Loss Reported $78 Million

[Crzipilot]

Profit sharing pool increased by 12 million. Profit sharing is figured W/O the special items. So, even with the loss incl. special items. there was money added into the pool.

It currently stands at 48 million in the pool

 

[ringmaruf]

I'd be worried about the latter. $27 million, and they still don't have a single combined labor contract or operating cert or reservation system. It's only going to get uglier once they try to tackle the hard stuff.

Yeah, and the operating cert has now slipped to 2nd half 2007 from 2nd quarter. And Kirby was called on it, and he outright lied and said that they've never once said "2nd quarter" and that the reporter was mistaken. More lies and double-speak from Tempe.

 

[Fly4Free]

Q. What were the "special charges" that resulted in a net loss?

A. $88 million in fuel hedges out of the money (and out of period), $59 million in a non cash tax charge, $5 million for the debt conversion inducement done over the summer and $27 million in transition expenses...totals close to $179 I believe (see earnings illustrated and the press release for more details).

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Q. What about 23 and above pay grade or non union employees?


A. Darren, are you asking about profit sharing? There is an incentive plan for 23 and above if that is what you are asking about...those annual incentive plan programs only pay if the profit sharing pays to all employees first. Make sense?

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Q. Will Mr Parker be announcing any new European cities for next year?

A. He actually did this morning...if we can get gates in PHL we want to fly Athens, Brussels and Zurich next summer. Yahoo! Get your passports ready!

 

[Crzipilot]

didn't catch that, had to get my medical. But yes, I clearly remember April-May 07. but I guess he didn't lie (in mgmt idea) as he may have never said that date. At least not as president, so this would be his first time saying it.

 

[PHL]

Yeah, and the operating cert has now slipped to 2nd half 2007 from 2nd quarter. And Kirby was called on it, and he outright lied and said that they've never once said "2nd quarter" and that the reporter was mistaken. More lies and double-speak from Tempe.

It would be on record for someone to point out if he said 2nd quarter. So, who'll be the first to produce that statement?

 

[Crzipilot]

Doug says we aren't running a good airline. Hmmm...who's fault is that??? Mgmt. maybe. Still hearing, we are bringing equipment for PHL. Well it's been over a year since they've started saying that. No equipment has been available since then????

 

[700UW]

Time for a raise for Doug and his gang of thieves in Tempe.

 

[ringmaruf]

It would be on record for someone to point out if he said 2nd quarter. So, who'll be the first to produce that statement?

How about we just look at...the 2nd quarter earnings press release, for just one example?

The Company's integration efforts remain on track. The following list includes a summary of integration progress the Company has achieved during its second quarter 2006.

Operations
* Continued to achieve near the top rankings in arrivals as measured by the Department of Transportation (DOT); the new US Airways ranks second among its peer airlines for year-to-date arrivals with 78.9 percent of flights arriving within 14 minutes of their scheduled arrival time.
* Improved baggage handling by 50 percent on a year over year basis.
* Consolidated operations at all but four airports where both airlines operated prior to the merger.
* Remained on track to merge its two operating certificates onto one operating certificate during the second quarter 2007.

 

[Fly4Free]

Man they are ripping the CEO over our wages. (I asked this question.)


Q. Why is this turning into attack-the-CEO meeting?

A. It is ok...these guys feel Doug insulted them and we're glad that they at least show up to tell him...he's answering and this is what communication is all about. We can't (and indeed shouldn't) always have a love fest...these guys don't feel valued and the burden is on us (leadership) to change these perceptions with ACTION.

 

[BoeingBoy]

I'm confused, why is there all this talk of no profit sharing for Q3?

Probably because the profit sharing is only paid if there is a profit margin for the full year that's greater than 0.1%, and the full year isn't over yet. So technically, although money has been "set aside" to pay profit sharing, no one will know whether profit sharing will be paid, much less how much, until the annual results have been posted.

All that said, barring something catastrophic profit sharing will be paid. That's because it's based on results excluding special items such as those that resulted in a loss in the 3rd quarter.

Jim

 

[Prince of PAWOBs]

Anybody here know what happens to the profit sharing pool if we don't get it paid out at the end of the year?

I'm going to take a stab at it and say it disappears into some category such as "special items" and suddenly becomes a slush fund for pet projects - meaning: whatever Tempe feels like wasting it on, like advertising and perks.

I really do hope employees get a payment when it's all said and done.

 

[bluestarcitx]

God I'm sick of 700UW

this guy is EDITED BY MODERATOR.

i really hope he's not in an important safety position with US. :blink: :unsure: :down:

 

[TellinItLikeItIs]

God I'm sick of 700UW

this guy is EDITED BY MODERATOR

i really hope he's not in an important safety position with US. :blink: :unsure: :down:

POST EDITED BY MODERATOR

Mod Note: Posting personal information regarding another poster's employment or other status, whether true or not is not permitted--please review TOS!

 

[700UW]

God I'm sick of 700UW

this guy is EDITED BY MODERATOR

i really hope he's not in an important safety position with US. :blink: :unsure: :down:

Dont like it, use the ignore feature.

Now run along.

,

 

[BluePacific]

It must be hard going through life so hard and bitter. You need to step away from the key board. 3 out of 3 quarters the company has shown a profit and all you can do is post doom and gloom. Now I agree that 15% drop in the East enplanements (just in case you don't understand the term, those are the pax who pay the bills) in the first six months has to have the minions in Tempe worried and the year is not on the books yet, but come on, it does look like it might happen yet.

I'm done with you on this topic because you simply do not want to be proven wrong, so let me say this. My hat goes off to all the employees who have given up so much in the last 3 or 4 years to make these numbers possible. The profit being reported was not the result of anything the sand castle has done. It was your hard work and give backs that made this possible. I tip my hat to you.
Fry the Filly 22......