.
So roll on June 16th....and let's see if they are really serious...otherwise with 20+ deliveries they will need to park planes or increase the monthly flying to high 90's - unsustainable.
f.
In 2009 we took a 15% pay cut (78-92)
Since then we have had raises totaling 5.5% - this does not include step 3% - that is not a raise.
So we are down 9.5% since 2009. A 10% pay raise on top of step gets us monetarily back to square one. I won't even go down the QOL rd.
So anything less than 13% on June 16th will be another "take it or leave it" mgt model move.
On the target next year - perhaps some, perspective:
The runway closure cost 1.7bn - so if we add that to 5.5bn we get 7.2bn.
If oil stays between 58-73 (FTs analysts ranges for FY '15) then we have a chance at 7.7bn as this years profit had six months of $90+. The fuel savings to the bottom line in Q 3&4 were 1.5bn. If we get 12 mos at sub $70 - 8bn is doable without a global 'event'
It won't be nine weeks - that's for sure.
So roll on June 16th....and let's see if they are really serious...otherwise with 20+ deliveries they will need to park planes or increase the monthly flying to high 90's - unsustainable.
f.
fliion,
Pay review should be before May 15th to be in the May pay. Last year was the first when it was delayed. I really hope we don't go through that again.
Pay review should be before May 15th to be in the May pay. Last year was the first when it was delayed. I really hope we don't go through that again.
Join Date: Dec 2002
Location: usa
Posts: 1,005
Likes: 0
Received 0 Likes
on
0 Posts
Don - I believe the big delay was to July 2013 - where after a long wait we received letter of step plus 0.5% retroactive to May 2013 pay check.
That was when things got really toxic as over the last three years we have gad a prorated increase of 0.5% divided over three years === 0.17% pa. That is not a joke to those who are new on here.
Last June 16, although late was closer to end of May than 2013.
Yes agree with above, no question the worst state of affairs re morale & sentiment. Much worse actually that the GFC when we took the big hit.
A huge part of the problem though is "delivery & tone" from Fleet mgt. An improvement on that front would be cost neutral for the Co. but somehow soft skills from above continues to evade our seniors.
It's very puzzling to vast majority of us who possess common sense logic (alcohol free ; > )
f.
That was when things got really toxic as over the last three years we have gad a prorated increase of 0.5% divided over three years === 0.17% pa. That is not a joke to those who are new on here.
Last June 16, although late was closer to end of May than 2013.
Yes agree with above, no question the worst state of affairs re morale & sentiment. Much worse actually that the GFC when we took the big hit.
A huge part of the problem though is "delivery & tone" from Fleet mgt. An improvement on that front would be cost neutral for the Co. but somehow soft skills from above continues to evade our seniors.
It's very puzzling to vast majority of us who possess common sense logic (alcohol free ; > )
f.
fliion,
Only have the letters from 2009. Dates as follows, 27/04/09; 06/05/10; 11/05/11; 15/05/12; 15/05/13; 16/06/14.
Our leave use to be all done by Dec as well. Yet no warning letters to those concerned.
Keep recovering.
Only have the letters from 2009. Dates as follows, 27/04/09; 06/05/10; 11/05/11; 15/05/12; 15/05/13; 16/06/14.
Our leave use to be all done by Dec as well. Yet no warning letters to those concerned.
Keep recovering.
Join Date: Aug 2003
Location: UAE
Age: 55
Posts: 119
Likes: 0
Received 0 Likes
on
0 Posts
flion - 78 hours to 92 hours for productivity in '09, more like 18% loss, without so much as a whimper ....
If salary was to match the extra work, multiplied by 6 years at 3% per annum, we would need a rise of approx 22% to place us at parody of our wages back in '09!
If salary was to match the extra work, multiplied by 6 years at 3% per annum, we would need a rise of approx 22% to place us at parody of our wages back in '09!
Join Date: May 2006
Location: Hotels
Posts: 189
Likes: 0
Received 0 Likes
on
0 Posts
We are placed at 'parody' with our '09 wages!
I quite like giving the signal that things will improve of moving the overtime threshold back to where it was but it will never happen. If we don't start to attract more crew the working conditions will deteriorate further and the leave promised in our contracts will never be achieved. Why do the company not approve conditions that have no material effect on safety or cost but would be of big benefit to crew and improve morale at a stroke.
I quite like giving the signal that things will improve of moving the overtime threshold back to where it was but it will never happen. If we don't start to attract more crew the working conditions will deteriorate further and the leave promised in our contracts will never be achieved. Why do the company not approve conditions that have no material effect on safety or cost but would be of big benefit to crew and improve morale at a stroke.
Join Date: Dec 2002
Location: usa
Posts: 1,005
Likes: 0
Received 0 Likes
on
0 Posts
The 2014/15 Group profit target was 3.7bn dhs. The year before it was 4.22bn. Reduced due runway closure.
The first half of 2014/15 - 2.2bn profit 2nd half 3.3bn - total 5.5bn
f.
The first half of 2014/15 - 2.2bn profit 2nd half 3.3bn - total 5.5bn
f.
Join Date: Sep 1999
Location: ME
Posts: 5,505
Likes: 0
Received 0 Likes
on
0 Posts
I am grateful as well! Not many places give 9 week bonus'.