3rd Qtr Earnings
10-18-2023 | 06:31 AM
#12
Gets Weekends Off
Joined: Mar 2018
Posts: 3,633
Likes: 209
Was it? The overall pilot pool of money is based on company profit, regardless of pilot pay, except for the new DL formula mods. Retro factors by tweaking all of our individual 2023 earnings by 14%. I’ve failed to remember any useful math from decades ago but this makes me think it’s just a wash.
someone still smart please chime in
someone still smart please chime in
10-18-2023 | 07:07 AM
#13
Line Holder
Joined: Sep 2013
Posts: 1,069
Likes: 25
That will be an easy enough calculation once the full year numbers are in. My current guess is that the 6.7% margin (the old calculation) is likely to be about 800 million more profit that would have been contributed at 10% vs now being contributed at 20%, a difference of about 80M in the profit sharing pool for our calculation purposes. That will be a good amount of additional money.
When we originally agreed to 6.7%, the costs were so much lower the 6.7% was basically equivalent to the 2.5B$ of profit that Delta had, unfortunately we didn't have the foresight to see that as both cost and revenue went up our 6.7% would be a higher and higher threshold while Delta's would remain at 2.5B. That was an expensive math lesson that we finally corrected!
10-18-2023 | 07:38 AM
#14
Gets Weekends Off
Joined: Dec 2018
Posts: 221
Likes: 0
That will be an easy enough calculation once the full year numbers are in. My current guess is that the 6.7% margin (the old calculation) is likely to be about 800 million more profit that would have been contributed at 10% vs now being contributed at 20%, a difference of about 80M in the profit sharing pool for our calculation purposes. That will be a good amount of additional money.
When we originally agreed to 6.7%, the costs were so much lower the 6.7% was basically equivalent to the 2.5B$ of profit that Delta had, unfortunately we didn't have the foresight to see that as both cost and revenue went up our 6.7% would be a higher and higher threshold while Delta's would remain at 2.5B. That was an expensive math lesson that we finally corrected!
When we originally agreed to 6.7%, the costs were so much lower the 6.7% was basically equivalent to the 2.5B$ of profit that Delta had, unfortunately we didn't have the foresight to see that as both cost and revenue went up our 6.7% would be a higher and higher threshold while Delta's would remain at 2.5B. That was an expensive math lesson that we finally corrected!
10-18-2023 | 05:01 PM
#15
On Reserve
Joined: May 2013
Posts: 15
Likes: 1
I’m still pretty new here with UAL and especially when it comes to profit sharing. Previous airlines didn’t have that. Are we getting a ps check or do we have to wait for 4th quarter results?
‘Thanks in advance for any information to help clarify it for me.
‘Thanks in advance for any information to help clarify it for me.
10-18-2023 | 05:05 PM
#16
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Joined: Sep 2010
Posts: 105
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From: B-737
We get PS for full year results. We should see PS checks in February 24'.
10-18-2023 | 05:06 PM
#17
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Joined: Mar 2018
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If you have been here for 1 year as of Dec 31st, you will get it paid out in Feb.
10-18-2023 | 10:46 PM
#19
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Joined: Apr 2018
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10-18-2023 | 11:14 PM
#20
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Joined: Sep 2016
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I wish we got that changed outright (even though it doesn’t affect me), never been a fan of eating the young and it’s unfair that someone who starts the first week of Jan gets nothing but someone that starts the last week of December gets the full thing.
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