This is true. If you take 8% (half our defined contribution % applied to the whole pool) off the PS cost number you more than account for the 401k stuff. In my example above $1.383 x .92 = $1.272B.

That 8% is negligible IMHO. The last quarter math will have a far greater impact.

 

At least you will have extra space to store all your jellys from "Jelly of the Month Club." 😁

 

Sometimes it our PTSD gets triggered by anything optimistic.

Leo Mullin: “we have entered a new cost paradigm future looks great, we are spending billions in Boston and new pilot contract billions yadda yadda…”

Reality: hired bankruptcy attorneys, bought a colostomy bag load of RJ’s, furloughed, violated contract, went bankrupt

Jim White: “going to be the launch customer for the 787 and grow”

Reality: “somebody call Jim at the Paris Air Show, tell him Northwest’s President is the new boss, and that he doesn’t work for Delta any more. See if RedHat will send their jet over to get the kid.”


Merged, fleet and network “rationalized” three displacements, two reinstatements, plug for years…


Ed Bastian: “we have a new revenue paradigm and going to make money forever, THANK YOU jet”

Reality: global pandemic wipes us out in a matter of weeks, we park 700 jets and government bailout keeps us alive (and a ton of debt)

My career has been five displacements and two advancements. We’ve learned to use the breaks from the shelling to dig foxholes.

 

Just to be clear...
I'm trying to put together some realistic numbers based on management's YTD statements and forecasted guidance. All other variables, like bird flu, are unaccounted for. You are encouraged to poultry farm at your own risk.

(Not quite a chicken pun but more of an analogy)
* feel free to continue the derailment but please refrain from the Miata debate, I can only handle 1 APCism per thread.

 

I don’t need to waste time following world events when the Debbie downers of apc will thrust them in all our faces whether we want it or not.

 

ok fine, what events specifically do you see for the 4th quarter to not go as forecasted? Be specific…. Otherwise youre just regurgitating the “sky is falling” mentality with no real substance. Maybe go to the hanger with that crap….plenty of dudes over there think the sky is falling any second now…..for years

13.69%….

 

I think there may be a relevant detail the been missed in this discussion.

The pilots do not receive the entire PS pool.

I do not know what the actual numbers are, but for the purpose of demonstrating how the formula works, assume a total wage base for all delta employees of $15B, and pilots account for 45% of total wages (or $6.75B). Then we assume a total profit sharing pool of $1.5B, with the pilot’s portion being 45% of the total pool (or $675M).

$675M pilot pool, divided by $6.75B total pilot wages would equate to approximately a 10% profit sharing payment.

 

A blast from the past

 

that's not the way it works

might be why that "relevant detail" was "missed"

 

While section 3.I doesn’t say exactly what was outlined above, mathematically it’s exactly what happens.

Each pilot gets their prorated share of the pool based on their individual earnings percentage of total compensation.