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-   -   Does Avantair Participate in Profit-Sharing? (https://www.airlinepilotforums.com/fractional/45527-does-avantair-participate-profit-sharing.html)

BeenThereDoneIt 11-06-2009 09:13 AM

Does Avantair Participate in Profit-Sharing?
 
I know I kind of pick at some of the Kool-Aid drinkers there about it. It's all in fun, of course.....asking them if they have recieved their check yet. When you interview with them they tell you that they participate in profit-sharing. The online blogs say that Avantair participates in profit-sharing as well.

However. the only people at Avantair that REALLY participate in profit-sharing are a select few of the upper management. Anyone can view that information in the public SEC filings.

Avantair DOES NOT have a policy in place for its pilots to participate in any profit-sharing. When I interviewed with them they told me that they DID have profit-sharing......they just forgot to mention to me that the pilot group wasn't included. LOLOLOLOL :)

I'll bet that 99% of Avant guys still think they are a part of the plan. If they would just ask the DO, he'd tell them that they aren't included. The only thing the pilots will get is a retirement plan in which the company pays 25% on the first 3% of the pilot's contribution.

The blogs (including the one on this website) are wrong.

Fellas...(and gals).....inform yourself. Knowledge is Power.

HaZMaT 11-06-2009 11:28 AM

First you have to be profitable to have profit sharing. But thanks to you leaving, I would like to think we are one step closer to that goal.

Shouldn't you be teaching some one how to use an E6B right now? :D

BeenThereDoneIt 11-06-2009 12:55 PM

Ahhhh...HazMat....the 1st Avant pilot too ashamed to admit he has been duped into believing he's a part of the profit-sharing of his company.

Hey Haz....your owner has published that you guys ARE turning a profit. Where have you been? Where is your check? Where's Waldo?

Geronimo4497 11-06-2009 03:53 PM

This message is hidden because BeenThereDoneIt is on your ignore list.

I'm sorry, what? You really can't fix stupid, can you?

To answer your question (from the thread title), we still lost close to $6 million for the entire year of 2009. I really don't want to split that up amongst the employee groups.

HaZMaT 11-07-2009 06:24 AM

Quote:

Originally Posted by BeenThereDoneIt (Post 707561)
I know I kind of pick at some of the Kool-Aid drinkers there about it. It's all in fun, of course.....asking them if they have recieved their check yet. When you interview with them they tell you that they participate in profit-sharing. The online blogs say that Avantair participates in profit-sharing as well.

However. the only people at Avantair that REALLY participate in profit-sharing are a select few of the upper management. Anyone can view that information in the public SEC filings.

Avantair DOES NOT have a policy in place for its pilots to participate in any profit-sharing. When I interviewed with them they told me that they DID have profit-sharing......they just forgot to mention to me that the pilot group wasn't included. LOLOLOLOL :)

I'll bet that 99% of Avant guys still think they are a part of the plan. If they would just ask the DO, he'd tell them that they aren't included. The only thing the pilots will get is a retirement plan in which the company pays 25% on the first 3% of the pilot's contribution.

The blogs (including the one on this website) are wrong.

Fellas...(and gals).....inform yourself. Knowledge is Power.

To bring you up to speed Geronimo, as indicated above, BTDI failed to do his home work before trying to blast his previous employer. He continues to try to educate others, perhaps due in large part because he himself failed to know what he was getting into when he attempted to get his first real job in aviation.

To all those reading, although BTDI's information is frequently inaccurate, he is right about one thing: Educate yourself prior to accepting employment from any operator. BTDI may not have that chip on his shoulder had he researched the company prior to accepting a training class.

BTW, Avantair is hiring.

BeenThereDoneIt 11-07-2009 08:31 AM

LOL.....neither Hazmat or Geronimo will tell you guys whether or not they think the pilots are a part of the profit-sharing plan at Avantair.

They simply don't know! LOLOLOLOL

HaZMaT 11-07-2009 11:32 AM

Quote:

Originally Posted by BeenThereDoneIt (Post 708041)
LOL.....neither Hazmat or Geronimo will tell you guys whether or not they think the pilots are a part of the profit-sharing plan at Avantair.

They simply don't know! LOLOLOLOL

I will state it. SS, the CEO has stated on numerous occasions that the profit sharing will be a company wide. That would include the pilots, the FBO, the OCC, sales, finance, mechanics and even the guy who mows the acres of grass surrounding the PIE hangar. So yes, all 450 employees will share in the profits. The CEO has always held to his word on all other matters during my time here.

The company continues on a trend toward profitability. We took delivery of 3 planes last month and word is a 4th plane will be on property before years end.

The company debt is actively being refinanced to lower rates. Vendor contracts continue to be re-worked to lower expense, sales continues to announce beating stated goals, pilot recruiting is starting back up to keep pace with deliveries, and investors continue to invest into the company. These are all good indicators that profitability is achievable.

I am confident that Avantair is moving in the right direction and I believe that my contributions as well as all those I work with is what is making a difference during this down economy. I see nearly everyone at Avantair working hard toward the same goals.

On a side note, there is nothing worse than sitting next to a guy in a cockpit and at dinner who has nothing positive to say. This is especially true on the more difficult days.

BeenThereDoneIt 11-16-2009 02:36 PM

Hazmat....you didn't answer my question. You said that the CEO said everyone "will be" a part of profit-sharing. The question is....are you NOW a part of it.. Promises are a dime a dozen. The upper management already has profit-sharing for themselves in place.

Your Director of Operations says that there is no current policy in place for you as a pilot to share in the listed profits. Do you even know? LOLOLOL

SkiBum112 11-16-2009 04:17 PM

Why does it matter BTDI? You're gone, if they get it great, if they don't...oh well. No one looks at profit sharing as a guarantee anyway. And please stop LOLOLOLOLOL it's just letters, not you actually laughing maniacly

celloman 11-16-2009 08:15 PM

I broke down and did it.... ahhhhh how nice it is now!

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