Go Back   Airline Pilot Central Forums - Find your next job as a Pilot > > >
 

Welcome to Airline Pilot Forums - Connect and get the inside scoop on Airline Companies

If this is your first visit, be sure to check out the FAQ. Join our community today and start interacting with existing members. Registration is fast, simple and absolutely free.


User Tag List

Reply
 
Thread Tools Search this Thread Display Modes
Old 01-13-2016, 08:48 AM   #1
Gets Weekends Off
Thread Starter
 
Joined APC: Oct 2009
Posts: 2,095
Default 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.
gzsg is offline   Reply With Quote
Old 01-13-2016, 09:06 AM   #2
Line Holder
 
Joined APC: Mar 2009
Position: 73N B
Posts: 91
Default

I agree, but we also have to look out that Delta does not "Offshore" it's JV profit from us. More Scope to contain!
BlueRidger328 is offline   Reply With Quote
Old 01-13-2016, 09:06 AM   #3
Gets Weekends Off
 
Joined APC: May 2015
Posts: 1,510
Default

EB is refilling his Ambien after writing our PS checks.
Hank Kingsley is offline   Reply With Quote
Old 01-13-2016, 10:10 AM   #4
Wind the clock beoch
 
index's Avatar
 
Joined APC: May 2012
Posts: 437
Default

Spot on gzsg.
index is offline   Reply With Quote
Old 01-13-2016, 07:28 PM   #5
Gets Weekends Off
 
Joined APC: Mar 2015
Position: obstreperous contumacious approbatory imprimatur
Posts: 3,159
Default

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.
notEnuf is offline   Reply With Quote
Old 01-13-2016, 09:01 PM   #6
Gets Weekends Off
 
Joined APC: Feb 2014
Posts: 187
Default

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
Dat jet is offline   Reply With Quote
Old 01-14-2016, 05:48 AM   #7
Runs with scissors
 
Timbo's Avatar
 
Joined APC: Dec 2009
Position: Going to hell in a bucket, but enjoying the ride .
Posts: 7,417
Default

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.
Timbo is offline   Reply With Quote
Old 01-14-2016, 05:53 AM   #8
Line Holder
 
Joined APC: Jun 2015
Position: Sitting
Posts: 68
Default

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.
Dynamohum is offline   Reply With Quote
Old 01-14-2016, 06:09 AM   #9
Gets Weekends Off
 
Big E 757's Avatar
 
Joined APC: Nov 2013
Position: A320 Left seat
Posts: 872
Default

Quote:
Originally Posted by Timbo View Post
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.
Big E 757 is offline   Reply With Quote
Old 01-14-2016, 07:25 AM   #10
Gets Weekends Off
 
Joined APC: Mar 2015
Position: obstreperous contumacious approbatory imprimatur
Posts: 3,159
Default

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

Etihad in talks to up stake in Jet Airways to 49% - Plane 'n Simple
notEnuf is offline   Reply With Quote
 
 
 

 
Reply
 



Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Related Topics
Thread Thread Starter Forum Replies Last Post
Any "Latest & Greatest" about Delta? Guard Dude Delta 193519 Today 04:54 AM
New TA pileit Delta 280 11-05-2015 11:14 AM
C48 pro/con letter 80ktsClamp Delta 30 06-17-2015 02:40 PM
Total Compensation Lags Behind Delta [graphs] nwa757 American 37 01-26-2015 09:18 AM
DAL/NW Labor issues Q & A Scoop Mergers and Acquisitions 38 04-16-2008 07:13 AM


All times are GMT -8. The time now is 05:39 AM.


vBulletin® v3.9.3.3, Copyright ©2000-2017, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.1
User Alert System provided by Advanced User Tagging v3.3.0 (Lite) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.
Copyright ©2000 - 2017 Internet Brands, Inc.