EK profit(share) 2016
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we will get somewhere in the range of nothing to very little.....
There is no problem with recruitment.... this is the leading factor that will dictate what they throw our way.
The decision to accelerate the fleet restructure. (Edited due to Fatbus comments), large retirements of aircraft.
Quite a few Malaysian pilots heading this way.
With the lowering of the requirements the company now has thousands of applications from turbo prop guys.
There is no more problems....
AAR thinks he is the smartest man on the planet. He gave us nothing in the way of a payrise last year and all his problems have once again been solved, even though we all know its just smoke and mirrors.
You think he is not going to have another go at it this year???
J
There is no problem with recruitment.... this is the leading factor that will dictate what they throw our way.
The decision to accelerate the fleet restructure. (Edited due to Fatbus comments), large retirements of aircraft.
Quite a few Malaysian pilots heading this way.
With the lowering of the requirements the company now has thousands of applications from turbo prop guys.
There is no more problems....
AAR thinks he is the smartest man on the planet. He gave us nothing in the way of a payrise last year and all his problems have once again been solved, even though we all know its just smoke and mirrors.
You think he is not going to have another go at it this year???
J
Last edited by JAYTO; 28th Jan 2016 at 07:14.
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Sudden restructuring ? This fleet retirement plan is not sudden. 4 years ago at standards meeting a slide was presented . The plan you see now is almost no different ie 343 still here and now only 1 345.but all gone by mar /April 2017 including the first 777300 er.
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Profit share is a thing of the past lads imho! I reacon we only got it last year because the runway closure went way better than anyone could have imagined, hence the reason it's been set so high this year, can you imagine with oil prices as low as they are at the moment and short of a invasion of Iran destined to stay low for a few years at least what the target will be next year!
I'm sure we all noticed the half full cabins for October and November!
Profit share this year,,,,, ZIP!
I'm sure we all noticed the half full cabins for October and November!
Profit share this year,,,,, ZIP!
I have no idea if we will get a profit share this year, but I love it when someone says they are a "Thing of the past".
I first read here how they were a "Thing of the past" in 2008, and pretty much every year since, even the one we got 14 weeks in.....
I first read here how they were a "Thing of the past" in 2008, and pretty much every year since, even the one we got 14 weeks in.....
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Don't forget that we "only" need to make the target, then it's an automatic 2 weeks. 25% of the profit exceeding the target is then paid out as profit share on top of the 2 weeks. Of course the company can massage the figures to their liking and in the end of the day, they will pay out as many weeks as they see fit....
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I believe they will make the target. Airlines that don't make massive profits with fuel prices this low, likely never will.
Now will the accounting reflect the true profits?
My guess is 2-4 weeks.
Far rather see a reduction in hours, increase in basic, overtime rates and hourly pay. Who am I kidding.
Now will the accounting reflect the true profits?
My guess is 2-4 weeks.
Far rather see a reduction in hours, increase in basic, overtime rates and hourly pay. Who am I kidding.
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Whatever... I heard from my best friend's maid who heard it from her cousin; we're getting 14 weeks. I already placed an order for a BMW 745i - silver color in case you're wondering. I'll drive it in the left lane on SZR at the speed limit to piss off the local boys. 
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All sources indicate a ~40% drop in jet fuel prices compared to last year, averaged over the year. From the 2014-15 annual report the fuel bill was 28,7 billion AED, that (should) equate into a 14,35 billion saving on fuel alone.
If one looks at the fuel price for the first six months of the financial year the price drop was approx 33%, with the second half to date shows approx 47% drop, compared to the full 2014-15 year.
So, if the half year result was barely on track, the second half should show a substantial improvement, at least if all other factors stay the same....
If there is not a record profit with record profit share, there is something seriously wrong...
If one looks at the fuel price for the first six months of the financial year the price drop was approx 33%, with the second half to date shows approx 47% drop, compared to the full 2014-15 year.
So, if the half year result was barely on track, the second half should show a substantial improvement, at least if all other factors stay the same....
If there is not a record profit with record profit share, there is something seriously wrong...
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Agreed. If airlines don't make massive profits now, they never will. I think they will smash the target. Unfortunately, what they actually reveal and post is another story. The gov't needs money in a big way. I think we'll still get a decent pay out of about 4-6 weeks is my guess. That said, we need a pay raise!
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A Pay rise is essential to help cap the attrition rate.
A juicy bonus is always welcome, but with the ever increasing cost of living in Dubai, an increase in salary is a must to bring the package into line with others on offer.
No pay rise = more people leave = less leave/more work = more people leave......etc, etc.
I do hope that we haven't reached the point of no return yet!
With the singing of record first half profits and Fuel prices this low, even with a high target, a profit share of anything less than last year (9 weeks) would be an insult.
A juicy bonus is always welcome, but with the ever increasing cost of living in Dubai, an increase in salary is a must to bring the package into line with others on offer.
No pay rise = more people leave = less leave/more work = more people leave......etc, etc.
I do hope that we haven't reached the point of no return yet!
With the singing of record first half profits and Fuel prices this low, even with a high target, a profit share of anything less than last year (9 weeks) would be an insult.
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NO JOKES HERE....
Slash is right...there are DEC positions available on the A380 right now and in order to attract the very best, they have quietly offered up to 350,000 allowance and starting at a basic of 55,000 per month. There are some other benefits like 60 days leave and free DEWA etc.
I heard one guy negotiated a car as a signing bonus...
He'd be crazy NOT to come.
WHEN or IF you do decide to apply, be sure to TELL THEM WHAT YOU WANT...otherwise you'll just get Meydan and a few shekels per month.
The Outlaw
I heard one guy negotiated a car as a signing bonus...
He'd be crazy NOT to come.
WHEN or IF you do decide to apply, be sure to TELL THEM WHAT YOU WANT...otherwise you'll just get Meydan and a few shekels per month.
The Outlaw
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Hey Outlaw, was just wondering, did 'that guy' negotiate for the Mercedes G63 or the G65? Man, if he settled for the twin turbo V8 when he could've gotten the V12, he's just contributing to the race to the bottom. What a sell out...
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in my exit interview they offered me the V12 if I would stay, told them I would stay for the Aston Martin from spector, they said that will go to a 380 DEC from south america, it shows again seniority doesn't count here, I am so pissed off
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I met with the Mondial financial guy a few weeks ago. He told me Emirates is the only thing Dubai has that is currently making money and that it's being milked for all it's worth to service other debt. Maybe it's a bit of a jump to go from that statement to "no profit sharing" but I'm not expecting very much.
just FWIW
just FWIW
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They won't know what hit them once the dodgy report times, non credited augmenting times, illegal reduced layover times, non credited training duties and fatigue take their toll
Profit Share
There are two sides to the massive drop in oil prices.
One is the reduced costs for the operating airline.
The second is the massive drop in personnel traveling that belong to the oil industry.
halas
One is the reduced costs for the operating airline.
The second is the massive drop in personnel traveling that belong to the oil industry.
halas
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Which could be offset by the majority of the travelling public, which does not belong to the oil industry, that benefit from the low oil price for oil based consumer products and perhaps are able to travel more than before?