Can you give more details on that conservative 5% please? You won't get more than 2.5% in Australia or the UK if it is a bank deposit and personally I would consider the stock market to be way too volatile to be relied on.

In my last job we flew 80% pax and 20% freighters, don't think I ever did a single freighter roster that wasn't changed down route. Trying to plan commuting, without the full support of rostering, would be a very stressful, (possibly heart stopping), exercise, I would think.

Less can be more... for some...
 

Hi folks,
Considering the overall offer this new contract may mean more money saved at the end of the month than when staying in Dubai with the normal contract.
Just as an exercise:
A Captain with ten years of service will make around 14k euros net in the freighter contract, cause the legal residence is still the UAE. If the same Captain is in the normal contract the income would be around 18k euros (based in the same low hours of the freighter option). Then you establish your family residence in countries like Spain, Portugal, Greece or Cyprus (just examples) where you can afford to buy a decent property for a reasonable price and the cost of living is quiet cheap for EU standards. Comparing with the cost of living in Dubai I would say that you'll be talking about at least double the cost of living in one of these countries. So your 14k euros will buy more than what you're now buying in Dubai. Power of buying is far more important than the nominal amount, if you're spending your money where you live. If this pilot has property in Dubai and adds the rental income to the equation it may happen that even the nominal income becomes higher in the freighter contract than in the normal one. With the high cost of rental in Dubai this isn't difficult to achieve.
So what may look pretty bad to some may be a good option to others, mainly if they're already planning to leave the desert and to fly less hours.

parabellum - in a mixed portfolio of investments you would have averaged well over 5%/year over the last decade. The point is twofold - one you have to account for that lost income in your calculations. Even more importantly, when you 'invest' in a home in Dubai you are putting a large sum of money into a single investment which is highly risky. While a good balanced portfolio of various investments greatly reduces any risk.

Desert Peregrin, loosing 4k a month and 30 days leave plus going onto a EOSB as opposed to Provident, no kids schooling if out of Dubai, housing allowance reductions etc etc etc and your spinning it into a positive?? If I live in a labour camp I can save a fortune.......

Nice first post ;)

Damage done
 

The damage has been done long ago, and firmly cemented with this last dump.

Opinion and morale are so low, any unlikely change for the better will raise questions and pure disbelief. Out of touch, deeply disillusioned and tainted to fail.

This new contract suits no one really....it has missed its mark so far wide. A glimpse for the outsiders of the capabilities of these managers.

In response to DP.
I get where you are trying to come from but you will be away from your family for a month potentially . A month . Now I know some people may find that a blessing but surely most won't .

Not to be compared with the pax contract staying in Dubai
 

Maybe I was not well understood.
What I meant was that some pilots will make more money taking this freighter option and LEAVING Dubai, due to their individual circunstances.
Anyone who goes to the freighter flete and decides to stay at the expensive Dubai will make a huge mistake in my opinion.
There's no comparison between this and our normal contract, you have to compare with the commuting jobs available.
Some pilots would leaving anyway, and this option may be an easier way to change your life and stop doing the turns and flying close to 100 hours than starting from zero in another company. Our group is quiet big and you can find many different personal profiles. Surely that will fit well for some, I just don't know if they'll be enough.
And Felixthecat, places like Lisbon or Barcelona are definitely not a labour camp!
In fact living in these places normally is better for westerns than living in Dubai.

No Garantees
 

It has been well demonstrated that nothing is garanteed with this contract. The minute you commit to these T&C you are exposed. They can move the goal posts as soon as it suits them. Common practice. What else can be said? We know how business is done around here. Big life gamble to join these days. Suited for opportunists and desperados.

So how is the freighter contract going? The 28/13 arrangement. Has anyone heard more?

This new change Re hotel accommodation has screwed many. Not sure an apology is enough. Good luck fellas. Hope it works out.

What was the hotel policy change?

That the hotac promised whilst in Dubai (for those that opted out of Company accommodation), will no longer be provided. Promise kept for this month but not after September. Option to leave the freighter fleet if this policy change is not acceptable.

Considering this freighter contract has only literally just got off the ground, how on earth can senior management be taken seriously regarding the integrity of future policies and contracts. Aren't these contracts proof read and signed off from only the most senior level? The mistrust that this change will have on all EK pilots should not be underemphasised. It demonstrates either a serious lack of organisation, or honesty on their part. Or both. And then they wonder why they have a relatively large number of disloyal and demotivated pilots!

To now offer 'exclusive' rates on certain hotels along with food and beverage discounts, doesn't cut it when you promise one thing and take away with only an apology. Truly embarrassing.

Harry

As the devil said in a quite humorous joke.

"Yesterday we were employing. Today you are staff"

J.

Please please please tell me that you're not surprised. I feel sorry for those involved and wish them the best, but surprised? I am not.

See post #90

Any feedback on how this contract is working out?