Gary’s farewell gift!

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01-06-2023, 05:16 AM

ElonMusk

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Joined APC: Nov 2022

Posts: 195

Gary’s farewell gift!

https://www.yahoo.com/news/southwest-estimates-december-meltdown-cost-132318017.html

If you were planning on profit sharing, don’t.

01-06-2023, 09:12 AM

DHC8DRV

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Joined APC: Jul 2008

Posts: 99

Correct me if I’m wrong but doesn’t our profit sharing accumulate per quarter. Meaning the amount in the account from the first 3 quarters won’t be taken away because we didn’t turn a profit in the fourth. So while we won’t get any additional profit sharing for the fourth quarter due to the meltdown, we still have some from the first 3 quarters

01-06-2023, 09:17 AM

ElonMusk

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Quote:

Originally Posted by DHC8DRV

It is done per quarter BUT Q1 we actually had a loss, they put money in the pot based on full year expectations. I am not sure how that will play out. Secondly Q4 was going to be the most profitable, thus the largest amount in the pot. That’s now gone thanks to the financial terrorist GK. So we will get a big fat zero or a very small amount, compared to what was looking like a record breaking year…..maybe GK should let us use his new mansion as a crash pad.

01-06-2023, 09:41 AM

ZapBrannigan

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Joined APC: Aug 2007

Position: Boeing 737

Posts: 4,804

Just means we need more guaranteed dollars in retirement in the CBA. Can't count on profit sharing as a part of retirement anymore

01-06-2023, 09:43 AM

Maxxter

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Posts: 81

Holy cow! I was expecting $200 million - ish. This sucks big time.

01-06-2023, 11:07 AM

9thAmendment

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Posts: 43

Looks like they’ll have to stall a couple more years on everyone’s contracts to recoup these losses.

01-06-2023, 11:12 AM

ElonMusk

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Quote:

Originally Posted by 9thAmendment

Looks like they’ll have to stall a couple more years on everyone’s contracts to recoup these losses.

Well my needs just went up after this debacle. Add another 15 percent per year as a “late fee”. Take as long as you want, I’ll get mine in the end.

On a side note, this is why you should fly whatever speed you want and not worry about some stupid CI or planned speed to save fuel, it means NOTHING as Dallas just cost you tens of thousands in PS.