Delta is splitting $1.6 billion in 2019 profit with its 90,000 employees, amounting to about two months of extra pay. Talk about a great year!
The bonus amounts to about 16.6% of employee base pay, approximately two month’s salary. $1.6 billion sets a new record, surpassing records of $1.3 billion in 2018 and $1.1. billion in 2017.
Announcing the news on LinkedIn, Delta CEO Ed Bastian said:
“Delta would be nothing without our 90,000 people. They deserve all the credit.”
In a later statement issued by Delta, Bastian elaborated:
“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. I’m pleased to recognize their outstanding performance with a record $1.6 billion in profit sharing for 2019. As we enter 2020, demand for travel is healthy and our brand preference is growing, positioning Delta to deliver another year of strong results, including earnings per share of $6.75 to $7.75.”
Employees can expect the bonus checks on Valentine’s Day.
Christmas came late for the workers of Delta, with a huge bonus on the way. Whatever the cause and effect, Delta is on an upward spiral: the profit sharing fosters loyal employees who show their love for their company by offering excellent service. That in turns draws more customers to Delta, increasing profit. It’s a beautiful mechanism.
Congrats to the workers of Delta on another great year and congrats to Bastian and the Delta leadership. I don’t think we’ve ever seen an airline run this well overall.