IAFDOF

Waste of time, we don't turn a profit.

Descendto450

i would love to see a revenue sharing scheme instead of profit sharing for this very reason. IMHO We will never see profit sharing again and it's not worth the hassle and possible give away to get get it back.

Bluedriver

Revenue sharing would be great, but the rest of that is pretty much hogwash.

When the company returns to profitability, we would get profit sharing, if we had a good profit sharing plan. Period.

You don't see Delta and SWA pilots arguing to give up their profit sharing plans... In fact, Delta pilots made it clear that they will not give up their profit sharing plan, despite it being one of management's top goals.

I was inverted

It’s never a good time to go for PS. In good times it costs the company too much so they won’t give it away…in bad times/ie when there’s no profit, there’s no perceived value to the nearsighted pilot group so they don’t want to deal with trying to get it. Then everyone complains about not having any when delta pilots are out buying Miatas and Porsches with their PS checks. B6 pilots need to play the long game. Profit will come back. Leverage and CBA cycles rarely align to be in a strong position. Now is the time to demand PS, along with industry leading pay rates. Especially given the current industry landscape and hiring environment. And remember, PS costs the company nothing in bad times, not much in marginal times, and only costs them a lot when they are rolling in it…so realistically it shouldn’t take much negotiation capital. Demand it.

Bluedriver

I agree. I can't believe his post, as I'm reading it I thought for sure it would say "you just got punked" at the end, but nope. Dude really thinks that.

Excargodog

A revenue sharing plan WOULD make it more difficult to ‘cook the books’ because even under GAAP, the opportunities to convert profit into something else - something that won’t trigger profit sharing, are legion. Revenue sharing is like sales tax. If you sell something the government gets a cut. So if management sells a ticket, the pilots get a cut. Simple, basic, and hard to finagle out of.

SaintNick

I always laugh when management wants me to setwa or any other cost saving measure. If I had a solid profit sharing check I’d be doing everything to save the company money.

Bluedriver

You should tell the Delta accountants that it's so easy not to pay profit sharing....

During the good years some DL pilots got 50-60k profit sharing checks. It was so valuable that management made it a top priority to scale back the plan, but that ultimately failed when the Delta pilots voted down a TA with a gutted profit sharing plan overwhelmingly.

You can shift money around the books (it's not as easy as you think, with a properly worded profit sharing plan), but only for so long. The shareholders and institutional holders will eventually revolt as the stock performance would suffer greatly with continuously poor reported financial performance.

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BlueJetDork

"Legion". GAAP rules are solid what we would not want is IRC. For instance Trump allowed companies to expense capital expenditures for income tax purposes but GAAP rules required the capital expenditure to be amortized. DALPA is GAAP and so is SWA. Our CBA does not state!

pilotpayne

Wait.

we are in the best pilot market ever and the company must have a joint contract. Why in the world would anyone talk about “wasting” time on PS or giving something back to get it?

We have the ball run with it.