$305 Million 2Q Profit

[BoeingBoy]

I dont get it. We beat predictions by 11 cents and this happens.

<snip>

Down a dollar. Whats up?

Airline shares fall

Jim

 

[Singleflyer]

Pitbull, I think you are the one that is confused.

While I'll be the first to agree that labor gave alot back to the company so that it can be in the position to post a profit. For any group to take more in wages/rule/befifits than the current plan is irresponsible. The profit share is designed to reword employees when everything is working well, and to keep the status quo when it is not working as planned.

Just because the company has a good profit, it does not mean it is awash in cash. Cash does not equal profit.

Also, profit (other than dividends) is not a reward for non-labor. It is out of profit where loans are repaid, new assets purchased. The company needs both to keep moving forward and keep producing profit each quarter, and paying out profit sharing.

36 mil is a pretty good sized chunk to share, even though it is probably less than what was given up by labor.

 

[fr8tmastr]

Well, $120 million came directly from Express - that's not counting the incremental revenue (and profits) that came from the feed they provice to mainline. That's 40% of the profits from something like 12-15% of the capacity.

Maybe we should thank Mesa, Republic, Chataugua, etc for saving us all.....

Does it break it down to WO vs. contract? As we all know a WO's profit is U profit while a contact carrier profit just allows somebody else to profit by U outsourcing. It would be really intersting to know what the bottom line would be if this was all in house.

 

[aquagreen73s]

Of the $315 million net profit, $246 million of it came from the EAST side. Yeah, thanks for saving us, AWA. Shows where the REAL money is made...

Well...argue it come October on behalf of the 2500 UAir pilots still employed.

 

[Freighterguynow]

Of the $315 million net profit, $246 million of it came from the EAST side. Yeah, thanks for saving us, AWA. Shows where the REAL money is made...

I thought we were past this by now .....

 

[ab320driver]

Well...argue it come October on behalf of the 2500 UAir pilots still employed.

And giving you a career expectation you could only dream about...

 

[evprincess]

kudos to everyone for a job well done!
Just a quickie question: those of us who are in the outsourced Fleet Service stations, do we also get in on that profit sharing thing or no? that would begreat if we could

WO employees are included in the profit sharing and since I think you are PDT, then yes!

 

[HPearlyretiree]

Good job everyone! This is a great profit for USAirways.

Everyone be happy for a while, I got in too late, the "Yeah, but" crowd has already rained on the parade.


Its a profit, be happy

 

[Seatacus]

WOOHOO!!!!!And 36M in profit sharing for Us!!!!!!!

So what is the breakdown of this profit sharing? I bet 30 million for the execs and 6 million for the workers.

 

[yvrusfa]

Letter from Doug about profit sharing and our qtr results:

Letter from Doug Parker:
Profit Sharing Plan

Thursday, July 27, 2006

Dear Fellow Employees:

Today marks a remarkable achievement by the new US Airways team. We reported record profits for our second quarter 2006 of $305 million. Excluding special items (like transition expenses, some interest income and unrealized fuel gains), our net profit was $315 million. What’s really great about today’s announcement is that for the first time in a long time, we have also accrued money for our employee profit sharing plan -- $36 million.


Question everyone!

Does anyone recall the formula for calculating profit sharing % per employee?
I was doing a quick search and could not find it. I recall the "About US" reported on it in some detail 6 months or so ago.

For giggles.....let's suppose the final year-end profit was the $36 mil. figure. What would that calculate into , lets say...per F/A in dollar amount?

Thanks.

 

[BoeingBoy]

fr8tmastr: "Does it break it down to WO vs. contract? As we all know a WO's profit is U profit while a contact carrier profit just allows somebody else to profit by U outsourcing. It would be really intersting to know what the bottom line would be if this was all in house."

Afraid not - that's just Express revenue minus Express expense.

yvrusfa: "Does anyone recall the formula for calculating profit sharing % per employee?"

The ALPA agreement (LOA 93) says that the pilots get no less than 36% - don't know about the other work groups, or even how the ALPA portion will end up being split among the pilots.

So the short answer is that I don't know other than it would average about $1000 per employee in your example.

Jim

 

[Doc]

So how much of a raise do we get?


I bet none!

 

[700UW]

It is a formula, I have it as a PDF file for the Mechanic and Related, but it wont copy and paste.

Here is a link to the file

Final Offer

 

[barbeetantrums]

So how much of a raise do we get?
I bet none!

Interestingly, West fleet service under the TWU contract does not allow for any profit sharing, so I know who will get nothing.

 

[aquagreen73s]

And giving you a career expectation you could only dream about...

Like the 10 A330s and 10 767s? Wow...that's about the widebody size of Omni Air International. UAL and NWA and AMR are global airlines. They would have a valid "career expectations" argument. But not a NE regional carrier with a few widebodies. That just doesn't fly measured against the reasonable person standard.

And who do I thank for all concessions from your GAG that are now being imputed to AWA? How does that figure into "career expectations?"