EK Bonus

[fatbus]

I think we have been beaten down . Don't care anymore. Other airlines post massive increase in profit. We will soon find out, but in the mean time just don't care.

[lospilotos]

As I mentioned in another thread, that I can't seem to find at the moment, EK savings on fuel alone compared to 2014-15 should be in the region of 10-12 billion AED.

[V1cutz]

Same song and dance every year around this time. Who really cares anymore?

[Panther 88]

Well VeeOne, I damn well care that they should provide a substantial profit share to the minions, all of us. BUT, I can't get expectations too high knowing how they have tricked the books to deny us our share, in the past.

[EK-or-bust]

Originally Posted by fliion

To put it in historical perspective - Pay raises/bonus since 2000.

I have combined step or lack thereof in the raise number and called it a pay raise for simplicity
I do not have profit share or Edu support allowance numbers from 2000-2007.
2000-2007 numbers were provided by a colleague

05/00
3%
05/01
5%
05/02
6%
05/03
3%
05/04
5%
05/05
11%
05/06
10%
05/07
9%


Pay raise/profit share/Edu/housing since May 2008
05/08
12% 14 wks
05/09
0% 0 wks - GF Crisis
05/10
6% 3wks
05/11 (edu fund 32-40/54-60)
8% 12wks
05/12
3%
05/13 (edu fund 40-42/60-63)
3.5%
05/14 (staff travel erosion)
3% 3wks (edu 42-46/63-70)
housing up to16075pm for CAPTs
05/15
3% 9wks (edu 46-47.5/70-72.5)
OT thresh 88h

2012-13 prof target 3.5bn dhs (achvd 3.1bn) 10/5/13 - Target not achieved - no profit share

13/14 target 4.22bn (1st half 2.2bn) 8/5/14 - 4.1bn achieved - Target not achieved- 3 weeks profit share

2014/15 target 3.7bn (rwy closure)
1st half achieved 2.2bn - 2nd 3.2b for a total of 5.5bn) - 9 weeks profit share

2015/16 target 7.7bn
(1st half 3.7 achieved)

Make of it what you will - but I believe they will save a pay raise of 5% on top of step for all EK group UAE employees for next year to cover VAT.

This years profit should be on target - as to the "very recent positive" package developments email from JAROPS - (repairing ops &#128521

The longer they wait the greater the expectation - which is not a good thing for them and I just think the rot is very deep for there to be any change in sentiment unless it's a blockbuster.

Not holding my breath.

Since we moved to new HQ - the Atrium show has usually taken place on the third Thursday of April at 10am except for 2013 when there was no profit share.

Just a quick correction to Fliions excellent post

13/14 target 4.22bn (1st half 2.2bn) 8/5/14 - 4.1bn achieved - Target not achieved- 3 weeks profit share

The 3 weeks deposited to our bank account was NOT a profit share.
It was the first time in EK history they paid a Bonus to us all.
We can only get a profit share if we meet (2 weeks) or exceed the Target.
These 3 weeks were a gift. Aka Bonus.
Probably to show goodwill. Fat lot of good that did ;-)

[ekwhistleblower]

Or screwed the books by buying an A380 in cash in the week before the announcement!

[fatbus]

Very good point.

[fringhtok]

One interesting little tidbit- I looked back through the profit announcements for the last 10 years (sick on the couch so time to burn). Only two times has the second half profit been larger than the first half. The target this year is 7.7bn and 'only' 3.7bn was achieved in the first half. The second half will have to have been unusually profitable or the target will not be met. Those extra 380s will not have helped that cause. Not long now until all revealed!

[lospilotos]

Originally Posted by fringhtok

One interesting little tidbit- I looked back through the profit announcements for the last 10 years (sick on the couch so time to burn). Only two times has the second half profit been larger than the first half. The target this year is 7.7bn and 'only' 3.7bn was achieved in the first half. The second half will have to have been unusually profitable or the target will not be met. Those extra 380s will not have helped that cause. Not long now until all revealed!

Well, the fact that the Jet1A price was on average 30% lower in the second half compared to the first could help improve that...

[Nedul]

Originally Posted by Divertnow

I did see an interview on the BBC with TC that said ek profits last year are up 40%! Not sure if they meant the last fiscal year just finished or the interview was old. Just caught the tail end. Can anyone shed any light?

http://www.bbc.com/news/36085203

[POTATOW]

Funny how the math works out;

Profit last year - 5.5 billion

If you increase that by 40% as sir Tim says in the press...you get EXACTLY 7.7 billion (the target).

So if that's true we will come in 1 dirham short and get nothing or maybe 2 weeks if we are lucky!

[moneyhoon]

Invitation out .....

[natops]

Originally Posted by moneyhoon

Invitation out .....

I wonder how many guys are going to waste their off day in eghq... Not me.

[TangoUniform]

Was down route and happened to chat with some Delta pilots about their PS. I know I know it's a whole different thing, but their's was close to 1/3 of their earned pay. Probably Delta's bean counters are not as proficient at hiding and diverting profit. Just for info and "grins". And of course their management is trying to rid themselves of that, in the ongoing negotiations for a new contract.

[Nikita81]

Guess he will get his bonus for sure.

Emirates exec turns down Air France-KLM CEO position - Transport - ArabianBusiness.com

[Talparc]

Sorry, but the story smells a lot, wonder what is behind?

Typical troll

[Nikita81]

wonder what is behind?

$2.7 Billion worth of PR.

[Jet II]

Sorry, but the story smells a lot, wonder what is behind?

Doesn't half smell as much as the other story on that page...


Emirates boss 'often travels in economy'

[notapilot15]

It is not easy to run an airline in real world and I doubt EK management has any airline management skills left. Owner brings money and management spends and talk tosh to media.

Also, Can he scale fence?

[lospilotos]

Originally Posted by Jet II

Doesn't half smell as much as the other story on that page...


Emirates boss 'often travels in economy'

"...all of the fares have come down..." Yeah, except staff travel fares...