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What is your airline doing?

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What is your airline doing?

Old 3rd Apr 2020, 09:48
  #21 (permalink)  
 
Join Date: Mar 2012
Location: Between 0 and 41000 ft
Age: 31
Posts: 131
Originally Posted by Field In Sight View Post
My own company is using the UK 80% scheme. The majority of employees will be receiving an actual 80% of their previous income whilst furloughed.
Caped to £2500 maximum. That is also a gross figure so it's subject to tax and NI.
plikee is offline  
Old 4th Apr 2020, 07:41
  #22 (permalink)  
 
Join Date: May 2008
Location: AMS
Posts: 20
KLM

Full salaries+benefit payed as per normal, no redundancies.

The deal:
Government pays 90% of a companies payroll to a max of €9500 per person/month.
The company must pay the remaining 10% +the difference if salary > €9500/month and can NOT fire anybody.
Arrangement is for 3 months with another 3 months available should the economic situation dictate.

So normal full salaries for everyone, regardless of income.
Keep in mind that we pay (in the top bracket) 49,5% income tax, so part of it flows back to the state.




oboema is offline  
Old 4th Apr 2020, 20:53
  #23 (permalink)  
 
Join Date: Oct 2009
Location: UK
Posts: 641
Originally Posted by Satoshi Nakamoto View Post
Can't say as I don't own an airline unfortunately
Who would want to own an airline right now?!
giggitygiggity is online now  
Old 4th Apr 2020, 20:56
  #24 (permalink)  
 
Join Date: Nov 2007
Location: malta
Posts: 153
Originally Posted by plikee View Post
So does the people that are not in this industry. So, according to your comment, they get around Ä200k before tax. Don't they have savings, investments etc? Can they not do a life style change for the next months?
Everyone in the Netherlands, employed at a Dutch company gets the same rules, not just pilots.

So anyone earning 9500 euro or more gets 9500 euro, it is that simple.
Don't be greedy.
Feel however you want, it is how it is. The Idea behind this program is to keep the economy going by everybody spending the normal amount of money. Therefore you need roughly the same income.

Personally I have enough to get fired and live like nothing happend for a whole year, but am still mightely glad I get full pay. It either keeps my emergency funds untouched longer or, if I somehow keep my job, it can get used when the paycuts come.

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Old 5th Apr 2020, 08:24
  #25 (permalink)  
 
Join Date: Sep 2007
Location: A little south of the "Black Sheep" brewery
Posts: 393
Originally Posted by VinRouge View Post
I own a big number in my airline and to
say I regret is an understatement!
A Golden Rule that I was told many years ago: Never have you income and your saving/investments in the same basket, keep them totally separate.
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Old 5th Apr 2020, 14:29
  #26 (permalink)  
 
Join Date: Mar 2012
Location: Between 0 and 41000 ft
Age: 31
Posts: 131
Originally Posted by the_stranger View Post
Everyone in the Netherlands, employed at a Dutch company gets the same rules, not just pilots.

So anyone earning 9500 euro or more gets 9500 euro, it is that simple.
Feel however you want, it is how it is. The Idea behind this program is to keep the economy going by everybody spending the normal amount of money. Therefore you need roughly the same income.

Personally I have enough to get fired and live like nothing happend for a whole year, but am still mightely glad I get full pay. It either keeps my emergency funds untouched longer or, if I somehow keep my job, it can get used when the paycuts come.
I think you got my message wrong. Nothing against who earns that amount or more, regardless what they job is. However the taxpayer shouldn't be paying for such high limit. How many people earns that amount there? Isn't that nearly 3 times above minimum wage? How can a government justify to only pay 90% of Mr. De Jong's minimum wage, but at the same time throwing €9500 a month to someone, just to keep they living standards? Sounds like senior management who forces pay cuts across the workforce but keeps theirs the same. Do you think Mr. De Jong will be spending money to boost and keep the economy going? It is just food for thought.
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Old 5th Apr 2020, 17:17
  #27 (permalink)  
 
Join Date: Feb 2006
Location: Naples, FL, USA
Age: 34
Posts: 71
Originally Posted by plikee View Post
I think you got my message wrong. Nothing against who earns that amount or more, regardless what they job is. However the taxpayer shouldn't be paying for such high limit. How many people earns that amount there? Isn't that nearly 3 times above minimum wage? How can a government justify to only pay 90% of Mr. De Jong's minimum wage, but at the same time throwing Ä9500 a month to someone, just to keep they living standards? Sounds like senior management who forces pay cuts across the workforce but keeps theirs the same. Do you think Mr. De Jong will be spending money to boost and keep the economy going? It is just food for thought.
This is only a temporary measure. It's only Invisioned to last a few months.
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Old 5th Apr 2020, 17:43
  #28 (permalink)  
 
Join Date: Nov 2007
Location: malta
Posts: 153
Originally Posted by plikee View Post
I think you got my message wrong. Nothing against who earns that amount or more, regardless what they job is. However the taxpayer shouldn't be paying for such high limit. How many people earns that amount there? Isn't that nearly 3 times above minimum wage? How can a government justify to only pay 90% of Mr. De Jong's minimum wage, but at the same time throwing Ä9500 a month to someone, just to keep they living standards? Sounds like senior management who forces pay cuts across the workforce but keeps theirs the same. Do you think Mr. De Jong will be spending money to boost and keep the economy going? It is just food for thought.
Mr De Jong will still recieve his normal pay, 100% of what he earned. His employer will recieve that 90%, but has to fully pay his employees.

So everyone will keep 100% of his pay..
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Old 27th Apr 2020, 00:12
  #29 (permalink)  
 
Join Date: Oct 2011
Location: Spain
Age: 39
Posts: 4
temporarily laid off until god knows when. Expecting an unemployment salary of 850Ä, compared to my usual income of around 7500Ä. even though I have paid an average of 50K per year in taxes for the past 15 years. No additional money provided by the airline. Can anyone beat that? I hope not many other people have to put up with such a rip off. Good luck to everyone
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Old 27th Apr 2020, 04:05
  #30 (permalink)  
 
Join Date: Aug 2007
Location: england
Posts: 709
I’ve paid an average of 70K/yr in taxes and would receive £460 month Jobseeker’s Allowance. Makes you proud .
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Old 27th Apr 2020, 07:43
  #31 (permalink)  
 
Join Date: Dec 2014
Location: Uk
Posts: 1
Originally Posted by hunterboy View Post
Iíve paid an average of 70K/yr in taxes and would receive £460 month Jobseekerís Allowance. Makes you proud .
Very true.......Iím paying £40k a year tax but Iíll not get much on jobseekers if it comes to that
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Old 27th Apr 2020, 07:47
  #32 (permalink)  
 
Join Date: Jul 2001
Location: chances are, not at home
Posts: 288
The silver lining - we won't be paying all that tax any more - who needs Monaco!

Of course, the governments of the world desperately need our tax dollars to pay for consequences of the shutdown, but they should have thought of that before they pulled the plug out of the economy.
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Old 27th Apr 2020, 07:50
  #33 (permalink)  

Only half a speed-brake
 
Join Date: Apr 2003
Location: Commuting home
Age: 42
Posts: 2,836
Chinese whispers from the overwhelming most if not all of the HNA conglomerate. Guesstimate is 500-600 foreign pilots under that umbrella.

Since 01FEB instruction to go home via Chinese WhatsApp or email from the office assistant, income exactly 0 ever since. No relevant information either. Agency's advice is to follow the instructions from the airline in case you want to come back one day, the lack of any such instruction notwithstanding.

Tax certificate shows 40% deduction from gross to net in 2019.

Requests to the airline for releasing the licence at CAAC (for a possible change of employer within P.R.C at an un-specified opportunity) denied. People who stayed in the country and are ready to join the limited operation are also stood down.

As everyone's currency (SIM / 90 days landings) expires, this means that if coming back it will be zero pay until SIM checked due to failure on the pilots' side. And the main problem with that is during the normal times the (waiting for) SIM period was a throw of dice - randomly one to six months.

T.I.C.

Last edited by FlightDetent; 27th Apr 2020 at 08:02.
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Old 27th Apr 2020, 07:54
  #34 (permalink)  
 
Join Date: Nov 1998
Posts: 252
Making good money is one thing. Having a great financial advisor is another. Could I suggest to all that at times like these it is ever more important to reduce your tax paid. Indeed spend the time reviewing your past and reclaiming ‘missed’ opportunities . HMRC will allow you to reclaim into your past 4 or 5 years etc. From someone who thought I’d always had it sorted........the help of a good advisor has really helped. The last month has been a great opportunity to ‘write to HMRC’ and do some of the things I’ve been putting off. Some of the chaps I’ve flown with are great pilots but are often married to people ‘digging for gold’, making lots of money but living on ‘day off payments’. How can the top 1% be struggling in good times? And now I wonder how they are doing. Wipe the slate clean chaps, if the good times return you’ll be in a better position. GLA.
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Old 27th Apr 2020, 08:18
  #35 (permalink)  
 
Join Date: Jul 2001
Location: chances are, not at home
Posts: 288
married to people Ďdigging for goldí, making lots of money but living on Ďday off paymentsí. How can the top 1% be struggling in good times? And now I wonder how they are doing. Wipe the slate clean chaps,
Damn, my IFA missed that nugget!

Which missed tax opportunities do you refer to specifically? I went from that 60% tax band to zero, just as the tax year switched - can the two tax years be merged to get a refund of the 60% bit and use two years worth of tax allowance? A good thing to do is change your tax code online if you're receiving any furlough/oddjob income, so that it is taxed at just the basic rate.
Joe le Taxi is offline  
Old 27th Apr 2020, 08:44
  #36 (permalink)  
 
Join Date: Nov 1998
Posts: 252
Hi Joe, Where do I start? For me a few quickies........reducing your tax band by making large payments into a pension (up to your max) also using past years allowances, claiming for higher rate tax relief on past years non salary sacrifice contributions, switching to SS pension contributions, claiming back past years dividend withholding taxes, contributing to your spouseís pension (tax relief), digging out former companies pensions which were gathering dust, reducing this years tax by informing HMRC of your reduced earnings, moving pension payments into better performing funds rather than the default choices, opening a pension for your children (25% uplift from HMRC), moving shares into ISA, full ISA contributions, informing HMRC of any past Capital losses to offset any future gains, etc etc. And of course the most important one of all.......needs and wants......stop spending. Oh yeah donít marry a gold digger and definitely donít get divorced. Does she love me because Iíve got four bars on my uniform? 😁
I always viewed financial advisors as being a bit dodgy but a good one will make/save you 10 times what you pay him. If only Iíd swallowed my pride 20 years ago and got one onboard.
Apologies for the thread creep just wanted to put it out there.......be proactive with your money. GLA
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Old 27th Apr 2020, 11:58
  #37 (permalink)  
 
Join Date: Dec 2008
Location: uk
Posts: 792
Or you could spend the time financially educating yourself and save the small fortune you will pay an IFA over your lifetime. 1% of your pot compounded over 30 years is an eye watering amount.
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Old 27th Apr 2020, 13:15
  #38 (permalink)  
 
Join Date: Nov 1998
Posts: 252
He has a Doctorate, I trust him and is an expert in his field. His less than 1% is only on the small amount I have invested with him. However my entire position benefits hugely. I agree education is key, Iíve learnt much from him. Hope the good times return soon.
aileron is offline  
Old 28th Apr 2020, 08:42
  #39 (permalink)  
 
Join Date: Feb 2017
Location: CAVOK BELOW 5000FT ;)
Posts: 16
nothing....
arrowcapitan is offline  
Old 29th Apr 2020, 07:30
  #40 (permalink)  
 
Join Date: Mar 2012
Location: Dark Side of the Moon
Posts: 938
Stood down on 0% pay, government here will pay $2500 per month minus tax for 12 weeks. Can use accrued leave if you have any and then that’s it. Funnily enough it is being reported in the media how well we are being looked after as the airline hasn’t made anyone redundant. I am currently working in a supermarket :-).
Ollie Onion is offline  

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