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EK Financial Results Announcement

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EK Financial Results Announcement

Old 5th May 2015, 17:04
  #121 (permalink)  
 
Join Date: Oct 2004
Location: Dubai
Posts: 323
Hate to be a doomsayer but "second most profitable year ever" doesn't bode well for a bumper profit share. Unfortunately despite the ship falling apart around them, I really can't see these people accepting that they have to pay out big time to solve their problems. I think the culture and arrogance is just too ingrained.
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Old 5th May 2015, 17:22
  #122 (permalink)  
 
Join Date: Aug 1999
Location: Backabeyond
Posts: 208
It's like watching a drunk crew trying to bail out a leaking submarine. If you don't close the hatch, it ain't gonna work.
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Old 5th May 2015, 18:01
  #123 (permalink)  
 
Join Date: Apr 2014
Location: Sandpit
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Hmm. Second most profitable year. My bets on 10 or 12 weeks.
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Old 5th May 2015, 18:09
  #124 (permalink)  
 
Join Date: Feb 2004
Location: UAE
Posts: 159
You can't look at it as if it's that simple.
How many employees did EK have when they posted their biggest profit.
I think you may find that the profit needs to be shared amongst a lot more people this time.
Prepare to be disappointed.

J.
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Old 5th May 2015, 18:21
  #125 (permalink)  
 
Join Date: Aug 2003
Location: Sandy beach
Posts: 430
Agreed. 8 weeks. More interested in the pay review.
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Old 5th May 2015, 19:08
  #126 (permalink)  
 
Join Date: Sep 2006
Location: not in Dubai anymore
Age: 90
Posts: 712
8 weeks would be good, pay rise I don't care because its for the long run and there is no future here anyway
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Old 5th May 2015, 19:35
  #127 (permalink)  
 
Join Date: Apr 2003
Location: UAE
Posts: 953
8 weeks would be a total insult with all the extra flying we have been doing compared to the last big payout. Remember the payrise also goes onto your provident fund which will make a difference to how quickly you can get out of here.
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Old 5th May 2015, 19:50
  #128 (permalink)  
 
Join Date: Jun 2001
Location: Boldly going where no split infinitive has gone before..
Posts: 4,303
It's not based on how big the profit is, but how much the profit exceeded the target.

This years target was pretty modest- the drop in the oil-price has been a big free-be to Emirates.
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Old 6th May 2015, 06:34
  #129 (permalink)  
 
Join Date: Jun 2004
Location: Dubai
Posts: 110
From memory the last biggest one was in 2006...anyone remember what it was?
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Old 6th May 2015, 06:46
  #130 (permalink)  
 
Join Date: Jun 2007
Location: i'm in the parking lot
Posts: 240
16 weeks....and EK can't hide this windfall from the fuel savings, other airlines are touting it as a major reason their profitable. If EK doesn't also claim this, then, well, it justifies others' claims that EK never paid a market price for fuel......doesn't it?


I also agree with the post that "It doesn't matter what the amount of profit....its the spread between target." And recall EK was very scared that the single runway would cock-up operations, which it didn't. Target was 3.something......prepared to get paid
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Old 6th May 2015, 08:56
  #131 (permalink)  
 
Join Date: Mar 2015
Location: Not sure any more
Posts: 51
So time to bring up this ol' chestnut again, as general consensus would appear to be that we might get something with regards to a bonus - how is it calculated?

Is it your monthly salary (as found on the portal under HR direct) divided by 4 then multiply number of weeks bonus? Or is the EK "week" five days and not seven?

We go through this every time they dish out the crumbs
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Old 6th May 2015, 08:59
  #132 (permalink)  
 
Join Date: Apr 2001
Location: overthere
Posts: 2,880
Monthly basic multiply by 12. Divide the answer by 52 to get the per week amount.
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Old 6th May 2015, 09:02
  #133 (permalink)  
 
Join Date: Sep 2000
Location: Somewhere
Posts: 28
Kip
Just checked last year's....
Monthly basic off of pay slip
X12
Divide by 52
And voila!!!!!

Square root of s**t all!
Equates to 7 days not 5!
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Old 6th May 2015, 09:15
  #134 (permalink)  
 
Join Date: Jun 2001
Location: Boldly going where no split infinitive has gone before..
Posts: 4,303
rom memory the last biggest one was in 2006...anyone remember what it was?
5.4B DHS, and the second largest was 4.4.

Target for this year was 3.7, so they have clearly exceeded it by around a billion.
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Old 6th May 2015, 09:31
  #135 (permalink)  
 
Join Date: Mar 2015
Location: Not sure any more
Posts: 51
Thanks fellas!
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Old 6th May 2015, 10:00
  #136 (permalink)  
 
Join Date: Jul 2002
Location: just around the corner
Posts: 125
Originally Posted by Wizofoz View Post
5.4B DHS, and the second largest was 4.4.

Target for this year was 3.7, so they have clearly exceeded it by around a billion.
Good Day Gents

Here is my 2 cents worth

2011 FY group profit 5.9, target was 4.25 I think, hence 1.6 billion or so above, payout 12 weeks

2008 FY group profit 5.3, can't remember the target but payout was 14 weeks

If we assume second largest and split it down the centre say 5.6 group profit with a target of 3.7 that is 1.9 billion above the threshold, so I could be blowing wind up my you know where but I would have to think 13 to 14 weeks adjusted for employee group increasing.

However just getting annual leave would be a bonus, either way guys we should get something, completely hypothetical of course.

regards

YR
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Old 6th May 2015, 10:40
  #137 (permalink)  
 
Join Date: Apr 2003
Location: UAE
Posts: 953
Do Fly Dubai have the 3% step every year? I know that isn't part of the pay rise (whatever the company say) but I'm just curious as to whether they got that as well as the increase in flight pay.

For what it is worth, I think EK will give us a "cost neutral" adjustment by eliminating overtime and giving a small rise in flight pay. Then roster everybody to 100 hours a month.

I know the pay rise was late being announced last year but can anybody remember when we are supposed to hear about it?
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Old 6th May 2015, 10:46
  #138 (permalink)  
 
Join Date: Apr 2001
Location: overthere
Posts: 2,880
Pay rise up until last year was announced last Thursday April to early May. Last year it was announced in June, but back paid to May.

Years ago, when new joiners were scarce, the rise was announced in December but not paid until May.

I wish they would get rid of flight pay altogether and just improve the basic.
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Old 6th May 2015, 10:49
  #139 (permalink)  
 
Join Date: Dec 2002
Location: usa
Posts: 1,006
Last years pay review letter was emailed June 16th.

f.
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Old 6th May 2015, 10:56
  #140 (permalink)  
 
Join Date: Mar 2010
Location: Tundra
Posts: 201
Originally Posted by BigGeordie View Post
Do Fly Dubai have the 3% step every year? ...
I understand FlyDubai gave all the employees a 6% pay rise and were told not to tell the pilots because the pilots got... 0! That according to a pilot I spoke to.
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