Swa is wildly profitable and has been for 40 years in a row.
And with the exception of '08 and '09, so have we.
This company has been making lots and lots of money for many years now. It's a shame some buy into the company propaganda that's been put out over the years of how they were losing money, or were barely making a profit. Whatever.
Those of us who have been here since the 90's have watched this game play out. I'll never forget during our fight for the '05 contract how the union asked for an audit of the "books", since they were crying so poor and couldn't pay us any more. The company generously agreed, sort of. The union was allowed the most general of overviews. A couple pages that basically showed Netjets, Inc. was losing money. The thing is, Netjets, Inc. included all the Netjets subsidiaries: NJA, NJI, EJM, NJME, and most importantly, NJE. I say NJE because this one was the kicker. You see, it was the worst kept secret around the company that Netjets was using large profits from NJA to start and run NJE, which always seemed to be losing money. NJA floated NJE for years. In fact, they've done it up until recently, when NJE finally turned a small profit.
The union knew this too, so they asked for a forensic audit of the books. Man, you should have seen the company run from that!
And there were other tricks too the company would use to siphon away profits from NJA so they could show a loss. I'll never forget signing the bill at our own facility in HPN (being run by EJM, another Netjets subsidiary) where we charged ourselves $90 for a quart of oil. Or $200 for a lav service. Or ridiculously high ramp fees. Oh, and paying retail, or more, for training at FSI (another BH company). This was confirmed by more than a few sources.
NJA had been making PLENTY of money. And the proof came after we signed our CBA in '05. The very same CBA that the company, and many folks outside, including here, said would bankrupt the company. Because after we signed it NJA went on to make, and report, record profits in a very short timeframe. Wow, the turnaround was nothing short of miraculous, if you believed their lies about how much they had been losing. We're talking about less than a year from "OMG! We're losing a ton of money and paying you anymore is going to be the final nail in the company coffin!" to we're making so much money we can light our cigars with $100 bills! Amazing how much money we "made" when there was no more contract negotiations.
Do a little homework about NJA before making comments about profitability. This place is a cash cow. They can afford, easily, to pay us a great deal more.