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REUTERS/Shannon Stapleton Delta Airlines announced this month that its 80,000 global employees will receive a total of $1.1 billion in profit sharing.Â
The $1.1 billion represents the largest round of profit sharing in the company’s history.
So what does this mean for the average employee?
According to Delta, individual employees will receive what is equivalent to more than 16% of their annual compensation, or roughly two months’ pay.Â
“At Delta, we believe that people, values, and culture drive our success,” Delta Airlines CEOÂ Richard Anderson said. Â
“It is essential for our employees to have an ownership stake in our business and share in the record-breaking achievements they helped create.”
Last October, Delta employees received a 5% advance on the profit sharing.
Of the $1.1 billion, roughly $450 million will go to employees based in the airline’s Atlanta, Georgia headquarters, the Atlanta Business Chronicle reported.Â
In addition, Delta employees also earned $84 million in performance bonuses called “Shared Rewards” for helping the company meet corporate goals.Â
Over the past five years, Delta has paid out roughly $2.9 billion in profit sharing and Shared Rewards.Â
Cost conscious Delta has been one of the most profitable airlines in the business. In 2013, the world’s second largest airline made more than $10 billion in net profit Air Transport World reported. However, that figure dropped to just $659 million in 2014 due to losses caused by the company’s fuel hedging strategy. Â
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