Please - what is a VIL?

Lacking context here also regarding "the cliff."

 

voluntary incentive line….. they give you 50 hours of credit to be off the entire month. I will bid it as long as it’s available to us.

 

Have to disagree. A recession MIGHT happen. Delivery delays and PW engine issues ARE happening, and possibly going to get worse. Hearing some NEOs being parked soon.

But more than likely, they see VILs as being part of the solution for both the engine/delivery issues and any possible economic slowdown.

 

Cliff description...

JB sets aside 10% of company profits to be distributed to employees at the end of the fiscal year.

Say that equals $110 million dollars at the end of the year. They then determine each employees share of the profit based on each employees W2 earnings. Higher paid employees get a higher share of the pool, bigger check.

Let's say Bob the pilot made 300k, and based on the income and his proportional share of the pool, he is due a check for 5.5% of his income, or $16,500.

But before they cut Bob his check, they subtract the "cliff", the first 5% of eligible profit sharing payout. Then send Bob his check for .5%, or $1,500. Bob is not happy.

After all the checks are sent out minus the cliff, the company takes $100 million of the original $110 million dollar pool, and puts that $100 million back in the company bank account.

It's accounting trickery of the highest magnitude, and it is finally dead.

It was the single biggest factor in us not getting good checks.

Next step is increasing the pool.
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JetBlue is a peak and trough airline because of a large reliance on the leisure travel market. This is very smart on the Airline’s part and the Union’s part. This allows the company to appropriately Staff the Airline during the trough months, then adjust back to normal staffing during the peak months.

VIL’s are good for everyone, pilots who like to maximize pay will now have that opportunity to pick up open time during the troughs and the peaks. Pilot’s that want time off will now have that option as well, win for all!

Great LOA, keep the momentum going into JCBA!

 

Thank you for the explanations. I'm also getting my head wrapped around VDAs but it all sounds like a pretty sweet deal. Excited about joining the team.

 

VDA is getting to fly trips at 200% pay. There is a list you put yourself on in Flica to let them know that they can call you if they need you. When they have a trip that needs covering (don't have any reserve that's legal to cover it), they pull up that list and start calling folks in seniority order..

 

Yes I agree. The company keeps cost low in the trough periods, which helps with generating profits for the full year, then we actual get a piece of that profit (cliff gone) while being able to increase QOL by having the choice to stay home when the VIL is offered (of course, not everyone will stay home lol). Company looks good, everyone motivated and paid. Win for all.

 

Poor guy it will be decades before he ever gets one. But hey welcome to the team!!

 

Nobody has mentioned the Market Rate Adjustment (SWA language), that’s another WIN on the part of the MEC! For folks unfamiliar with the LOA email, very similar to Alaska deal. Essentially means that on 1 Aug 2024, JetBlue snap up will trigger regardless of whether SWA has a contract in place or not.