Delta paying out $1.6B in profit-sharing bonuses on Valentine's Day
Workers get profit-sharing bonus of two months' pay
Fox Business Briefs: The program was launched in 2005 and was gradually dismantled after Delta filed for bankruptcy later that year.
Delta Air Lines employees will have more than a billion dollars to keep them warm on Valentine's Day.
The Atlanta-based airline is paying each of its 90,000 employees a profit-sharing bonus of about two months' salary on Friday, Chief Executive Officer Ed Bastian said at a Cobb Chamber of Commerce event last month. The company-wide payout will total $1.6 billion.
This is not the first time Delta, which was ranked the No. 1 airline in the United States by the Wall Street Journal, has given its employees a big bonus. The carrier paid $1.3 billion in bonuses last year and $1.1 billion in each of the two years before that.
AMERICAN, DELTA SUSPEND ALL FLIGHTS TO CHINA OVER CORONAVIRUS FEARS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 64.85 | +0.39 | +0.61% |
This year's payout comes on the heels of a good year for Delta. The company hit $11 billion in revenue in 2019, it said in its full-year report. That's an uptick of 7 percent from 2018.
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In the report, Bastian said 2019 "was a truly outstanding year on all fronts — the best in Delta's history operationally, financially and for our customers. Our people, and their commitment to bringing best-in-class travel experiences to our 200 million customers, are the foundation for our success. As we enter 2020, demand for travel is healthy and our brand preference is growing, positioning Delta to deliver another year of strong results."
Delta's stock has climbed nearly 14 percent in the last year.
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