Us Airways Posts $507 Million Net Profit For 2006

[Hpilot]

Press ReleaseSource: US Airways Group, Inc.
US Airways Group, Inc. Reports Fourth Quarter and Full Year 2006 Profit
Tuesday January 30, 8:00 am ET Highlights of the new US Airways Group, Inc. (the Company) fourth quarter and full year 2006 results: - The Company reported a fourth quarter 2006 net profit of $12 million, or $0.13 per diluted share, which includes special items of $74 million. Excluding special items, the Company reported a fourth quarter 2006 net profit of $86 million or $0.91 per diluted share. - The Company reported a full year 2006 net profit before cumulative effect of change in accounting principle of $303 million, or $3.32 per diluted share, which includes special items of $204 million. Excluding special items, the Company reported a net profit before cumulative effect of change in accounting principle of $507 million, or $5.47 per diluted share. - The Company accrued $11 million for its annual employee profit sharing program, bringing the full year 2006 employee profit sharing program accrual to $59 million. - The Company had $3.0 billion in total cash and investments, of which $2.4 billion was unrestricted, on Dec. 31, 2006.

 

[400ADude]

Very impressive.

 

[Hutchman]

Looks like they could've afforded to actually pay thier pensions. The employees should demand 100% profit sharing for the next decade.

 

[Tejas-Jet]

Congrats Guys !!! I know its been a long hard road for the "East" pilots...probably the West guys too. Maybe Douggie could pony up on the pension issue....and other stuff...

 

[Heavy Set]

Reading that statement gave me a headache. Are you sure there was a profit, after excluding all of those special items? (Net profit before cumulative effect of change in accounting principle.....huh?) Good job guys if you did profit, many didn't even get $12 million profit this last quarter.

 

[Wiskey Driver]

Reading that statement gave me a headache. Are you sure there was a profit, after excluding all of those special items? (Net profit before cumulative effect of change in accounting principle.....huh?) Good job guys if you did profit, many didn't even get $12 million profit this last quarter.

Yes Heavy we did and with that we are currently working on an industry leading contract.

WD.

 

[steveg]

Yes Heavy we did and with that we are currently working on an industry leading contract.

WD.

Umm, no we aren't. I wish we were, but it is no where close to industry leading.

 

[FDJ2]

Looks like they could've afforded to actually pay thier pensions.

My thoughts exactly. Parker ought to reinstate the pensions.

 

[Wiskey Driver]

Umm, no we aren't. I wish we were, but it is no where close to industry leading.

Well since I am here at the MEC office today and I am in conf with the Neg committee I think that I may in fact be in a little better position info wise than you right now. Now with that said if you are in PHX today, come by the pizza lunch and lets talk!!!

WD.

 

[xanderman]

Profit!

And yet we can't seem to motivatethe company at the table. WD it's time to put our money where our mouth is!!!! Please! Give a PM or answer my e-mail...

Andy

 

[Doug Parker]

.


Show me the $$$$ you B!tch (Dougie Dickweed Cost Neutral Azzwipe) !!!




.

 

[Wiskey Driver]

And yet we can't seem to motivatethe company at the table. WD it's time to put our money where our mouth is!!!! Please! Give a PM or answer my e-mail...

Andy

PM Sent.

WD.

 

[Wiskey Driver]

.


Show me the $$$$ you B!tch (Dougie Dickweed Cost Neutral Azzwipe) !!!




.

Settle down DP were're on it. BTW what is your blood pressure?? You are going to give yourself a heart attack.

WD.

 

[Doug Parker]

Settle down DP were're on it. BTW what is your blood pressure?? You are going to give yourself a heart attack.

WD.

good - then I won't have to worry about being held down by the geriatrics for the rest of my career at a third rate carrier working with a bunch of pi$$ed off pilots.......................


.

 

[ferlo]

Well since I am here at the MEC office today and I am in conf with the Neg committee I think that I may in fact be in a little better position info wise than you right now. Now with that said if you are in PHX today, come by the pizza lunch and lets talk!!!

WD.

I guess that means that somebody has seen the light regarding co pilot payrates. Please tell me they're no where near what they were a few months ago. All of us here at Alaska are behind your effots 110%. Go for the moon and damn the torpedos. They made half a billion dollars, it's time for somebody to pull out their wallet and payback.

 

[L'il J.Seinfeld]

duplicate

 

[L'il J.Seinfeld]

Well since I am here at the MEC office today and I am in conf with the Neg committee I think that I may in fact be in a little better position info wise than you right now. Now with that said if you are in PHX today, come by the pizza lunch and lets talk!!!

WD.

So you guys are trying for 130/hr for 2d year FOs and 230 for 12 year capts? That's industry leading.

 

[Doug Parker]

So your 2d year FO rates are 130/hr? That's industry leading.

Hey Jerry,

Our proposed 2nd year FO rates are $130 / hour (divided by 2) - that is industry lagging !!!



.

 

[Green]

Well since I am here at the MEC office today and I am in conf with the Neg committee I think that I may in fact be in a little better position info wise than you right now. Now with that said if you are in PHX today, come by the pizza lunch and lets talk!!!

WD.

Just out of curiosity whiskey how is our ´wish list´industry leading?? If we get EVERYTHING we are asking for our most senior A330 international captain will just make as much as a SWA 737 CA and our most senior 737 CA will be about 20% below SWA. How is that industry leading? What you mean to say is that our pay will be above the BANKRUPTCY driven wages at UAL, DAL, and NWA. They took a 50% paycut and our proposal will put us just above DAL´s ch11 payrates. Please excuse those of us who aren´t jumping with glee.....

Our wishlist won´t even put us in the same ballpark as UPS, FEDEX whose current índustry leading rates are well below the previous rates at UAl and DAl. I appreciate your hardwork but I truly believe the AWA MEC suffers from a serious case of stockholm syndrome. Time to wake up guys! US Airways is making money hand over fist but we don´t even have the b%lls to ask for SWA wages. Do you guys actually believe the drivel/doublespeak that Parker spouts?

This is what we get when we have volunteers going up agains an army of company lawyers and PROFESSIONAL negotiators. Again I appreciate your hard work but why can´t Alpa realize that the average line pilot with a college degree is no match agains Jerry Glass who has been doing this kind of stuff his whole life? We fly airplanes....

Industry leading.....that was good for a laugh..

 

[Green]

So you guys are trying for 130/hr for 2d year FOs and 230 for 12 year capts? That's industry leading.

Seinfeld,

Of course not! That might cost the company some money. Our MEC must believe that you can either have a good contract or job security but not both. Sad....

 

[Wiskey Driver]

Just out of curiosity whiskey how is our ´wish list´industry leading?? If we get EVERYTHING we are asking for our most senior A330 international captain will just make as much as a SWA 737 CA and our most senior 737 CA will be about 20% below SWA. How is that industry leading? What you mean to say is that our pay will be above the BANKRUPTCY driven wages at UAL, DAL, and NWA. They took a 50% paycut and our proposal will put us just above DAL´s ch11 payrates. Please excuse those of us who aren´t jumping with glee.....

Our wishlist won´t even put us in the same ballpark as UPS, FEDEX whose current índustry leading rates are well below the previous rates at UAl and DAl. I appreciate your hardwork but I truly believe the AWA MEC suffers from a serious case of stockholm syndrome. Time to wake up guys! US Airways is making money hand over fist but we don´t even have the b%lls to ask for SWA wages. Do you guys actually believe the drivel/doublespeak that Parker spouts?

This is what we get when we have volunteers going up agains an army of company lawyers and PROFESSIONAL negotiators. Again I appreciate your hard work but why can´t Alpa realize that the average line pilot with a college degree is no match agains Jerry Glass who has been doing this kind of stuff his whole life? We fly airplanes....

Industry leading.....that was good for a laugh..

Granted Green but you guys don't have a very realistic view of the SWA contract as a whole. With exception to pay rates and pay rates only I don't see it. Now I agree 200% with the company making this kind of dough. we need some of the pie. Now we discussed SWA payrates and we can get that but trust me something else will have to suffer in order to get it. That could be health ins or scheduling or something that most won't want to give up.!!! Now I have asked that we retool this section because this was done prior to a new company being thrown into the mix. So do I think that we can tweek another $25/hr out of the company, absolutly but remember all we do is bring it to you it up to YOU the line pilots to accept or reject it and I can live what ever the decision of the pilot group is.

WD.

 

[Green]

Granted Green but you guys don't have a very realistic view of the SWA contract as a whole. With exception to pay rates and pay rates only I don't see it. Now I agree 200% with the company making this kind of dough. we need some of the pie. Now we discussed SWA payrates and we can get that but trust me something else will have to suffer in order to get it. That could be health ins or scheduling or something that most won't want to give up.!!! Now I have asked that we retool this section because this was done prior to a new company being thrown into the mix. So do I think that we can tweek another $25/hr out of the company, absolutly but remember all we do is bring it to you it up to YOU the line pilots to accept or reject it and I can live what ever the decision of the pilot group is.

WD.

Sure it is up to us but to decide or not and I have a feeling that what you guys are shooting for vs the expectaions of this pilot group will end up with 51% of the pilot group voting yes. In my humble opinion you guys are playing into Parkers hand. Please show me one section of SWA´s contract that sucks compared to ours. I believe the reserves over there get 14 or 15 days off per month while line holders seem to average around 18. They have profit sharing as well as stock options. I don´t believe our insurance is head and shoulders better than SWA.

Sure they are productive but if I hear another AWA captain tell me that ´I would never want to work at SWA because they work too hard´ while we are in the middle of a redeye to EWR for the 5th time that month I´m going to puke! We at AWA work as hard as anyone...period! Parker and his minions make more than anybody at SWA. Why don´t we deserve to make just as much and enjoy the profit sharing-quality of life that SWA pilots earn? You guys are buying into his bullsh%t in my opinion. Of course I know opinions are like as%h%les we all have one but if you want 97% to vote yes the tone needs to change drastically.

Again I do not mean to attack you and I highly respect and appreciate your efforts!! Hang in there....

 

[xanderman]

Granted Green but you guys don't have a very realistic view of the SWA contract as a whole. With exception to pay rates and pay rates only I don't see it. Now I agree 200% with the company making this kind of dough. we need some of the pie. Now we discussed SWA payrates and we can get that but trust me something else will have to suffer in order to get it. That could be health ins or scheduling or something that most won't want to give up.!!! Now I have asked that we retool this section because this was done prior to a new company being thrown into the mix. So do I think that we can tweek another $25/hr out of the company, absolutly but remember all we do is bring it to you it up to YOU the line pilots to accept or reject it and I can live what ever the decision of the pilot group is.

WD.

I agree. Pay rates are one thing. Work rules/QOL issues are another altogether. WD I think you know full well that we want and, quite frankly, expect to have a contract that will reflect the contributions made by this pilot group both east and west. You constituents are behind you. Let's go get that contract!!!!

Andy

 

[ferlo]

Granted Green but you guys don't have a very realistic view of the SWA contract as a whole. With exception to pay rates and pay rates only I don't see it. Now I agree 200% with the company making this kind of dough. we need some of the pie. Now we discussed SWA payrates and we can get that but trust me something else will have to suffer in order to get it. That could be health ins or scheduling or something that most won't want to give up.!!! Now I have asked that we retool this section because this was done prior to a new company being thrown into the mix. So do I think that we can tweek another $25/hr out of the company, absolutly but remember all we do is bring it to you it up to YOU the line pilots to accept or reject it and I can live what ever the decision of the pilot group is.

WD.

It only has to be that way if you believe Parker's Bullsh*t about insisting on a cost neutral contract. Get it all. It can be done, but your boys behind the wheel need to get "on board" 100% if you know what I mean. Until then, get comfortable with sub bankrupt wages in a year they made over half a bill. and have another 11 bill to throw at Delta. Take the gloves off, time is running out.

 

[Capt.Underpants]

East Pilots.

Any East pilots here know how your profit sharing payout is setup? Our MEC decided to split it equally between FO's and Capt's rather than using the standard W2 method. Just wondering if your guys did the same.

 

[800Dog]

Now we discussed SWA payrates and we can get that but trust me something else will have to suffer in order to get it. That could be health ins or scheduling or something that most won't want to give up.!!!

WD.

Are you willing to strike to get a bigger piece of the pie? It amazes how you and my Delta reps. as well feel that we have to give something up in order to gain. ALPA pilots need to draw a line in the sand on certain issues and be willing to take it to the mat. We look like the biggest bunch of p*****s compared to those who came before us. The ones who regularly attended LEC meetings, the ones who suffered to make the profession what it was up until five or so years ago. Stop the defeatist attitude and fight for your share. The share you guys deserve. I am off my soapbox now. Best of luck to you all.

 

[bigtexpilot]

Just out of curiosity whiskey how is our ´wish list´industry leading?? If we get EVERYTHING we are asking for our most senior A330 international captain will just make as much as a SWA 737 CA and our most senior 737 CA will be about 20% below SWA. How is that industry leading? What you mean to say is that our pay will be above the BANKRUPTCY driven wages at UAL, DAL, and NWA. They took a 50% paycut and our proposal will put us just above DAL´s ch11 payrates. Please excuse those of us who aren´t jumping with glee.....

Our wishlist won´t even put us in the same ballpark as UPS, FEDEX whose current índustry leading rates are well below the previous rates at UAl and DAl. I appreciate your hardwork but I truly believe the AWA MEC suffers from a serious case of stockholm syndrome. Time to wake up guys! US Airways is making money hand over fist but we don´t even have the b%lls to ask for SWA wages. Do you guys actually believe the drivel/doublespeak that Parker spouts?

This is what we get when we have volunteers going up agains an army of company lawyers and PROFESSIONAL negotiators. Again I appreciate your hard work but why can´t Alpa realize that the average line pilot with a college degree is no match agains Jerry Glass who has been doing this kind of stuff his whole life? We fly airplanes....

Industry leading.....that was good for a laugh..

I would love to have a major increase in pay rate but, I don't want to fly 8 legs a day to get it. Our (AWA) contract now as a whole is not that bad not withstanding the pay rates. Sometimes the grass is not that GREEN on the otherside.

 

[Wiskey Driver]

Are you willing to strike to get a bigger piece of the pie? It amazes how you and my Delta reps. as well feel that we have to give something up in order to gain. ALPA pilots need to draw a line in the sand on certain issues and be willing to take it to the mat. We look like the biggest bunch of p*****s compared to those who came before us. The ones who regularly attended LEC meetings, the ones who suffered to make the profession what it was up until five or so years ago. Stop the defeatist attitude and fight for your share. The share you guys deserve. I am off my soapbox now. Best of luck to you all.

800Dog,

Here is the thing. Most don't get it and I want to get across everyone the very real of the situation. I realize that after seeing the earnings announcement of half a billion dollars that everyone says well go and get my money. I want nothing mre than to get that money TRUST ME!! but there is a cost to everything and there comes a point where you can be priced out of the market. I never saw this being a line pilot and I highly suggest every pilot on every property getting involved in the union process and learn just what goes on on a daily basis. Far too many just want to fly there trips and go home. This process is extremely involved and much much more goes on and it's far more complicated then I can go on in this forum. I strongly urge all to really get involved...

Now that's all I am going to say about that. (forrest gump)

WD.

 

[Wiskey Driver]

I would love to have a major increase in pay rate but, I don't want to fly 8 legs a day to get it. Our (AWA) contract now as a whole is not that bad not withstanding the pay rates. Sometimes the grass is not that GREEN on the otherside.

EXACTALLY!!!!!! What he said...

WD.

 

[vtwo]

fupm

here is your negotiating motto. every employee should adopt this http://www.youtube.com/watch?v=Qmjdoc7BLlA