Southwest Airlines Employees To Split Record-Setting ProfitSharing Amount In 40th Consecutive Paymen
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robbedagain
Veteran
uhh ohh 700 you know someone gonna say how that is just not good for wn while it would be for dl. Great Job to all the WN folks for the 40th consectutive time and a nice chunk of change i might add!
does this plane go to paris
Senior
"uhh ohh 700 you know someone gonna say how that is just not good for wn while it would be for dl."
I wonder how long before this thread is hijacked by a certain poster and then closed down by the moderators.
I wonder how long before this thread is hijacked by a certain poster and then closed down by the moderators.
Kev3188
Veteran
Nicely done, WN!
WorldTraveler
Corn Field
- Dec 5, 2003
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congratulations to WN and its employees.
The more airlines that report solid profit sharing, the more it makes those who don't provide it in any significant degree out of touch.
The airline industry after years of very difficult deregulation is now profitable and employees should participate in the benefits.
Further, the profitability is not confined to just one sector so there is no excuse why one group of employees should have it and others not.
Again, congrats to WN's employees for a job well done.
The more airlines that report solid profit sharing, the more it makes those who don't provide it in any significant degree out of touch.
The airline industry after years of very difficult deregulation is now profitable and employees should participate in the benefits.
Further, the profitability is not confined to just one sector so there is no excuse why one group of employees should have it and others not.
Again, congrats to WN's employees for a job well done.
Robbed and Kev, Thanks to you both for your congrats. It was great news to all of us at SWA. Hopefully there will be more great news when the 1st Q earnings are announced. I do know that some one out here was bolstering on their PS results as of recent, but I will be silent and accept what we have and move on to more and more in the future...
robbedagain
Veteran
np swamt. do you know what or if there are any projections for the 1st qtr results?
WorldTraveler
Corn Field
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I have never slighted anyone for obtaining profit sharing. I am happy for you.
It is a huge indication of the difference in the industry between those employee groups who have healthy profit sharing and those who do not.
Curious, swamt, why WN took so long to ocme up with their profit sharing announcement. This is April of 2014.
Also, how many FL employees are now being covered by WN profit sharing for the first time.
It is indeed great that they are receiving it but accuracy would be to say how many FL employees are receiving WN profit sharing for the first time, which is a key part of why the number has increased as much as it did over the past year.
Finally, is WN using this information in its union negotiations? First they talk about profit sharing and then seg into retirement and health benefits.
jimntx
Veteran
Just always remember that 17 straight years without a losing quarter added to 40 year straight years of profit sharing has never been duplicated nor will it be in the airline business. I'm not even sure there is an oil company that has awarded employee profit sharing for 40 straight years. Executive profit sharing maybe, but general employee profit sharing? That is incredible!
Congratulations, WN employees!
Congratulations, WN employees!
Robbed, I do not know the numbers or the predicts., However, we are hearing of a very good 1st Q numbers. Some of us are betting on a full year profit hitting and going over the 1 billion mark for the year 2014. Our planes are very full, and a lot of employees (non-reving) are not having very good luck with their travel experiences.
It might even be a record first Q for us Robbed, BUT, I just don't know how bad the winter snow and ice storms killed some of our numbers. If I am not mistaken we (SWA) had the most cancelations, as that is tied to the fact that we fly the most passengers domestically, so pretty sure we will have the largest effect from the storms. Hoping the AT purchase and the LGA and DCA added flights as well as others and of coarse the revamping of all the inefficient flight schedules and routes will prevail over the cancelations. And remember it is the 1st quarter. I was told once that SWA's 1st Q is a break even Q, we fly the other 3 Q's for all profits, although all that may have changed now going forward. Thx for your kind words Robbed...
It might even be a record first Q for us Robbed, BUT, I just don't know how bad the winter snow and ice storms killed some of our numbers. If I am not mistaken we (SWA) had the most cancelations, as that is tied to the fact that we fly the most passengers domestically, so pretty sure we will have the largest effect from the storms. Hoping the AT purchase and the LGA and DCA added flights as well as others and of coarse the revamping of all the inefficient flight schedules and routes will prevail over the cancelations. And remember it is the 1st quarter. I was told once that SWA's 1st Q is a break even Q, we fly the other 3 Q's for all profits, although all that may have changed now going forward. Thx for your kind words Robbed...
This is not new information WT. We SWA employees were informed via SWAlife what our PS was going to be. I do believe SWA is putting this out to the media to help the stock price stay up and continue to grow the ROI for the shareholders, their goal is 15% or better for 2014, the same goal as 2013 but we missed by 2% in 2013. Pretty sure we will hit it if not surpass it for 2014 and 2015 and beyond. Once all this merger, newly added flights, international flights and full 100% synergies are reached and nothing else happens within our industry, I am pretty positive it will happen.
Your question about who or any AT employees receiving PS, pretty sure all of them are receiving PS for 2013. The only employees from either airline that I would not be 100% positive that they are in fact receiving PS would be the part time workers.
Not sure what you mean by SWA using this info in nego's. However, they don't need to, as all employees are responsible for the PS received, and it is for pass work not future work, so they can try to use it all they want. The PS received for the year 2013 was for work performed to get the 2013 results in 2013, and has nothing to do with future compensation that they are nego now.
Hope all the airlines report record numbers for this Q and full year 2014. Good luck to all of us for a profitable 2014 and beyond...
Your question about who or any AT employees receiving PS, pretty sure all of them are receiving PS for 2013. The only employees from either airline that I would not be 100% positive that they are in fact receiving PS would be the part time workers.
Not sure what you mean by SWA using this info in nego's. However, they don't need to, as all employees are responsible for the PS received, and it is for pass work not future work, so they can try to use it all they want. The PS received for the year 2013 was for work performed to get the 2013 results in 2013, and has nothing to do with future compensation that they are nego now.
Hope all the airlines report record numbers for this Q and full year 2014. Good luck to all of us for a profitable 2014 and beyond...
robbedagain
Veteran
Thanks for the explanation swamt. I wish u all the best. N congrats again on a job well done!
WorldTraveler
Corn Field
- Dec 5, 2003
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swamt,
Industry analysts expect LUV to earn more than they did last year for the same quarter but the 1st quarter is relatively weak compared to others -as is typical in the airline industry.
http://finance.yahoo.com/q/ae?s=luv+Analyst+Estimates
There have been more upgrades than downgrades for LUV earnings estimates in recent weeks so there is a general belief that WN is getting the merger behind them and is poised to start benefitting from it.
The press release that listed all of the employee benefits seemed like something that would be presented in labor negotiations.
If the FL people are largely in the program, it explains to a great extent why there has been such a jump in the size of the PS program.
Industry analysts expect LUV to earn more than they did last year for the same quarter but the 1st quarter is relatively weak compared to others -as is typical in the airline industry.
http://finance.yahoo.com/q/ae?s=luv+Analyst+Estimates
There have been more upgrades than downgrades for LUV earnings estimates in recent weeks so there is a general belief that WN is getting the merger behind them and is poised to start benefitting from it.
The press release that listed all of the employee benefits seemed like something that would be presented in labor negotiations.
If the FL people are largely in the program, it explains to a great extent why there has been such a jump in the size of the PS program.
Kev3188
Veteran
Amen!swamt said:
I saw an article (sorry, I'll have to find a link) that also noted a large investment in Wellness plans and some other employee benefits in conjunction with this PS payout. Can you weigh in a little on that?
EDIT: Here's a good link:
http://www.prnewswire.com/news-releases/southwest-airlines-employees-to-split-record-setting-profitsharing-amount-in-40th-consecutive-payment-255172981.html
From the article: "In addition to retirement contributions, Southwest Airlines also invested approximately $580 million in its Employees' benefits during 2013, which included healthcare coverage, wellness programs, and other benefits. In total, that's more than $1 billion dedicated to the wealth and wellbeing of Southwest Employees in 2013 alone, on top of base salaries."
blue collar
Veteran
- Mar 17, 2008
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I don't remember any hoopla about that- maybe they're contributing more towards our benefits? Not sure. The PS is welcomed, obviously.Kev3188 said:
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