Originally Posted by
piloto2
I heard they got a $100M grant to cover 75% of the payroll and $40M in the form of a loan to cover operating expenses. I understand that the 75% doesn't cover the full payroll, but 100% of the employees aren't working either. I'm also curious about the operating expense loan. Since XJT is essentially a staffing company, and United pays for fuel, planes, ground services, etc. what actual operating expenses does the company pay for?
100 million will cover 100%+ of the payroll for the 6 months of the cares act. Hear me out before you attack me saying no it won’t.
First, 100m/3000 employees= 33,333 per employee for 6 months. FOs at year 2 make 42 an hour for 75 hours which is 18,900 per fo. Captains make 88 an hour at year 10 or 39,600 for the 6 month period. There are a total of 1300 pilots at express jet and assuming a 60/40 CA/FO split that would be 780@39600 or $30,888,000 and 520@18900 or $9,828,000 Which bring the total flight deck income to $40,716,000 for the 6 months. Next is the FAs with 1000 FAs at an average seniority of about 13 years. That would put them at an average of $37 an hour. 37x80=2960 2960x6= $17760 or $17,760,000 for 6 months. This brings the total crew salary for 6 months to $58,476,000 that leaves $42m for remaining 700 employees or $60k for 6 months or 120k a year per person. The math just doesn’t add up unless the ceo is getting a huge bonus after paying everyone thanks to uncle sam