EK profit(share) 2016
 

So, 2.5 months of the financial year to go, TC is starting to downplay: http://m.arabianbusiness.com/us-dollar-eroding-emirates-profits-says-airline-chief-618543.html

Yeah, they can't use the excuse of " oil is at $120 dollars a barrel" anymore, so this is the next best excuse!!! WTF?????:uhoh::ugh:

Setting unreal targets is a sure way to keep the purse strings tightened and all profit to remain in house.

Remember, record profits never paid record profit shares, expect nothing and you won't be disappointed. It's the new norm sadly.

J

As he mentions, it's a 'double edged sword'. However, a strong dollar is not all bad. Fuel and wages normally make up the two highest costs for any airline. Fuel is now cheap, very cheap, down to around $40 a barrel compared to $110 a while back. Whilst all staff in Dubai are paid in local currency, outstations are not. Paying UK staff has now become cheaper as the dollar buys more pounds. Same for practically all other outstations around the network as is the same for costs incurred such as local advertising, fuel, lounges, landing charges, chauffeur drive, etc, etc. That must all add up to offsetting some of the lost currency revenue on tickets. And there's no ERP either. Another saving, especially with pilots and senior managers entitled to it.

Personally, I couldn't give a fudge about PS this year. What we need is a decent pay rise AND the increment. That's what makes the difference over time, not a one off payment so we don't miss the pay rise.....which we haven't had for 3 of the last 4 years by the way! Oh, and don't forget the leave! 42 days please. It's contractual.......

Harry

According to a well known manager at a recent new captains meeting 42 days is NOT contractual. He said we are only entitled to 30 days/year per UAE law but EK has the option to award us up to 42 days. That was a surprise to me.

Laker, then they had better change all their recruiting adverts. 42 days....simple as that. Not eligible, not usually, just plain 42 days. But that's not a contract, I know. Pay raise? Sure. 42 days? LOL. "Back to the oars, minions".

Whoa, EK pilots are contracted to 42 days leave a year, that's what they should be getting! 30 is the minimum according to the labour law, however they are contracted to more!

EK have lots of roadshows planned.
Are they "spewing drivel" at these roadshows ?? it's utter BS if they sell the idea of 42 days leave and Profit share etc.....

I hope future recruits are reading these forums. Go to EK expecting to be shafted.

I do know that regional pilots are most of the new recruits. Most of them are flying 80 hours + anyway.

Using the same argument, we should only be entitled to 1500AED a month salary as that's the minimum required to pay maids from certain countries under UAE law.

What a load of toss these people talk. "It doesn't matter what your contract says, we're only paying you or giving you the minimum under UAE law"

And as been discussed many times on the forum, EK are a semi government company and hence not subject to UAE Labour Law. Go figure.

Actually, you work for two versions of a company that has Dissociative Identity Disorder, often changing character from month to month.

For example, you may take 10 days holidays in January and find that in the remaining 21 working days you will have 85 hours credit. In other words, your employer has blithely stolen from you and your family any opportunity to use your vacation to recover physically.

Now suppose you found that January's arrangement actually worked for you, so for March you ask for all your duties to be compressed into 21 days, leaving 10 days of freedom for yourself. D.I.D. kicks in and your employer claims they could never countenance such an arrangement, that would be a compressed roster and in their eyes it would be manifestly unsafe.

Unhinged and beyond parody.

It's actually whatever works for the EK narrative at the time, never the other way around.

And if the latest stand is really that 42 days leave is "optional" at the companies discretion, that just proves it.

My forecast: 2 weeks

Main battle is to go back to 80 hours a month, credit for leave and training, and full 42 days of leave. It is not that difficult, isn't it?

Never happen. Why should they? We're still here.

Yes we are here for now. How many pilots are going to resign after the May "announcement"? Hopefully enough to make a difference.

The problem is cerbus, everyone else hopes that everyone else leaves so that they (and a few select others) can reap the rewards. trouble is, no one wants to be the first, and perhaps, the only one to poke their heads over the parapet.
It's why Emirates don't have a union. Yes you may say they're illegal in the UAE, but there's not a lot they could do if you were errr, in Union and decided to act as one. Until that day beatings will continue until morale improves.

3Greens , you are spot on :ok:

That's exactly what is happening in most of the Airlines here , the majority of the pilots hope that enough pilots will resign to push the company to the point that they have to react and improve the terms and conditions or at least stop to degrade them
At the same time they try very hard to discourage any new pilot to join their company.

A few issues here. The first is that while they are very short they have been covering with pilots coming in on days off.

They have reduced the requirements for new hires and they are slowly starting to fill courses.

Anyone who has been here for more than about 4 or 5 years knows (or should know) that nothing will change. This is even more true now that Dubai and the UAE are being severely affected by the price of oil. EK is a cash cow and will be squeezed even harder.

I would hazard a guess and say that if they do make changes (pay or conditions) that they will change back as soon as they feel they are able to.

Soon there will be a VAT - likely 5%.

Parliament is discussing a remittance tax - to tax money being sent out of the country.

The biggest threat is that with oil prices where they are and the expectation that it will be low for several years there is a HUGE risk that they will depeg the dirham/dollar rate. IMO, this is our biggest risk as employees. (google it if you want more info--Saudi in the same boat).

Does anyone know how early one can give their notice and still be eligible for the bonus payout (should there be one). I heard there was a cutoff date. So, if I submitt my resignation at the end of Jan and leave by the end of Apr, will they pay?

Did anyone else hear about the signing bonus for new hires ?