CARES Act End Run
05-13-2020, 11:01 AM
#183
Gets Weekends Off
Joined APC: Aug 2016
Posts: 667
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?
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
05-13-2020, 11:23 AM
#185
Banned
Joined APC: Mar 2018
Posts: 1,358
Originally Posted by tonsterboy5
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
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
05-13-2020, 11:34 AM
#186
Gets Weekends Off
Joined APC: Aug 2016
Posts: 667
Originally Posted by Itsajob
Where do the cost of benefits, and having to match FICA taxes enter your example? There is more to employee cost than just hours times the rate.
05-13-2020, 11:39 AM
#187
Gets Weekends Off
Joined APC: Aug 2016
Posts: 667
Originally Posted by tonsterboy5
the average person is getting paid between 30-40% less just by dropping to minimums. But with the remaining people averaging about 60k a year that leaves 20 million in taxes and benefits. After everything they might be braking even in personal cost. Only money going out is pure overhead which they are bringing in. Uncle Sam is pretty much covering the entire operation.
Last edited by tonsterboy5; 05-13-2020 at 11:50 AM.
05-13-2020, 02:57 PM
#188
Gets Weekends Off
Joined APC: Dec 2019
Posts: 1,327
Originally Posted by tonsterboy5
100 million will cover 100%+ of the payroll..... The math just doesn’t add up unless the ceo is getting a huge bonus after paying everyone thanks to uncle sam
05-13-2020, 04:56 PM
#189
Gets Weekends Off
Joined APC: Nov 2016
Posts: 133
Originally Posted by tonsterboy5
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
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
05-14-2020, 06:44 AM
#190
Line Holder
Joined APC: Aug 2019
Posts: 135
I have a hard time believing XJT will burn thru $100M in the next 4 months with the amount of employees we have on min guarantee and 300+ employees out on unpaid COLA. They also received an additional loan for “operating expenses.” I’m now hearing the HEROES Act is now on the house floor that would prevent airlines from mass furloughs and re-organizing.
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