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WOW Airlines

Old 18th Oct 2018, 18:57
  #141 (permalink)  
 
Join Date: Mar 2010
Location: in a dirty cockpit
Posts: 417
Originally Posted by 172_driver View Post


Sure, but you have to put it in perspective to what you get back as well. Medical care, school/nursery for the kids, state pension etc. Those are big costs. I know you are aware of that, but it needs to be remembered sometimes. Even comparing gross salaries between different EU states can be very much like comparing apples and oranges. Just sayin'...
Yes that is true. But sometimes, even with rough figures you can easily assess the deal.
Talking about LCC carriers in EU, Ryanair is going to be (unexpectedly) a good place to stay in some Countries. Considering the first Country signing a local contract (Italy) and compared to WOW Air 7000 Euros gross there's a huge gap.
As far as I got, once the transition will be completed in 2019, the NET Salary for Captains flying 70 hours will be around 8600 Euros. On Top of that and paid by the Company, there is a private pension fund (with good investment interests) and a private medical insurance for pilots and families. As part of the deductions from the Gross there is also the State pension paid 1/3 by the pilot ( with 2/3 paid by the company).

Even without knowing the exact taxation figures, an 8600 NET with those conditions compared to a 7000 GROSS with some benefits (but nobody says you'll be flying in adverse weather most of the times and living your days in Iceland paying 2-3 times the standard european prices for food etc.) offered by WOW Air, it's hard to compete. You can't pay a Captain flying on A320 and A330 mixed fleet 7000 Euros GROSS only. That's the salary for an FO on short-medium haul in other (non major) airlines, even without some benefits, that's out of business.

I'm sorry because it was a very good plan to fly mixed fleet in a young a funny environment but it must comply with minimum acceptable salary standard for our profession.
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Old 18th Oct 2018, 19:31
  #142 (permalink)  
 
Join Date: Oct 2007
Location: Europe
Posts: 152
Originally Posted by Breakthesilence View Post
Yes that is true. But sometimes, even with rough figures you can easily assess the deal.
Talking about LCC carriers in EU, Ryanair is going to be (unexpectedly) a good place to stay in some Countries. Considering the first Country signing a local contract (Italy) and compared to WOW Air 7000 Euros gross there's a huge gap.
As far as I got, once the transition will be completed in 2019, the NET Salary for Captains flying 70 hours will be around 8600 Euros. On Top of that and paid by the Company, there is a private pension fund (with good investment interests) and a private medical insurance for pilots and families. As part of the deductions from the Gross there is also the State pension paid 1/3 by the pilot ( with 2/3 paid by the company).

Even without knowing the exact taxation figures, an 8600 NET with those conditions compared to a 7000 GROSS with some benefits (but nobody says you'll be flying in adverse weather most of the times and living your days in Iceland paying 2-3 times the standard european prices for food etc.) offered by WOW Air, it's hard to compete. You can't pay a Captain flying on A320 and A330 mixed fleet 7000 Euros GROSS only. That's the salary for an FO on short-medium haul in other (non major) airlines, even without some benefits, that's out of business.

I'm sorry because it was a very good plan to fly mixed fleet in a young a funny environment but it must comply with minimum acceptable salary standard for our profession.
Dunno where do you get those numbers but a scale 7 capt in WOW averages 1.1m isk NET pm and another 150k isk private pension.
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Old 18th Oct 2018, 22:46
  #143 (permalink)  
 
Join Date: Nov 2017
Location: Up front
Posts: 12
With due respect the figures being quoted are not current. As a captain on the local contract at scale 7, my NET with flight pay, averages £8k. I’m not on the 330 yet. Yes the cost of living is high. Well the trade off is the country is safe for me and my family. The locals are very pleasant, the education system is first rate. The weather can be inclement, however if you dress up with that in mind it’s not a problem.

The flying is challenging and varied. A set 7/5 Roster allows me to plan for time with the family. It doesn’t suit everyone I know. Having been made redundant a couple of times this gig I find very good. I didn’t want go to Ryan air, Easy, jet 2, of which I had job offers, I got a dear John from Virgin.

rgds
lhs
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Old 11th Nov 2018, 10:34
  #144 (permalink)  
 
Join Date: Nov 2018
Location: Iceland
Posts: 12
Y
Originally Posted by LHS320 View Post
With due respect the figures being quoted are not current. As a captain on the local contract at scale 7, my NET with flight pay, averages £8k. I’m not on the 330 yet. Yes the cost of living is high. Well the trade off is the country is safe for me and my family. The locals are very pleasant, the education system is first rate. The weather can be inclement, however if you dress up with that in mind it’s not a problem.

The flying is challenging and varied. A set 7/5 Roster allows me to plan for time with the family. It doesn’t suit everyone I know. Having been made redundant a couple of times this gig I find very good. I didn’t want go to Ryan air, Easy, jet 2, of which I had job offers, I got a dear John from Virgin.

rgds
lhs
scale 7 with £8k net? You must have been smoking good stuff mate, while reading your Icelandic payslip... With scale 9 and and trainer pay I barely make a 7k euro figure..may be You are nót payed in iSK, which btw lost 15% of its purchasing power in the last 2 years?...or may be you are one of those selling all their days off and considering perdiem in foreign currency as the best part of their wages, ( interesting point of view in this part of the world)...may be you missed the 22% taxation when you transfer it overseas?....education system is first rate? Í guess it all depends on where you are coming from.. you did not want to go to work in your Country for those outfits , bigger and better? .. interesting: á 46% taxation is fór sure a very attractive deal for foreigners.. how could Í miss that?
local are very pleasant sure, but you are always an outsider.. don’t even get me started on Other issues...
so much you have missed or you seem not willing to see in your short time here..
All the best fór the merger...

Last edited by Krugerpark; 11th Nov 2018 at 13:04.
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Old 11th Nov 2018, 15:08
  #145 (permalink)  
 
Join Date: Oct 2007
Location: Europe
Posts: 152
Originally Posted by Krugerpark View Post
Y
scale 7 with £8k net? You must have been smoking good stuff mate, while reading your Icelandic payslip... With scale 9 and and trainer pay I barely make a 7k euro figure..may be You are nót payed in iSK, which btw lost 15% of its purchasing power in the last 2 years?...or may be you are one of those selling all their days off and considering perdiem in foreign currency as the best part of their wages, ( interesting point of view in this part of the world)...may be you missed the 22% taxation when you transfer it overseas?....education system is first rate? Í guess it all depends on where you are coming from.. you did not want to go to work in your Country for those outfits , bigger and better? .. interesting: á 46% taxation is fór sure a very attractive deal for foreigners.. how could Í miss that?
local are very pleasant sure, but you are always an outsider.. don’t even get me started on Other issues...
so much you have missed or you seem not willing to see in your short time here..
All the best fór the merger...
Bs...

I'm scale 7, not a trainer and with 14 per diems, no off days sold, and no overtime for September, had a NET salary of 1.053.000 ISK. The corresponding supplementary pension was another 169.000 ISK.

Just sayin'
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Old 11th Nov 2018, 15:28
  #146 (permalink)  
 
Join Date: Nov 2018
Location: Iceland
Posts: 12
Originally Posted by booze View Post
Bs...

I'm scale 7, not a trainer and with 14 per diems, no off days sold, and no overtime for September, had a NET salary of 1.053.000 ISK. The corresponding supplementary pension was another 169.000 ISK.

Just sayin'
which is less than 7k euro , just saying...and by the way I9, believe with 14 days per diem you only fly to europe? And probably your pay scale is different than anybody’s else.. level 7 base + shift is Gross 116800isk isk.. may be you don’t know how to read your payslip.. I pity you..Another troll in the office.. my best compliments...
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Old 11th Nov 2018, 16:41
  #147 (permalink)  
 
Join Date: Oct 2007
Location: Europe
Posts: 152
Originally Posted by Krugerpark View Post

which is less than 7k euro , just saying...and by the way I9, believe with 14 days per diem you only fly to europe? And probably your pay scale is different than anybody’s else.. level 7 base + shift is Gross 116800isk isk.. may be you don’t know how to read your payslip.. I pity you..Another troll in the office.. my best compliments...
Check your payslip: there should be a 53.000 ISK additional tax return every month (everyone gets this lump sum in Iceland - gets revised every January) and maybe if you didn't do your spring tax return properly, RSK is deducting a sum every month which goes unnoticed (it did for me, contacted them, submitted a new, corrected return done by an accountant and voilá, got back almost 400.000 ISK the other month). Just before calling someone a troll...

Also just have a look at the attached
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Old 11th Nov 2018, 17:12
  #148 (permalink)  
 
Join Date: Nov 2018
Location: Iceland
Posts: 12
I see you are ready for a position in CP office or as a project manager.. one of those ah???? .... I see also you don’t know difference between gross and net and also you appear to get 14 days of pay duty per month.. interesting roster yours... you talk about pension: are you planning to cash that? Good luck with that , especially after Brexit... tax credit and tax return?.. happy you mentioned it.. tax return for what: per diem should have been taxed and for creativity and interpretation have not... did you know? Are you sure your per diem should be tax free? So you are counting in your monthly payments also what you get back for medical bills from your homeland insurance and your dividend return for that condo you bought 3 years ago in Florida? Why don’t you put in that also the leisure cards for kids or the fact that in Iceland tap water is free?
You must be one of those who voted for a contract renewal that grants you a 8% rise in 3 years versus an inflaction per year of 10% ör one of those who are happy that á newly upgraded fo with 3000 hrs total time and zero PIC should get more that a seasoned wide body TRE just because....
thank you for explaining to me how it works here.. another newbee that knows it all... put yourself in the queue... plenty of those here...
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Old 21st Nov 2018, 10:26
  #149 (permalink)  
 
Join Date: Apr 2016
Location: Split
Posts: 38
A320 FO salary

Can anyone confirm average salary for First Officer 320 on local contract (Net)?

Thank you!
jadrolinija is offline  
Old 21st Nov 2018, 11:13
  #150 (permalink)  
 
Join Date: Jul 2018
Location: Sweden
Posts: 15
Wow DEC pay scales.


Hi Guys,

Sorry if this repetitive but I have a couple of questions with regards joining Wow.

Firstly can anyone confirm that they are still recruiting given the current situation with Icelandair? I was told they may have Type Rating courses starting in Jan 2019 and was wondering if these will still continue?

I am very hopeful to join the company, it would work for me on a lot of different levels. I have read the posts about pay on the local contract but was also wondering if someone could give me an indication of the Net salary on the Parc contract.

I've gotten some conflicting information regarding rosters etc but the way I understand it, there is no 7/5 on the CAE contract? With the local I am obviously liable for my own accommodation? Which lead me to believe that the CAE contract would pay less net as the accommodation is included? I am aware that the currency has taken a hit etc. If anyone is there and could PM I would appreciate if I could pick your brain.

Thanks a lot for any info!!



Oblivion67 is offline  
Old 23rd Nov 2018, 11:44
  #151 (permalink)  
 
Join Date: Oct 2007
Location: Europe
Posts: 152
Originally Posted by Oblivion67 View Post

Hi Guys,

Sorry if this repetitive but I have a couple of questions with regards joining Wow.

Firstly can anyone confirm that they are still recruiting given the current situation with Icelandair? I was told they may have Type Rating courses starting in Jan 2019 and was wondering if these will still continue?

I am very hopeful to join the company, it would work for me on a lot of different levels. I have read the posts about pay on the local contract but was also wondering if someone could give me an indication of the Net salary on the Parc contract.

I've gotten some conflicting information regarding rosters etc but the way I understand it, there is no 7/5 on the CAE contract? With the local I am obviously liable for my own accommodation? Which lead me to believe that the CAE contract would pay less net as the accommodation is included? I am aware that the currency has taken a hit etc. If anyone is there and could PM I would appreciate if I could pick your brain.

Thanks a lot for any info!!



Hi,

Unfortunately i have no clue about the PARC contract, but regarding the rest feel free to PM me.

Cheers,

booze
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Old 23rd Nov 2018, 20:15
  #152 (permalink)  
 
Join Date: Nov 2003
Location: At home
Posts: 26
Firstly can anyone confirm that they are still recruiting given the current situation with Icelandair?
There are two scenarios.....
1. The deal goes through, which I seriously doubt, then up to 10 a/c will be axed from the purple fleet....
2. If not, WOW goes bust!
All contracts currently being advertised are pure fantasy, given the current state of WOW.
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Old 24th Nov 2018, 05:03
  #153 (permalink)  
 
Join Date: Sep 2003
Location: away from home
Age: 58
Posts: 688
From the Icelandic newssite Vikurfrettir:

WOW fækki í flotanum um átta þotur

Agree with Early Right, this would probably represent a “best case” scenario. If either rejected by FI shareholders or by the Competition Authority that will be the end.
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Old 24th Nov 2018, 11:16
  #154 (permalink)  
 
Join Date: Oct 2007
Location: Europe
Posts: 152
I'm really positive about the deal going through. Rumors about political pressure on all parties (Icelandair Group, Wow and the Competition Authority), otherwise the Icelandic economy and kronur will suffer big time. Guess no one wants that.

It's such a pity, really. Lovely place to live and work.
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Old 24th Nov 2018, 11:28
  #155 (permalink)  
 
Join Date: Nov 2018
Location: Iceland
Posts: 12
Originally Posted by Early Right View Post
There are two scenarios.....
1. The deal goes through, which I seriously doubt, then up to 10 a/c will be axed from the purple fleet....
2. If not, WOW goes bust!
All contracts currently being advertised are pure fantasy, given the current state of WOW.
I do agree 100%
Unfortunately someone is still attempting to lure people to join with a “promise “ of unbeatable conditions.. (. But .....Hey... feel free to PM him, by all means...)
If fleet is truely downsizing do you expect they will retain on payroll newly hired pilots on local contract or contractors ?
Wow has a union issued Universal seniority list ( it means captain and first officer are all together, listed in order on DOJ basis, with a few exceptions....no comment) ; hence SHOULD they opt to go with it , things are a bit more articulated then what ones would expect...I am sure you can figure out the picture.

The real question to ask is ? Who benefits from hiring short term with exodus in progress, low seniority low pay scale pilots , on any capacity or contract?
Iceland air migth as well lay-off pilots....

Do yourself a favour: before taking a decision, do your homework and research on real terms and conditions and tax facts... and read the fine printing.

Good luck to all of us.


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Old 24th Nov 2018, 11:29
  #156 (permalink)  
 
Join Date: Jan 2006
Location: austria
Posts: 62
Originally Posted by booze View Post
I'm really positive about the deal going through. Rumors about political pressure on all parties (Icelandair Group, Wow and the Competition Authority), otherwise the Icelandic economy and kronur will suffer big time. Guess no one wants that.

It's such a pity, really. Lovely place to live and work.
...WÄÄÄÄÄÄHHHHH - come on - "Pressure on all parties" - in which world you live ? Its all about money, if there is no profit, the hot potato falls down, fullstop. BTW - how important is it , that people fly for less than the price of the taxi drive to/from the airports over the atlantic? Can you explain this please? Just because we, crews , a minoriy in the population think we are so important?
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Old 24th Nov 2018, 11:48
  #157 (permalink)  
 
Join Date: Oct 2007
Location: Europe
Posts: 152
Originally Posted by austrian71 View Post
...WÄÄÄÄÄÄHHHHH - come on - "Pressure on all parties" - in which world you live ? Its all about money, if there is no profit, the hot potato falls down, fullstop. BTW - how important is it , that people fly for less than the price of the taxi drive to/from the airports over the atlantic? Can you explain this please? Just because we, crews , a minoriy in the population think we are so important?
Not at all. Bankruptcy of WOW would add 1.400 unemployed to the current total of 4.500. Government predicts in this case a GDP fall between 2-3% and up to 13% further depreciation of the kronur.

Remember this is not the EU. They can pretty much intervene as they please and so should they if anything is learned from the crisis back in '08-11.
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Old 26th Nov 2018, 13:42
  #158 (permalink)  
 
Join Date: Nov 2018
Location: Iceland
Posts: 12
Regardless “ the world expert, know it all,spin doctor” optimistic opinions, on geo politics and economics , todays update from the CEO is
“the proposed transaction with Icelandair will take longer time than expected and is still dependent on further Due Diligence. This is not a surprise per se since it´s a very complicated transaction and a number of issues that need to be addressed in a very short period of time.
It is also important to note that we have received interest from other investors as well which we are pursuing in parallel.”

What this means for the pilot population is not given tó know... á deafening silence from office and Union execpt there is á plan B,C, D...

Xmas party is a priority now and CAE Parc aviation is recruiting fo and captains for wow...

but hey... we are not part of eu ( never heard of EEA?) .. and 1400 people are essential to the global economy....

if you are joining ( are you?) and are thinking this gig could be the perfect solution for you in commuting, wages and carreer , think twice about bringing family and local contract..unfortunately many acquaintances whom fell for those promises are now regretting their choices ... bitterly
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Old 26th Nov 2018, 22:56
  #159 (permalink)  
 
Join Date: Sep 2003
Location: away from home
Age: 58
Posts: 688
Originally Posted by Krugerpark View Post
“the proposed transaction with Icelandair will take longer time than expected and is still dependent on further Due Diligence. This is not a surprise per se since it´s a very complicated transaction and a number of issues that need to be addressed in a very short period of time.
It is also important to note that we have received interest from other investors as well which we are pursuing in parallel
So having sold the company to Icelandair with the usual caveats, he claims to be still talking to “other investors” on the side! WTF???
We’ll see if WOW can pay their bills on Dec. 1st. Feel sorry for the lot working there.
oceancrosser is offline  
Old 27th Nov 2018, 09:57
  #160 (permalink)  
 
Join Date: Nov 2018
Location: Iceland
Posts: 12
Originally Posted by oceancrosser View Post


So having sold the company to Icelandair with the usual caveats, he claims to be still talking to “other investors” on the side! WTF???
We’ll see if WOW can pay their bills on Dec. 1st. Feel sorry for the lot working there.

Well said!

in the meantime today’s paper:

The Iceland Stock Exchange temporarily halted trading on shares of Icelandair, by request of the Financial Supervisory Authority (FME), Rùv reports, casting doubt on a WOW Air buyout. As it stands now, whether or not Icelandair Group, the company which owns Icelandair, will be able to fulfill all the conditions of the buyout has been called into question.

According to an FME announcement, trading was halted on Icelandair shares “to protect the equality of investors”. While trading resumed at 12:30 this morning, Icelandair Group issued a statement to the Icelandic Stock Exchange that they consider it unlikely that they will be able to fulfill all the terms and conditions of the WOW Air buyout before this Friday’s investors meeting, when the purchase will be voted on.

Icelandair Group announced the intent to buy out WOW Air Earlier this month but that purchase was still dependent upon approval from Icelandair shareholders and the Icelandic Competition Authority.

The involvement of the Icelandic Competition Authority is critical. Between the two airlines, their combined share of air traffic to and from Iceland is nearly 80% with the buyout giving Icelandair Group control of the vast majority of flights to and from Iceland.

As reported WOW Air has struggled with significant financial losses, even while growing its market share. With the combination of the two airlines, WOW Air may add more destinations to its roster, with the help of Icelandair’s resources.

All that hangs in the balance now, as Icelandair Group works to find a way to fulfill the terms and conditions of the buyout in a timely manner.


WOW air downsizes its fleet by four aircraft



WOW air is downsizing its fleet by two Airbus A320 aircraft and two Airbus A330 aircraft in cooperation with its lessors. This is a part of necessary restructuring of the airline and to ensure maximum utility of its remaining fleet. This restructuring will not impact WOW air´s current plans to fly to India.



For more information, please visit WOW’s website

SF, VP Communications



This information is information that WOW air hf. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16:15 GMT on November 27, 2018.



Last edited by Krugerpark; 27th Nov 2018 at 15:34.
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