SEATTLE, Feb. 10, 2017 /PRNewswire/ -- Employees of
Alaska Air Group companies Alaska Airlines and Horizon Air are
receiving $100 million in bonuses
today, following Wednesday's record fourth quarter and record
full-year earnings announcement. 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.
"We know it is our incredibly hard-working employees who truly
make our airline the best in the industry, and we're thrilled to be
able to say thank you with a bonus for outstanding performance,"
said Alaska Airlines CEO Brad
Tilden.
The PBP bonus is in addition to the approximately $15 million 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 $115
million.
Geographic breakdown:
- About $62 million in annual
bonuses — more than 60 percent of the total — is being paid to
Alaska and Horizon employees in
the Puget Sound area
- $14 million is being paid to
employees in the Portland, Oregon
area
- $9 million is going to employees
throughout the state of Alaska
- $9 million is going to employees
throughout the state of California
Starting this year, Virgin America employees are included in
Alaska's PBP program. Alaska closed its acquisition of Virgin
America in December 2016, with the
goal of creating a national footprint and an unparalleled
capability to serve the traveling needs of people living on the
West Coast. Together, the airlines offer more flights to more
destinations from the West Coast than any other airline.
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).
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SOURCE Alaska Air Group, Inc.