Jaques pretty much nailed it on the head - Q3 has a much larger revenue base than Q4 or Q1. Air Canada, for example, operated only 80% of its summer capacity during Q4 so with lower revenues and 20% less flights the effects of fuel are felt a lot more. Also, the hurricane season hit its peak in September if I remember correctly and the effects of the damage done were felt through Q4 because the crack spread (I think it's called) between the price of crude oil and jet fuel was at its highest point during October and maybe through November as well.[/quote]I am not into economics in the least way but... shouldn't have high oil prices effected the bottom line during Q3 more than Q4 with the effect the 2005 Hurricane season had on the Gulf Coast and all of the refineries?
Q4 Results
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tonysoprano
- Rank 10
- Posts: 2589
- Joined: Mon Jul 18, 2005 7:01 pm
Ivanhoe.
I follow most of what you're saying. The top money grabbers are always those who are the wheeler dealers - something the unions are not. If ACE sells assets, surely you don't expect the labour groups to see any rewards. I don't have a problem with that actually. When AC hired me I knew the ballpark of what my salary and pension were going to be right to retirement and beyond. That's what I signed up for, nothing more. We can only negotiate our salaries and benefits, not the assets of the company. Yep, there's alot of problems at big red. But don't kid yourself, we're just as happy as the "owners". We just don't advertise it as much.
I follow most of what you're saying. The top money grabbers are always those who are the wheeler dealers - something the unions are not. If ACE sells assets, surely you don't expect the labour groups to see any rewards. I don't have a problem with that actually. When AC hired me I knew the ballpark of what my salary and pension were going to be right to retirement and beyond. That's what I signed up for, nothing more. We can only negotiate our salaries and benefits, not the assets of the company. Yep, there's alot of problems at big red. But don't kid yourself, we're just as happy as the "owners". We just don't advertise it as much.
Last edited by tonysoprano on Tue Feb 14, 2006 4:26 pm, edited 1 time in total.
If everyone on both sides are happy that's great.tonysoprano wrote:Ivanhoe.
I follow most of what you're saying. The top money grabbers are always those who are the wheeler dealers - something the unions are not. If ACE sells assets, surely you don't expect the labour groups to see any rewards. I don't have a problem with that actually. When AC hired me I knew the ballpark of what my salary and pension were going to be right to retirement and beyond. That's what I signed up for, nothing more. We can only negotiate our salaries and benefits, not the assets of the company. Yep, there's alot of problems at big red. But don't kid yourself, we're just as happy as the "owner's". We just don't advertise it as much.
The thing I was trying to point out is that as AC is being bled by short term investors , it is being weakened. The end result of that will NOT be happiness. I don't really know if anything can be done to stop it or not but it would behoove those involved to be aware of what's going on. What you signed up for (salary and pension) could be negatively impacted if what I think is playing out is true. Watch your six.
Tony,
Look around at your peers worldwide who knew roughly what their pay and pensions were going to be for their career. Not always the case. Carefull mate. Just out of curiosity as I have no idea what is the situation in the pension department for AC pilots? We have been shafted over here but the government can be blamed for that.
AC had a bad quarter but its not the end of the world. Its the overall trend that matters. Shareholders/creditors are likely to be less flexible than in the past if targets are not met. Hopefully Milton does not sell the farm in trying to keep up.
Look around at your peers worldwide who knew roughly what their pay and pensions were going to be for their career. Not always the case. Carefull mate. Just out of curiosity as I have no idea what is the situation in the pension department for AC pilots? We have been shafted over here but the government can be blamed for that.
AC had a bad quarter but its not the end of the world. Its the overall trend that matters. Shareholders/creditors are likely to be less flexible than in the past if targets are not met. Hopefully Milton does not sell the farm in trying to keep up.
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tonysoprano
- Rank 10
- Posts: 2589
- Joined: Mon Jul 18, 2005 7:01 pm
I am taking a look around the world and all I see are pilots' salaries going down and in particular in N. America, companies on the verge of going T-up. That's why I'm glad to be where I am. Will it last forever? I don't know.
Look guys, at the end of the day, I can't worry about things I can't control. My attitude is I'm here to enjoy it while it lasts. Hopefully that will be a long time. I get a kick out of all these experts on this forum who think their ideas will save the airline or that they can predict the downfall of an airline. We fly airplanes, that's all. If you don't like who you work for, get out. If you do, enjoy the ride.
Cheers boys.
Look guys, at the end of the day, I can't worry about things I can't control. My attitude is I'm here to enjoy it while it lasts. Hopefully that will be a long time. I get a kick out of all these experts on this forum who think their ideas will save the airline or that they can predict the downfall of an airline. We fly airplanes, that's all. If you don't like who you work for, get out. If you do, enjoy the ride.
Cheers boys.
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Jaques Strappe
- Rank (9)
- Posts: 1847
- Joined: Mon Feb 07, 2005 6:34 pm
- Location: YYZ
RB
We managed to keep our pensions intact, for now. We have a defined benefit system, so we know what we can expect for a retirement income. If it stays status quo, it is probably the best pension in the country second only to our beloved politicians.
However, I think anyone who believes the defined benefit system will last beyond another 10 years is dreaming in technocolour. In todays climate, it is not sustainable and will become a dinosaur. Most companies are moving toward a defined contribution and downloading the market risk to the end user.
J.S
We managed to keep our pensions intact, for now. We have a defined benefit system, so we know what we can expect for a retirement income. If it stays status quo, it is probably the best pension in the country second only to our beloved politicians.
However, I think anyone who believes the defined benefit system will last beyond another 10 years is dreaming in technocolour. In todays climate, it is not sustainable and will become a dinosaur. Most companies are moving toward a defined contribution and downloading the market risk to the end user.
J.S
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