Southwest Airlines Co. (NYSE: LUV) will share USD620 million through its Profit Sharing Plan with its employees for 2015–equaling approximately 15.6 percent of each eligible Employee´s eligible compensation, or the equivalent of eight weeks´ pay, the company said.
This USD620 million contribution–nearly USD1.7 million a day–is the largest total dollar amount Southwest has ever allocated to Profit Sharing.
This amount, which will be funded April 29, is more than the cumulative contributions to the Plan over the first 25 years (USD559 million from 1974-1998). Over four decades, Southwest profitsharing contributions will have totaled over USD3.4 billion–and more than USD1.4 billion for the past five years alone (2011-2015).
Dallas-based Southwest Airlines employs 49,000 people and serves 100 million customers annually.