EK Profit Announcement
 

So, here we are at the end of April, and have not heard a peep about EK's last year's profit / performance.

Isn't the announcement traditionally made before the end of April? Possibly a bit more time is required to cook the books and come up with creative stories for the masses.

Not that I expect to see one fil / cent of profit share - just interested in hearing the excuses.

Any rumours........................?

Expect it at the end of next week. My guess in the 10th...my money is on about 2 weeks. More interested in the increment and pay review though.

Cheers

Usually about 10th May... But very quiet so far... Usually there's also some sort of build-up:eek:

Don't you worry... there will be NO bonus, believe me!

I would guess 4 weeks, not to give less than the noisy neighbor down south and not to lose face.

The rest goes into glue and excess fuel for the dugong.:E

I bet the announcement will come right after SQs announcement.

When do SQ announce?

PS
 

2-4 weeks

+3% increment

+2% gratuity due to performance

+5 Aed on productivity

No increase educ allowance
No increase in housing allowance

Increase from 92 hrs to 95 hrs before overtime.

Dispensation for minimum 7 days-off per month

Delayed A380s

cancellations of A350s

more 777's

Profit target $16.8B

Profit earned $16.8B

How bad could it be ??? tomorrow is just another day :E

just guessing of course.....

My personal view is that it is irrelevant what has been awarded elsewhere. Put Qatar and the one nobody can talk about together and you get one of the EK fleets.
With the new "no cost" ad campaign to pay for.....sorry invest in..Term 3a etc I see a big fat nowt coming our way.
Hello Tomorrow? more like "Gawd is it tommorrow already?":{
Mr Exhausted of this parish.

Not looking good; huge 380 issues, market uncertainties, high fuel prices and huge marketing expenses…. i'm starting to think nada.

Given the 20% reduction in BKK allowances, the 2013 bonus is looking even better.

whittle, chip, erode

...but we never joined for the allowances.

...it's never good to have too much money burning in your pocket in BKK...;)

My guess is 15 minutes of profit share at best... (still hope for 2 weeks and 3% though :sad: )

Don't really see that there has been any delay in any announcement, so lets wait and see. Historically the 'state of the union' speech is made around the 10th May (2011 - 10 May, 2010 - 12 May), so maybe we'll have a better idea in a weeks time.

Can't really see why people are getting hyped over what will be very little at the end of the day.

sitting,

- Last years announcement came earlier than the year before

- The target was announced as a dollar sum as it has been every year bar one. One year in the company's history, it did not announce a target, but gave us a bonus anyway.

- Do you think EK is "Making Up" the price of Fuel or the weak Global economy?

- The profit announcement has a lot more impact than just the bonus. The companies ability to raise finance has much to do with it's profitability. You realize that most of the rest of the industry accuses EK of OVER stating it's profitability?

- How is their objection to subsidies relevant to any of this? I think they are a bit dishonest there- they are subsidized by the fact they can offer tax-free salaries- but that fact increases profit, not reduces it.

For what it's worth, I'm not expecting a bonus. A target was set (One that was to ambitious) and not reached. There was no way we were going to make as much money this year as last as our trading situation was simply not as good.

Surly a financial expert such as yourself could see that.

Sit,

Just going to pick up on a couple of points, as mostly you have replied very sensibly.

BUT-

The Company announced an annual target along with the profit announcement last year, as they have done every year except one. It basically set the same profit target this year as was achieved last year. The actual figure is available on the Employee portal. They may have thought it reality at the time, circumstances have seen to it otherwise.

Erm..this makes no sense. I am saying that you think they underestimate as it effects your profit share, while competitors think they over estimate as it makes those competitor feel better about not making as big profits.

I have no inside knowledge as to the truth but, to be honest, can't see why the Company, and more especially it's Auditors, would be motivated to announce anything but the truth.

What evidence to you have of this?

Sittingdly does have lots of valid points. He may have been posting mainly negative remarks but majority are true facts. Keep everything in perspective..It may be good to some but not enough for many..

What sort of sycophant would you like me to be sir?

EK Profit Announcement
 

"No profit share.
No pay rise
No increment."
92 hours to remain
Quoting 777 CP.

watching this thread with great interest, currently in Europe, contemplating a move to the ME, it will be interesting what the upcoming announcement will be.

Sheikh-It-Easy,
may I ask,
since you have quoted the 777 CP at Emirates,
just exactly where and when was this said....

my understanding is no official announcement has been made at this stage..

Probable announcement will be Thursday, according to HR input at latest wash-up.

EK did not reach the profit target for the last year, according to a Gulfnews article on the Arabian Travel Market last week, so I presume that 0% of profit share is a realistic number to work on.

Quote from Thierry Antinori:"The fuel price last fiscal was very high for Emirates. It was an increase of our fuel bill by $1.6 billion. It directly impacted the bottomline of the company, which means that our profit will be down for the financial year ended March 31 in comparison with the record year 2010-2011," he said.

But no increment and no salary increase during a year when reasonable profit was shown would be contary to the desire to be the "Employer of Choice in the ME".

So lets just wait for a couple of weeks, all will be revealed in time.

cannot discuss profit announcement
 

last February the airline which we cannot discuss announced their profits... :ok: and i think their employees are partying.. :p

it was posted in the website of a local newspaper.. lol

cross fingers there will be "hello good news tomorrow"...

Profits for SQ drops by 70% but still managed to made a profits of $336 millions. Let's see what will EK be.

Or CX... Who were not happy about their 2011 results and still made $710 million USD (down 61% from 2010).

unmentionable airline profit
 

14 million USD..my butcher makes probably more money :)..what should they be partying about?

it means that despite rising fuel costs etc.. they gained profits..

SQ bonus just announced. 5 weeks. So now the EK bonus should also be announced. Say about 0.5 weeks.....:cool:

It's slightly over 5 weeks while the sister airline will be paid around 10 weeks due to a different formula...let's see what EK does.

The CX Group of employees received.... 1 day profit share. No that is not a misprint.

b.

AA
 

SHJ based AA = 3 weeks....

Yes etops. Its about there. But i thought they were projecting better profits. Quite surprising. Did u attend the meeting.
CX--1 DAY.....??!

So it would seem that Sheikh-It-Easy was spot on with his post. :{:{:{

Announced... Zero :{

As expected..
 

Just out...No profit share...
Standby for pay review...

Judging by the tone of the memo I fear that'll it be stand by for pay freeze. Would be very dissapointing though considering still massive profits.

Seconded regarding Increment and Raise...

Profit $629,000,000. Our share 0.

:{ hello zero tomorrow

WHAT IS NEXT???
 

WHAT
WHAT'S NEXT???

-No Bonus
-NEW RULE of 5 days OFF string. why that would be?
-30 days per year leave (i guess contract says 42)
-allowances reduced outstations

WHATS NEXT GUYS....????

CSA and SCOOT are interviewing for those interested...

can we go with only 5 days OFF string??? ....:=

Keep Discovering

Out of interest, was anyone actually expecting a bonus??????:ugh:

You all sound surprised.... why?? There was no way we were ever gonna reach the set target this year, so therefore no bonus! Simple!!!!

Not expecting a pay rise either but I will however be very p1ssed off if there is no increment:mad:

Just out of curiosity, when was the last time they didn't pay a bonus?