Originally Posted by
full of luv
I was under the impression that the pilots profit sharing was changed to match what they already offered the other employees so while I agree it funded the COLA's I don't believe the other groups gave up anything, they were already at this percentage post merger.
LUV
I believe it went something like this: Pilots had negotiated 15% profit sharing so company gave rest of employees 15%. Company forsee's making over $2.5 billion while in negotiations with pilots on new contract. 5 percent of profit sharing monetized into pay so company can lower profit sharing to 10% (up to $2.5 billion) for pilots and rest of company employees.
(They had 15% while we did.)
Denny