Employees of Alaska Air Group companies Alaska Airlines and Horizon Air are receiving USD 100m in bonuses, following Wednesday´s record fourth quarter and record full-year earnings announcement, the company said.
For most employees, this equates to more than 8 percent of their annual pay in 2016.
The company´s annual bonus, called Performance Based Pay (PBP), is determined by meeting or exceeding specific company-wide goals for safety, customer satisfaction, cost control, and profit. For the eighth year in a row, employees will enjoy a payout of about an additional month´s pay.
The PBP bonus is in addition to the approximately USD 15m in 2016 operational bonuses that employees earned for achieving monthly on-time and customer satisfaction goals. The combined monthly and annual 2016 bonuses paid to employees totals USD 115m.
Starting this year, Virgin America employees are included in Alaska´s PBP program. Alaska closed its acquisition of Virgin America in December 2016.
Alaska Airlines and Virgin America along with their regional partners, fly 40 million customers a year to 118 destinations with an average of 1,200 daily flights across the United States and to Mexico, Canada, Costa Rica and Cuba. With Alaska and Alaska Global Partners, customers can earn and redeem miles on flights to more than 900 destinations worldwide. Learn more about Alaska´s award-winning service and unmatched reliability at newsroom.alaskaair.com and blog.alaskaair.com. Alaska Airlines, Virgin America and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).