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Delta Air Lines Pays $313 Million in Profit Sharing to Employees

ATLANTA, Feb. 14, 2011 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) today issued the following memo from CEO Richard Anderson to its more than 80,000 employees worldwide.

To: Delta Colleagues Worldwide
From: Richard Anderson
Subject: Sharing our success every step of the way
Congratulations and thank you! Today Delta is paying out $313 million in profit sharing – a direct result of your hard work and dedication that enabled Delta to record a $1.4 billion profit for 2010. We continue to deliver on our commitment to share Delta*s successes with those who make it possible. .

Profit sharing is not a one-time payout. Instead, it is part of your total compensation that includes a competitive package of pay, benefits and work rules along with additional opportunities to earn more when the company performs well. This year*s profit sharing continues the momentum that we*ve gained during the last four years, enabling continued investments in our people: .

Coming out of bankruptcy in 2007, Delta employees received $1 billion in incentives and improved compensation and benefit programs. .

For our strong financial performance in 2007, employees earned $158 million in profit sharing. .

As a testament to the airline we would build together, Delta employees were granted 15% equity in the combined company following the close of the merger in 2008, valued at approximately $900 million at the time of distribution. .

For solid operational performance in 2009, Delta people earned approximately $66 million through monthly operational performance bonuses. .

For three consecutive years, Delta increased base pay for frontline people, making good on a pre-merger promise to bring Delta base pay rates to industry-standard by the end of 2010. .

And today, as a direct reflection of your hard work and our merger*s success, we are sharing the largest profit sharing payout in our airline*s history. .

During the toughest of economic times this industry has faced, we kept our deals. When other major airlines were announcing involuntary furloughs, outsourcing and hiring freezes – Delta kept its commitment to no frontline involuntary furloughs as a result of the merger; we were bringing Reservations jobs back to the U.S.; we were insourcing in TechOps, Cargo and Airport Customer Service; and, in the last year alone, we added more than 4,000 new frontline jobs. .

In 2010, we completed virtually all our merger integration, expanded our global network, strengthened our industry-leading joint venture and alliance relationships, and began a massive investment in our product and the technology that supports the way we do business every day. Our progress has been remarkable. .

I hope you*ll all take some time today to celebrate with one another. We*re proud of what you*ve achieved. And, in addition to celebrations your leaders are hosting today across the system, full-page advertisements in USA Today, the Minneapolis Star Tribune, the Detroit Free Press and the Atlanta Journal-Constitution newspapers salute you, the best employees in the world. .

It*s a good time to be at Delta Air Lines. Our plan is working and while we have a great deal of work ahead of us, our opportunities are tremendous. With the dedication and determination of Delta people, I have no doubt we*ll successfully face the challenges of 2011. .

Thank you for all you do for Delta every day.

28.02.2011. 13:11

 

 
 
 

 
 
 
 
 

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