From a long term shareholder point of view, I think profit sharing is better even if it entails a higher average payout. Reason being when things turn bad the costs will automatically go down.

If I was an employee, I would also prefer the profit share with a higher expected payout.

But I certainly understand how many mid level employees prefer the comfort of a higher base pay.

DiverDave: Oil may go back up some, and might blip around a bit. But for the next 10 years or so the US shale oil has changed the game and we will not see steady state oil over 60 or so. The real key to the end of the airline boom time is when other airlines than the 3+1 can crash the party.