This will be the fourth year in a row the legacy carrier has shared record profits with its more than 80,000 employees.
Delta Air Lines workers learned again this year that they would be getting an extra-special present this Valentine’s Day. The airline announced Wednesday that it would pay employees more than $1 billion in profit sharing.
“This is the fourth year in a row that Delta’s profit sharing has topped $1 billion — a milestone no company in history has ever achieved,” Delta CEO Ed Bastian said in a statement announcing the historic payout. “Delta people are the reason for our success and Valentine’s Day is our favorite day each year as we celebrate the incredible results our people have delivered.”
The company says that the record profit-sharing amount was earned by meeting operational goals, exceeding customer satisfaction expectations and earning record profits. Company officials say that tying profit-sharing payouts to performance has been mutually beneficial for employees and shareholders. According to the airline, this profit-sharing scheme has meant an 80 percent increase in total annual compensation for workers over the past decade. Delta has contributed more than $5 billion to employee profit sharing over the past five years alone.
“Our industry-leading profit sharing and compensation philosophy reflects a decision we made a long time ago to share in the company’s success each year with our people who make it possible,” Bastian explained. “Rather than make a one-off payment like other companies, Delta is invested in highly competitive base pay, an industry-leading annual profit sharing plan, and monthly bonuses each year when the airline performs well.”