Originally Posted by
APC225
2010
Profit Sharing Accrual $224M
UAL Pilot Share 5.9% of W2
CAL Pilot Share 3.9% of W2
[updated with 3rd quarter numbers]
2011 Jan-Sep
Profit Sharing Accrual $242M
UAL Pilot Share TBD% of W2
CAL Pilot Share ZERO
The profit sharing accrual this year already exceeds all of last year. Assuming UCAL earns as much (as a percentage of 3rd quarter) in the 4th quarter this year as it did last year, they will earn $278M in Q4 for another profit share accrual of $55M for a total profit share accrual in 2011 of $297M. This is a 19% increase over last year.
If this 19% increase is applied to the 5.9% of W2 that UAL pilots got last year, then UAL pilots may get over 7% of their W2 this year.
If this 19% increase is applied to the profit sharing that 58% of the CAL pilots voted for in C02, and to what the union was able to achieve in the TPA, CAL pilots will get ZERO.
Happy Valentine's Day.
As of today, the company says that $242 million has been set aside for profit sharing for 2011. Profit sharing is 15% of the profit. Doing a little math, as of Q3 UAL-CAL has $1.613 BILLION in profit. Analysts appear to be correct that United Continental is projected to earn between $1.2 and $1.5 billion this year at minimum (assuming a potential Q4 loss for a traditionally weaker quarter?).
But don't mind me, I'm just a CAL pilot who obviously costs the company money and doesn't deserve to share with the employees who make the company the money.
