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The approximately 1,000 Delta Air Line employees based in Dallas-Fort Worth today receive a combined total of $ 7 million in bonuses.
The Atlanta-based airline has an annual tradition of sharing profits with employees on Valentine's Day. This year, the company said, it is paying a total of $ 1.3 billion in bonuses to its more than 80,000 employees.
This is the second biggest gain of employees in the history of Delta. Delta distributed a record $ 1.5 billion employee bonus in 2016.
Premiums are paid in cash or in the form of contributions to retirement accounts, depending on what employees prefer. This year, bonuses represent approximately 14% of the annual salary of each Delta employee.
In Dallas-Fort Worth, Delta has employees at the DFW International Airport, Dallas Love Field and a call center that handles flight bookings and service requests.
Most commercial airlines share profits with their employees. Profit sharing agreements and their formulas are usually part of collective bargaining with airline employees.
George Ferguson, senior airline badyst for Bloomberg Intelligence, said that the compensation structure – which bases employee compensation on a company's success – works well in an industry where earnings can fluctuate dramatically depending on the price of fuel and the economic situation.
He said profit-sharing was "a way for airlines to allow employees, especially pilots, to participate in the good years of society and protect them in a difficult year."
The Dallas-based Southwest Airlines is sharing $ 544 million in employee profits this year, up slightly from $ 543 million last year. Premiums, paid in cash and retirement contributions, will be paid on March 14th. They account for nearly 11% of employee wages.
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