Delta Air Lines announced on Tuesday that the company’s 85,000 employees will receive $US1.1 billion in profit sharing.
In fact, it’s the third year in a row the Atlanta-based airline’s employees have received more than $US1 billion in profit sharing.
“We are so proud and excited to celebrate on Feb. 14 with all Delta people worldwide, who serve our customers and run the most reliable airline operation in the world,” Delta CEO Ed Bastian said in a statement.
For Delta’s employees, the payout represents 10% of their gross income.
According to Airways, Delta’s profit-sharing plan is structured so that employees are returned roughly 10% of profits, but can escalate to 20% if the company earns more than $US2.5 billion a year.
Over the past five years, Delta’s profit sharing initiative has paid out more than $US5 billion.
The profit sharing is on top of the 6% raise Delta employees will receive in April. In total, the carrier’s workers have seen their base pay increase by nearly 25% since 2015.
Employees at fellow legacy carrier, United, earned $US628 million in shared profits for 2016 while American Airlines’ own profit sharing program kicks off this year.
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