United Fourth Quarter Earnings Live Event, January 16, 2019
January 8, 2019
At this time of the year, employees being to anticipate receipt of profit sharing checks tied to the financial performance of the company over the past year.
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 (2018), the Flight Attendant Profit Sharing Pool shall be based on two components:
1. 10% of Pre-tax Earnings that are not in excess of the Pre-tax earnings for the previous calendar year, and
2. 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.
At this point, we have a view of ¾ of our collective 2018 accomplishment. Before we can begin to look at profit sharing potential United must announce fourth quarter and full year earnings performance. Set for a tentative announcement date, of January 16, 2019. This quarter’s Earnings Live event will take place on Wednesday, January 16, from 4 p.m. to 5 p.m. CT. This interactive session will follow the company’s earnings announcement and will include an update on our fourth-quarter and full-year 2018 financial results. There will also be a Q&A portion with in-person and pre-submitted employee questions.
Once United’s full year earnings have been announced the information will provide us with a full year overview of our financial earnings and profits; profit sharing information will be forthcoming. The following captures the information on the first three quarters of 2018 and the full year for 2017 to form a basis for comparison.
Pre-tax Earnings 2018
Net Income 2018
Pre-tax Earnings 2017
Net Income 2017