Employees at Alaska Airlines and Horizon Air are receiving bonuses of more than nine percent of their annual pay, or nearly five weeks additional pay, for most workers, the company said.
For the past seven years, employees have received an average annual bonus equal to approximately one month´s pay.
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. The PBP bonus is in addition to the approximately USD1,100 in 2015 operational bonuses that most employees earned for achieving monthly on-time and customer satisfaction goals. The combined monthly and annual 2015 bonuses, paid to employees, totals USD120 million.
Nearly USD56 million in annual bonuses — 57 percent of the total — is being paid to Alaska and Horizon employees in the Puget Sound area. Another USD14 million is being paid to employees in the Portland, Oregon area, while USD8 million is going to employees throughout the state of Alaska.
Alaska Airlines, a subsidiary of Alaska Air Group (NYSE: ALK), together with its partner regional airlines, serves more than 100 cities through an expansive network in the United States, Canada, Mexico and Costa Rica.