United Airlines AFA MEC Website

Association of Flight Attendants-CWA United Master Executive Council

United to Announce Fourth Quarter Earnings on January 23, 2018

Date: January 9, 2018
Type: AFA Article

As we often do at this time of the year, we look back at where we’ve been to get a better picture of where we want to be in the year ahead.  As a corporation, a look at our financial performance and our balance sheet presents us with a unique opportunity to look at our strengths and presents us with a view of the challenges we face in the year ahead.  At this point, we have a view of ¾ of our collective 2017 accomplishment.  On January 23, 2018, United Airlines is expected to announce fourth quarter and full year earnings and will provide us with a full year overview of our financial performance.

 

 

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

Pre-tax Earnings

$145 million

$1.3 billion

$1.0 billion

 

Net Income

$96 million

$818 million

$637 million

 

Excluding Special Charges

Pre-tax Earnings

$196 million

$1.3 billion

$1.0 billion

 

Net Income

$129 million

$846 million

$669 million

 

 

Our Contractual Profit Sharing Program is set forth in Section 4.N. of our JCBA and sets forth that all Flight Attendants who have completed one full year of service as of December 31st of the year for which pre-tax earnings are being measured are eligible to participate in a pre-tax profit sharing program.

In the event the company has more than $10 million in Pre-tax earnings in the relevant calendar year (2017), the Flight Attendant Profit Sharing Pool shall be based on two components:

       i. 10% of Pre-tax Earnings that are not in excess of the Pre-tax earnings for the previous calendar year, and

      ii.  20% of Pre-tax Earnings that are in excess of the Pre-Tax Earnings for the previous calendar year.

Eligible Flight Attendants' Profit Sharing Bonuses will be calculated on a pro rata basis as part of the Annual Profit Sharing Pool determined by the ratio of the Flight Attendant’s Considered Earnings for the previous year (see Success Sharing Plan) to the aggregate amount of Considered Earnings for all eligible employees that year.

We expect additional information to be forthcoming on the Special Election Deferral to the 401(k) – opening and closing dates for those elections.  

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