Thank you for that. Beer's still on me.

 

So...now you want Lesbian Based Pay??

Fine with me, I've been trapped in a man's body, all my life.

Do I get a raise?

And I want a system wide re-bid, so I can get on what ever is going to SXM these days!

 

DAL PWA Jan 1, 2015:
12 yr. . . CA . . . . FO
777 . $270.25 . $184.59
787 . $258.90 . $176.83
330 . $255.28 . $174.35
7ER . $226.21 . $154.50

Looks like the Delta Pilots were successful in negotiating a 14.5% higher payrate ($20-$50/hr more) for the future "767 sized" aircraft.

Sorry T, I used to be a proponent of LBP but I like the option of more money OR more QOL that the current system provides. LBP would take "more money" off the table and make more QOL the only factor. The current system allows for more choice.

 

Ok, the AE bid closed almost 12 hours ago now. W T F, wherz it at? When's it gonna be, the next AE? (Friday, Friday...)

I just can't wait to see how many spots I moved backwards. I'm actually not kidding, I just hope it's 1 or 2 only. For the last couple weeks, I've had ER-B guys nosing around the cockpit asking if I could walk them into the jet so they could see how roomy it was, etc. Well, ok, it happened twice. But both of them were senior to me and said they planned on bidding my cat. Or doing something to my cat anyways...

 

I have a question for the faithful contract readers. Listening to Ed's guidance today that raises the second quarter outlook. I am wondering if 2.5 billion pre-tax profit is attainable? Obviously, we know that at 2.5 billion it triggers profit sharing increase to 20% up from 10% (contract give away).

I believe earlier this year the company was aiming for a 2 billion profit and we have exceeded expectations on 1st quater and appear to be ready for a record 2nd quater (paying .35 cents less per gallon than last year, Ed's words from today's deutch bank meeting) I seem to remember from years past that flight ops mentioned that each 1 penny increase in fuel adds 40 million to our annual costs.

That been said do you ever see Delta posting a pre-tax profit north of the 2.5 billion number that triggers the 20% for profit sharing? What are some ways they can finagle or massage that number to keep us from doubling up this year year on profit sharing? I assume management wanted that reduction from 15% to 10% knowing that was a huge savings... However left the top rate At 20% because they never intended to allow a 2.5 billion profit. Can they pay cash for these new air craft to chisel the pre-tax. What accounting protections do we have in our language from prohibiting management from getting close to that trigger of 20% and all of the sudden make 200 million disappear with new tugs, trucks or any other capital expenditure.

 

320? Make sure you show them the bid pack.

5 leg days? Going months without crossing the Mississippi to the west? Every trip going to MDW and EWR? 32 hours in fine locales such as FNT, BMI, and CRW? Then the ATL 320 is for you!

 

Vikz09,

Don't know the answer to your question but just wanted to point out that the 20% only applies to the amount of profit over $2.5 billion. The 10% still applies up to $2.5 billion.

Denny

 

I understand the 10% upto 2.5 billion. I guess my general understanding was if we made above 2.5 billion that would trigger the 20% profit sharing on the whole thing. Your probably right! If I understand you correctly, your saying that if we make 2.7 billion we still only receive 10% up to 2.5 billion... Then the balance of 200 million would be paid at 20%?

Either way, I believe we could hit that figure this year when the dust settles.

Thanks Denny!

 

Yes, that is exactly how I think profit sharing on 2.7 billion would be paid.

I'm not an accountant but, in the contract, there are specific guidelines on what the company cannot "write off" so to speak. Profit sharing is based on PTIX. The definition of PTIX from the contract:

“Pre-tax income” (PTIX) means, for any calendar year, the Company’s consolidated pre-tax income calculated in accordance with Generally Accepted Accounting Principles in the United States and as reported in the Company’s public securities filings but excluding: a) all asset write downs related to long term assets, b) gains or losses with respect to employee equity securities, c) gains or losses with respect to extraordinary, one-time or non-recurring events (including without limitation one-time transition or integration costs incurred in connection with the merger of the Company and Northwest Airlines Corporation during the two year period following the merger), and d) expense accrued with respect to the profit sharing plan.

Denny

 

I'm not sure that is right Denny. I beleive once we hit 2.5 billion then they pay 20% of PTIX into the profit sharing plan. If we are under that, then they pay 10% of the PTIX into the plan. I remember someone saying that the profit sharing cost would double if we went over 2.5 billion.

It's also very hard for them to manipulate the numbers to lower the PTIX numbers. I'm not an accounting expert, but paying down debt or buying more assets goes into the equation after the PTIX calculation.