SKYW 3rd Qtr. Earnings

[indianboy7]

I think ASA upgraded...


hourly pay

Duty regs... Any skywest pilots know what a duty reg is?

if you're talking about the duty RIG, us Skywest pilots are familiar with it...in fact, we've been getting the 2:1 duty RIG for quite a while..........

 

[yellowfever]

True that we don't get 70-rates on deadheading or during vacation. If vacation value is too litte, we can always just 'stamp' on extra credit though. Actually, and this is a personal choice, I minimize my time credited towards vacation so I can max out banked USR and VAC time; never sold any or 'tacked' on any yet, but it's a way to drive up current income with deferred income. In the above sense, you are correct our rates are the same; but the income I receive from those pales in comparison to regular wages, to which at my year group equate to $70.70 (50) & $73.57 (70/90)--tied together but not the same.

It's not the best I concede, but it's not bad either--we're looking at small percentage points on an annual basis. The flexibility in bidding/dropping/adding between airframes is nice too; are you paid at the 70-rate when you bid the 50 or drop/add to better your schedule? Dunno, hopefully BS & Co will address this kinda stuff soon...

As for COLA, you know the answer to that--right now, just 1% Jan01 last year (CRJ) plus 3% on your DOH (All).

the 3% is longevity pay... your cost of living scale was removed in 03 when they implemented a pay freeze.

 

[antisocialist]

Here's a challenge to ASA, or just about any other regional. Anyone want to compare W-2 for W-2 for the last 5 years? Let's say you were hired into the turbo prop 5 years ago and now you're what? Still sitting in the right seat of the t-prop at ASA (or Horizon, or Mesa, etc.). Sitting in the left seat of a 70 seater at SKYW, at your base of choice, 16 days off a month, nice quarterly bonuses (averaging about five percent of your pay for the last year, more than that before they bought that dog ASA). By the time your extra two bucks an hour as a captain put you over the SKYW pay rate the SKYW pilot will have been cashing thousands of dollars more in paychecks for years, without a layoff or base closure. Let's see it where it counts, W2 for W2. No way to prove it of course, but you know it's true.

 

[Gr82Aviate]

the 3% is longevity pay... your cost of living scale was removed in 03 when they implemented a pay freeze.

Last COLA increase was hire date the year before 9/11....(2000)

 

[Gr82Aviate]

PDX/SEA Brasilia base is one United could do without, but rather than displace the pilots and maintenance SkyWest decides to run those routes at-risk. I believe about 25% of the United Brasilia flying is at-risk and 100% of the Delta Brasilia flying is at-risk.

Rigghtttt, JA only keeps PDX open out of the goodness of his heart...the EMB isn't making them any profits at all on the at-risk flying?

 

[s.o.sJTB]

Here's a challenge to ASA, or just about any other regional. Anyone want to compare W-2 for W-2 for the last 5 years? Let's say you were hired into the turbo prop 5 years ago and now you're what? Still sitting in the right seat of the t-prop at ASA (or Horizon, or Mesa, etc.). Sitting in the left seat of a 70 seater at SKYW, at your base of choice, 16 days off a month, nice quarterly bonuses (averaging about five percent of your pay for the last year, more than that before they bought that dog ASA). By the time your extra two bucks an hour as a captain put you over the SKYW pay rate the SKYW pilot will have been cashing thousands of dollars more in paychecks for years, without a layoff or base closure. Let's see it where it counts, W2 for W2. No way to prove it of course, but you know it's true.

Obviously from your post you havent been here very long. First of all ASA numbers dont count for the bonus you are so proud of, whether we bought them or not, it doesn't effect our bonus those numbers are based on SkyWest airlines not SkyWest inc...learn the difference.

Before you were hired, or dont want to acknowledge, SkyWest used to pay out 5% of the annual profits into ALL EMPLOYEES 401k's (no years of service requirements). They eventually changed that to the new bonus program. They basically took two dimes and a nickel from one pocket and put a quarter in your other pocket.

We have closed bases before and it WILL happen again...we are not immune. We have reduced flying in domiciles forcing crews to commute to other domiciles.

We have had alot of growth, but eventually that too will change, we have the opportunity to change things now when we there is a demand for pilots. Things will change eventually and when pilots are more than available management wont have a reason to try and improve things.

In response to the 3% COLA on your date of hire....again wake up! You sound like management, that pay raise is LONGEVITY to reward loyalty and experience. When that pay rate is the same as it basically was seven years ago (you were probably still in High School....cheap shot I know) and inflation has since gone up in the range of 12% then the purchasing power of that seat's salary has resulted in a net pay-cut, yet company profits have continued to grow. If my W2 is the same as a 12 year captain's W2 in 2000 then we are taking a pay cut from a company that continues to be successful and profitable.

 

[Gr82Aviate]

Obviously from your post you havent been here very long. First of all ASA numbers dont count for the bonus you are so proud of, whether we bought them or not, it doesn't effect our bonus those numbers are based on SkyWest airlines not SkyWest inc...learn the difference.

Before you were hired, or dont want to acknowledge, SkyWest used to pay out 5% of the annual profits into ALL EMPLOYEES 401k's (no years of service requirements). They eventually changed that to the new bonus program. They basically took two dimes and a nickel from one pocket and put a quarter in your other pocket.

We have closed bases before and it WILL happen again...we are not immune. We have reduced flying in domiciles forcing crews to commute to other domiciles.

We have had alot of growth, but eventually that too will change, we have the opportunity to change things now when we there is a demand for pilots. Things will change eventually and when pilots are more than available management wont have a reason to try and improve things.

In response to the 3% COLA on your date of hire....again wake up! You sound like management, that pay raise is LONGEVITY to reward loyalty and experience. When that pay rate is the same as it basically was seven years ago (you were probably still in High School....cheap shot I know) and inflation has since gone up in the range of 12% then the purchasing power of that seat's salary has resulted in a net pay-cut, yet company profits have continued to grow. If my W2 is the same as a 12 year captain's W2 in 2000 then we are taking a pay cut from a company that continues to be successful and profitable.

Actually, we used to get a bonus(which they took away without notice) along with the profit sharing for our 401K, and then acted like we were getting something additional when they took away our 401k profit sharing with their "new" bonus program.

If you check the real(not just core)inflation rate, especially in Calif., we've gone backward a lot more than 12% in the last 7 years without COLA, not to mention the continuing slide for 4 more years!

 

[MONKEY]

Actually, we used to get a bonus(which they took away without notice) along with the profit sharing for our 401K, and then acted like we were getting something additional when they took away our 401k profit sharing with their "new" bonus program.

If you check the real(not just core)inflation rate, especially in Calif., we've gone backward a lot more than 12% in the last 7 years without COLA, not to mention the continuing slide for 4 more years!

Also, all the cash that SKYW INC has on hand used to be earning money for SkyWest Airlines. This increased the profit margin for the airline, which made the bonus check bigger. Once we bought ASA all that money was moved to INC and the bonuses got smaller because of it.

 

[Skaff]

My quarterly bonus for last quarter was just over $1250 take home. Not complaining.

 

[ILOVEBEER]

I feel with all your poking, you are forgetting the fact that we did not get furloughed. A testament to our management and how they run things.

FYI, you didn't get furloughed because SKW was given mainline flying, NOT because your management was looking out for your best interests.

 

[outtahere]

You guys are still just at will magots, I don't care what your W-2 is.

 

[OO pilot]

Let's say you were hired into the turbo prop 5 years ago and now you're what? Still sitting in the right seat of the t-prop at ASA (or Horizon, or Mesa, etc.). Sitting in the left seat of a 70 seater at SKYW, at your base of choice

Typical comment from an RJ newbie.
What happens if your "base of choice" is Brasilia only??? I'll tell you what happens: Your fellow pilots (most of them way more junior) give you a 0% pay raise, and your actual COL and living standard have gone downhill for the past 5+ years, especially in California.
But I'm sure you're not aware SKW still has Brasilias, and most of them flown by guys WAY more senior than you. But who cares as long as YOU're doing allright...

 

[Gandalf]

In the event any of that stuff happens, this is the place I want to be. Dog it as you will, but I am glad I am here. 9/11 was not as bad here as it was at other places. I feel with all your poking, you are forgetting the fact that we did not get furloughed. A testament to our management and how they run things. It is funny how your criticism is working. Instead of focusing on your problems you try to put others down to make your own woes not feel so bad. That is sad. JA has been in this from the beginning, if he wants a bit for his family, good for him. He hasn't taken his share and ran like some other CEOs. Your ignorance is so very transparent. This is a good place. Sorry you chose a different route.

Wow, how much of the SGU juice do you drink a day? As stated before, we didn't furlough cuz' Untied guys/gals came over. Not all of it was due to some snazzy business scheme that JA cooked up.

Yes, is this a good place to be. But, man wake up. It is not putting others down to question where the company is taking you. Or do you just approach life like that - I bet mommy and daddy took real good care of you...have you actually worked a real job before this?

JA has been around since the beginning, but he ain't gonna be around forever. Good thing we have something to stand on, when something changes. Not!

Oh, and by the way JA is just doing his job...Nothing more, nothing less.

His job is to run the company so that a profit is made for the shareholders, nothing more, nothing less.

These "feelings" you have for JA and the company and you "think" the company "feels" for you are irrelevant.

Management of Skywest as other managements of companies in other industries have figured out(correctly) that treating their employees decently will lead to happier employees
and better production out of those employees.

However, this DOES NOT preclude or precede the overriding function of any business and the management running it.....TO MAKE A PROFIT!!!!

That's it. No big secret. Just, how do I get the most out of my employee in order to boost profitability?

In the pursuit of making the profit for the shareholders there is nothing that our precious JA won't do!

Open your eyes to what is going on with ASA. How about this last "raise"? How about no COLA increases? The screwing of the Bro pilots. The broken promises that happen over and over....

And before you jump on me for whining....These points illustrate that although it IS a good place to work, it could be better. Management COULD ACTUALLY STAND BY THE THINGS THAT THEY HAVE AGREED TO.

There are those that see that it is a good place to be, that they wish to remain here for a while, or make it better for those who follow, or most likely would like to "get theirs" before they get out.

Whatever our motivations are, sticking our collective heads in the sand just cuz' JA is driving and that somehow makes us "feel good" - is absolutely stupid!

 

[Beach Boy]

Third quarter - ho hum

http://money.cnn.com/news/newsfeeds/articles/prnewswire/LATH07608112007-1.htm

Good news for Skywest but if you do the math and compare it to the first of this year and 2006, nothing has changed in the net profit percentage - its still hovering around 5%.

To put that in perspective, if you bring home $5000 a month and your household expenses comprise 95% of your income, you have only $250 left over to see you through the month.

Another way to look at it is to divide the $875,000 reported by 90 days which is $9,722.00 operating revenue per day. Take the profit out of that (5%) and you get daily operating costs of $9,235.00 per day. Divide that into the reported net profit of 42,927 and you get 4.6 days of operating reserve.

Somehow, as a potential investor, I just can't get excited by that. Why invest in a company that manages a 5% net profit margin when most businesses manage 10% or better. Where would you put your money?

No doubt ALPA will want a good portion of that profit in the next contract. No doubt it will not occur to ALPA (as it didn't with the mainline contracts negotiated on the profit curve of the late 1990s) that the company needs that profit to see it through the next down cycle.

 

[sweptback]

No doubt ALPA will want a good portion of that profit in the next contract. No doubt it will not occur to ALPA (as it didn't with the mainline contracts negotiated on the profit curve of the late 1990s) that the company needs that profit to see it through the next down cycle.

What down cycle? The beauty of the regional industry is that you're guaranteed profit! Every flight that leaves for the remainder of the DCI contract (which goes until somewhere around 2020) is on a fee per departure basis. So explain to me again exactly how SkyWest/ASA could possibly lose money?

Obviously you subscribe to the Ron Reber plan of employee compensation rising and falling along with the profits of the company. For me, no thanks. I want to be compensated fairly for my services and not leave my paycheck tied up to the quality of decisions that our stellar management team makes.