Profit sharing to be 58.7 million

[gaucho99]

Jan. 30, 2007


Today, US Airways released earnings results for the fourth quarter and full year of 2006. And, since the airline made a profit in the fourth quarter and for the year, the employee profit sharing pool has grown to a whopping $58.7 million, to be divvied up among eligible employees and paid out in March.



For a snapshot of the company’s quarter, check out the attached Earnings Illustrated.

Also to come this morning, look for a USNews Now detailing the profit sharing program.



State of the Airline: 11:30 a.m. MT in the CHQ Annex Rooms
All employees are invited to join Doug Parker and other company leaders for this quarter’s State of the Airline, being held at CHQ in Tempe. At 11:30 a.m., employees will gather for a presentation and question and answer session with Doug.



Can’t make it? The meeting, including the Q&A session, will be available by audio-only webcast (that means there’s sound, but no video). To log-on – either live or by replay for a month following the event – follow these simple instructions (start the process about 15 minutes prior to the meeting’s start time).

1. Be sure your sound is on and your speakers are turned up.

2. Test the sound with a downloaded song, video, etc.

3. Download Windows Media Player if necessary (it’s free and easy).

4. Go to thehub.usairways.com or www.awacompass.com for a link.

5. Click on the link

6. You’ll be asked to register, so take a minute to type in minimal information

7. Sit back and listen – and ask questions if any come to mind.

Having problems? Dial in to the listen only conference call. Please keep in mind that there are a limited number of ports available, so please use this number only if you have difficulty connecting to the webcast. 1-877-322-9648, participant code 469333.

 

[wench1]

F/A Group gets 14%
CWA gets 13%..

6.2 mil divided by 8000 CWA emps..
And the grand total is?
Get your calculators out and start counting......

 

[robbedagain]

will piedmont employees be included

 

[delldude]

Article

The amount received by each worker will depend on a number of factors, including pay grade, union membership, date of hire, whether employees were on leave or furlough and whether they retired in 2006.

 

[Twicebaked]

will piedmont employees be included

this is for mainline employees only.

It was what was negotiated in our contacts due to the EXTREME pay cuts that we had taken.

That is why I don't beleive the WEST should be part of this. It should be figured out what the EAST profit is and leave the WEST profit alone. That way, nobody can say we helped in that profit.....Only on West metal you did.

I understand that the WEST hasn't had a raise in some time, BUT we took deep cuts and this was our negotiated return NOT the West. Again, the WEST always benefits from the tactics of the EAST.

 

[PhxMama]

Whatever amount your workgroup receives at least you dont have to share with Delta! I wonder what Delta employees are buying with their bonus?!

 

[robbedagain]

this is for mainline employees only.

It was what was negotiated in our contacts due to the EXTREME pay cuts that we had taken.

That is why I don't beleive the WEST should be part of this. It should be figured out what the EAST profit is and leave the WEST profit alone. That way, nobody can say we helped in that profit.....Only on West metal you did.

I understand that the WEST hasn't had a raise in some time, BUT we took deep cuts and this was our negotiated return NOT the West. Again, the WEST always benefits from the tactics of the EAST.

thanks too bad those of us who worked mainline then got outsourced thanks to the company n union during the 2 ch11 :down:

 

[barbeetantrums]

That is why I don't beleive the WEST should be part of this. It should be figured out what the EAST profit is and leave the WEST profit alone. That way, nobody can say we helped in that profit.....Only on West metal you did.

I understand that the WEST hasn't had a raise in some time, BUT we took deep cuts and this was our negotiated return NOT the West. Again, the WEST always benefits from the tactics of the EAST.

Don't blame West employees for getting in profit sharing. That was a decision made by union leadership out east. Don't be a hater.

BTW, I'll use my profit sharing to buy a new a$$... my old one has a hole in it.

 

[Informed1]

I came up with $775.00 which assuming a 28% marginal tax bracket nets $558.00

if you're in a 15% marginal tax bracket net is $658.75

Hope that helps

It is important to not forget that it is based upon your 2006 W-2 earnings. Therefore, if you did not work much, you won't get much. If you worked a lot, you will get a bigger chunk of the 14%. Basically, anyone on reserve is screwed because you don't have the option to work.

 

[bluestarcitx]

this is for mainline employees only.

It was what was negotiated in our contacts due to the EXTREME pay cuts that we had taken.

That is why I don't beleive the WEST should be part of this. It should be figured out what the EAST profit is and leave the WEST profit alone. That way, nobody can say we helped in that profit.....Only on West metal you did.

I understand that the WEST hasn't had a raise in some time, BUT we took deep cuts and this was our negotiated return NOT the West. Again, the WEST always benefits from the tactics of the EAST.

that's not true, parker said months ago that PSA & Piedmont are included in the profit sharing b/c they are wholly owned

 

[wench1]

Barbeetant.
You make me laugh.
and BTW,yes the cut DEPENDS on last years W-2. SO this is NOT an across the board amount..

 

[hula-flyguy]

that's not true, parker said months ago that PSA & Piedmont are included in the profit sharing b/c they are wholly owned

That is correct, and reitterated in todays q & a.

 

[Travelpro72]

So a more senior flight attendant who has the "option" to fly more that a reserve does NOT gets more of a profit? So the blockholder has suffered more or as much as a reserve to receive MORE? This is the union that protects reserves too huh? Lovely. So what is the percent of our W-2 that we go by?

 

[Informed1]

So a more senior flight attendant who has the "option" to fly more that a reserve does NOT gets more of a profit? So the blockholder has suffered more or as much as a reserve to receive MORE? This is the union that protects reserves too huh? Lovely. So what is the percent of our W-2 that we go by?

I'm not sure really, it was never explained in great detail. The e line just said that the f/a group gets 14% of the whole pie. After that, somehow they base your individual share upon your earnings for the year. So yes, you are right, the reserves are screwed at the expense of the blockholders once again. But lets not forget, they all paid their dues and sat reserve for 3-6 months, on a system where they could pass, etc...... :down:

 

[Twicebaked]

Don't blame West employees for getting in profit sharing. That was a decision made by union leadership out east. Don't be a hater.

BTW, I'll use my profit sharing to buy a new a$$... my old one has a hole in it.

ROFLMAO

I am not blaming the West...I just don't feel that it is very fair to the East as it was our negotiated benefit.

At this point, I could really care less.

There are far more burning issues that we need to contend with.

Sorry to hear that you got "screwed"

I will give you my check so that you can get your new a$$...Don't want you walking around with a hole in it....people will stare and say "Look at that a$$h###!

I wouldn't want that for you.