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-   -   Virtucon (Delta) and Profit Sharing (https://www.airlinepilotforums.com/delta/92735-virtucon-delta-profit-sharing.html)

gzsg 01-13-2016 08:48 AM

Virtucon (Delta) and Profit Sharing
 
Management is extremely proud of their advancements in building a virtual air line.

Spending billions to purchase 49% of their partners instead of buying widebody aircraft for Delta.

I'm sure China Eastern is a real bargain right now and we are scooping up shares.

Reducing.profit sharing has always been a horrible idea, but this is icing on the cake. The only way we are going to benefit from these JVs is through profit sharing. We would all rather Delta perform this flying, but until we have the scope to make that happen:

PROFIT SHARING IS OFF THE TABLE

They can have our profit sharing on the day they fully restore our 60% FAE defined benefit plan or when the sun burns out. Whichever comes first.

BlueRidger328 01-13-2016 09:06 AM

I agree, but we also have to look out that Delta does not "Offshore" it's JV profit from us. More Scope to contain!

Hank Kingsley 01-13-2016 09:06 AM

EB is refilling his Ambien after writing our PS checks.

index 01-13-2016 10:10 AM

Spot on gzsg.

notEnuf 01-13-2016 07:28 PM

So 5 minutes on the internet (of things) and I found...

Etihad owns 24% of Jet
Jet shares are at 755 INR (Indian Rupee)
Jet has 113,597,383 shares outstanding traded on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in Mumbai
1 INR = 0.015 USD

49% of Jet could be acquired for $615M USD plus a premium to complete the transaction. 24% from Etihad and 25% on the open market for an all in price of ~ $750-$800M USD after fees and premiums.

You heard it here first!

Or

It could be nothing. DYODD.

Dat jet 01-13-2016 09:01 PM

Preach it GZSG


BlueRidge....you're right. I hope we have a way to protect us from Delta finding a way to hide the money somewhere else.

I hope guys will wake up and finally see how small our side body fleet is...and how much of our wide body flying is given away. If it were up to Dick and Fast Eddy, we would become a Southwest on steroids. We'll have a robust domestic network and have a few token wide bodies, but most of the wide body flying will be accomplished by VA, China Eastern, etc

Timbo 01-14-2016 05:48 AM

Why buy the Cow (wide body aircraft) when you can get the milk (ticket sales on other airlines) for free?

Richard wants Delta to be the world's largest travel agency.

Dynamohum 01-14-2016 05:53 AM

But hey, at least we have the JV agreements in place. That'll protect us. JV agreements with absolutely no remedy language. Production balance? That makes me feel good. Hmmm, so how does that work? Oh yeah, company is out of balance. What can we do? Grieve it. We already did. And we set precedent to sell jobs for peanuts.

At least we got that going for us.

Big E 757 01-14-2016 06:09 AM

Quote:

Originally Posted by Timbo (Post 2046770)
Why buy the Cow (wide body aircraft) when you can get the milk (ticket sales on other airlines) for free?

Richard wants Delta to be the world's largest travel agency.


When I got hired in 2000, Leo Mullin wanted to recession proof Delta Air Lines. While UAL and AMR were buying 777's, we stopped taking delivery at 8.

I was kind of ok with it if it meant we wouldn't get hit as hard during a down turn but then when it did happen, we were bleeding money almost as fast as Everyone else.

Now, it has been said that we make 75% on every ticket we sell on a code share flight with almost 0% risk. If a catastrophic event causes passengers to stay home tomorrow or next week, we aren't in as much danger as we otherwise would be. That is a good thing in a way. I'd rather be doing the flying, but slightly more important than that, I'd love to have a job to continue earning a living.

I don't know what the right answer is. As a pilot, I want a huge fleet of 777's and A350's. As a stake holder (employee and profit sharing recipient), I'm ok with a huge network without the huge risk.

I know VA was kind of a mess when we bought our stake. Once they deploy their aircraft more effectively, maybe we will buy more heavies.

If I knew our jobs were more secure than our counterparts, I'd be ok with the current situation, but the reality is, if the downturn is significant, we will still be furloughing right alongside the others. Maybe just not as much.

I don't know where i was going with this comment. I guess, since I didn't win the powerball last night, I woke up needing to keep my job. ☹️

I actually didn't want to win $1.5 Billion. I think the headaches wouldn't be worth it. I just need 10-15 Million and I can afford to live comfortably and own a CJ4 to fly to Ft. Myers on weekends.

Anyone have $10 Million they don't need? Timbo? Scambo? I'll give you a ride in my CJ.

notEnuf 01-14-2016 07:25 AM

Jet needs help. Looks like Delta has started a trend.

Etihad in talks to up stake in Jet Airways to 49% - Plane 'n Simple


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