forgot to bid

DC8, thanks for the good summary.

MoonShot

So, does anyone care to explain how the profit sharing works? I read through the PWA but it doesn't really explain how DALPA divides its % of the $. Looking for a ballpark # for a 3 year FO. Also, is a check issued or can you elect some or all of the $ into the retirement account pretax? I'm reading Mar-Apr 2011 for the $?

Hopefully record profits will continue through 2012 negotiations and beyond.

MoonShot

Haven't stayed at the Hilton yet. Sad to see the MM go. Have a PIREP on the stay?

buzzpat

We moved from the Marriott? Another reason to avoid ATL.

flyguy1

I stayed at the new ATL hotel last week. Right across the street from the old hotel. Rooms were every bit as nice along with nice workout room. No complaints.

Pineapple Guy

From PWA Section 3. I.

Basis of award: Individual employee’s annual compensation in the year in which the PTIX (pre-tax income) was earned as a percentage of total annual compensation for that year for all eligible employees.

Type of payment: Cash (meaning it goes in just like a paycheck)

Pensionable: Yes (meaning you get DC contributions on top of the profit sharing on the same basis as you receive for other wages)

alfaromeo

Basically, you take 15% of the company's pre-tax profit (20% of the amount over $2.5 Billion) and put it in a pool. You then take your W-2 earnings and divide it by the total W-2 earnings of the entire work force and you get your share of the pool. For example a person that makes $50,000 that year would get half as much profit sharing as a person that makes $100,000. There is no decision to be made by the MEC it is all a math calculation.

Historically, total pilot earnings are about one third of the pool. If total profit was $1 billion, then the pool would be $150 million. The pilots' share would be estimated to be around $50 million. With 11,000 or so pilots eligible for profit sharing, each pilots share would AVERAGE out to $4,500. Again, an MD-88 first officer would get less than a 747 captain, assuming they both worked a full year.

KC10 FATboy

10 minutes to check in at 6am. We were the only ones in line.

The architecture of the MM blows away the Hilton.

I've had my air conditioning set to 60 degrees, but it's still 75 degrees in the room.

One more block away from the Peachtree Mall.

Pro Fessional

Fuel hedge ineffectiveness refers to the loss or gain attributed to the lack of perfect correlation between the pricing movement of the commodity used to hedge (usually crude) and jet fuel. The price of jet fuel does not move in lockstep with the price of crude. Unfortunately there is no futures market or options market in jet fuel so even if they "guess" right about the price movement of jet fuel the hedge may be "ineffective."

Now that you know what it means are you still ticked off?

Sink r8

Another way to summarize the call...

We:

We are managing our capacity very prudently. We're trying to downplay the mere prospect of any additional capacity, even though we're closely eying the rest of the industry to make sure they don't steal revenue from us that we could be stealing from them. We spent the entire time trying to telegraph what the appropriate level of restraint might be for next year.

They:

The analysts are absolutely obsessed with the horrible notion we want to add any capacity at all. They didn't believe anything we said. 3% capacity restoration is f'n insane. The Deutshe Bank "analyst" (DB owns a chunk of stock) essentially told Anderson what he wanted to hear out of our mouth WRT capacity: we just hate adding any flying. Hate it, hate it, hate it. Aren't going to do it. We want to choke the consumer, by taking capacity down to one weekly route on one city pair, charge a billion per seat, and turn the money over to DB.