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No profit share target.....yet.

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No profit share target.....yet.

Old 26th Feb 2018, 05:37
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No profit share target.....yet.

I seem to remember a verbal commitment to set a ps target for later in the year. Anyone know if this has happened yet, or has it been overlooked along with my pay rise!
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Old 26th Feb 2018, 06:24
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Pay review is in May. Profit share is a joke
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Old 26th Feb 2018, 06:48
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Talking of profit Share!

KLM splits record earnings with staff; 30,000 to share ?170m - DutchNews.nl
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Old 26th Feb 2018, 08:22
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Originally Posted by Turbokite View Post
But then again, this is a REAL airline...
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Old 26th Feb 2018, 08:58
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Originally Posted by Nedul View Post
I seem to remember a verbal commitment to set a ps target for later in the year. Anyone know if this has happened yet, or has it been overlooked along with my pay rise!
IF it’s EK you are referencing- the financial year ends 31/3/18.

The target is set for following year after results of preceding year are announced which is usually the third Thursday of April in HQ atrium. The Atrium email schedule is usually a precursor to a profit share announcement. Otherwise results that have not achieved the target are usually issued via Corp Comms on the third Tuesday of April - with no profit share.

There was no target this year.

In the last three years the pay review was emailed on these dates:

2016 - 2/6/16
2015 - 25/5/15
2014 - 16/6/14

Verbal commitment? Go on.
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Old 26th Feb 2018, 11:12
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Since there was no target, yet there is (likely) a massive profit.... What does that mean? Nothing?
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Old 26th Feb 2018, 11:18
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Nedul is right, in the annual report covering letter dated 11/05/17, he states that they have decided “not to set a profit share target for 2017-2018 just yet, given the current ambiguity and complexity in our markets worldwide. We will review this later in the year”
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Old 26th Feb 2018, 11:20
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Well I hope its better than BA
£1.77B profit.
Staff get a bonus of 1.4% of basic pay.
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Old 26th Feb 2018, 11:26
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Fatbus Profit share is a joke....

Just like this airline and operation.
We better get a pretty hefty pay raise (12-15%) and 4-6 weeks profit share. If anything less even the pilots that like Emirates will start to realize they are nothing but being used and abused by an airline that doesn’t appreciate its pilots.
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Old 26th Feb 2018, 12:40
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Just to add to the mix, Delta just shared $1 billion with its employees. Works out to be an average of around 13% of total salary. Something wrong here with this airline not making massive profits.

http://news.delta.com/tags/profit-sharing
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Old 26th Feb 2018, 12:41
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Originally Posted by Oldaircrew View Post
Nedul is right, in the annual report covering letter dated 11/05/17, he states that they have decided “not to set a profit share target for 2017-2018 just yet, given the current ambiguity and complexity in our markets worldwide. We will review this later in the year”
Thanks Oldair
That's what I was alluding to.
Is it an oversight or a statement of intent.....?
I think I know the answer to that one.
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Old 26th Feb 2018, 13:30
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In a twisted way it's probably the one time the region/company's supreme pride, arrogance, and pathetic fear of losing face work in your favour...they can't have those unionized US and Euro carriers crowing about giving out big bonuses when they don't, can they!

It makes one wonder: if companies based in places with things like labour laws and legal due process can make a fortune in profit, how can you possibly not make money somewhere you have a cheap, compliant and easily exploitable workforce?
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Old 26th Feb 2018, 15:15
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Originally Posted by nolimitholdem View Post
In a twisted way it's probably the one time the region/company's supreme pride, arrogance, and pathetic fear of losing face work in your favour...they can't have those unionized US and Euro carriers crowing about giving out big bonuses when they don't, can they!

It makes one wonder: if companies based in places with things like labour laws and legal due process can make a fortune in profit, how can you possibly not make money somewhere you have a cheap, compliant and easily exploitable workforce?
And that is probably one of the most accurate statements ever on the Prune.
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Old 26th Feb 2018, 15:54
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The bigger joke is that if profit share is not paid due not reachung the target, somehow the bonuses to management can still be paid. To me they should go hand in hand. If the airline didn't make profit there shouldn't be any bonus!

Let's not start on the varying calculations used to give different employee groups different amounts. (Some get on entire salary while others only on basic)

A true "profit share" should be X amount of profit divided by Y amount of employees giving an equal pay out to all.
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Old 26th Feb 2018, 23:44
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It makes one wonder: if companies based in places with things like labour laws and legal due process can make a fortune in profit, how can you possibly not make money somewhere you have a cheap, compliant and easily exploitable workforce?
Maybe because they operate a different fleet?? (bracing .....)
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Old 27th Feb 2018, 03:11
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Originally Posted by TangoUniform View Post
Just to add to the mix, Delta just shared $1 billion with its employees. Works out to be an average of around 13% of total salary. Something wrong here with this airline not making massive profits.
Not all of the U.S. airlines are sharing the big bonus bucks but the Deltoids are sure leading the pack this time around :

For Delta pilots, the best paid line employees at any airline, this results in quite a sizable payout. According to union figures, based on 2017 earnings and profit-sharing numbers, Delta captains will receive a whopping $29,000 to $59,000, depending on tenure. In comparison, a United captain will receive between $9,300 to $20,500 in profit-sharing bonuses, while American Airlines captains will receive a measly $3,600 to $7,500.

A union representative at American is, unsurprisingly, not happy that the other guys are getting all the money. “The profit sharing pool at Delta is an Olympics-size pool,” he said. “American’s is a kiddie-size pool.” (Not that pilots are exactly starving, in general. Their salaries have risen significantly in recent years, at least for those with more seniority.)
https://thepointsguy.com/2018/02/ame...all-the-money/
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Old 27th Feb 2018, 08:26
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Originally Posted by TangoUniform View Post
Just to add to the mix, Delta just shared $1 billion with its employees. Works out to be an average of around 13% of total salary. Something wrong here with this airline not making massive profits.

Profit Sharing | Delta News Hub
15.1%... ...but who's counting?
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Old 27th Feb 2018, 18:24
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Bahahahaha. I think we will see flying taxis before we get a profit share. I don't have high hopes anymore.
Maybe EK will prove me wrong this year. Even better. Maybe we get another "Free" ticket for Happiness Day!
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Old 1st Mar 2018, 15:21
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The company has to give us a Profit Share and a pay raise just to attract new joiners and the dreaded DECs. If not who in their right mind would join this outfit? 1000 hour Turbo Prop pilots? Oh wait we have already done that.
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Old 1st Mar 2018, 16:53
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