It's the second-biggest payout in the company's history.
For the third year in a row, Delta Air Lines’ 80,000 employees will receive more than $1.1 billion in profit sharing.
The airline announced the news Tuesday. The sum marks the second-biggest payout in the company’s history, after last year’s $1.5 billion record payout. Delta says it has paid out nearly $5 billion through its profit-sharing program over the past five years.
“No other company and certainly no other airline has ever shared $1 billion in profits with its employees,” said CEO Ed Bastian in a statement. “We are so proud and excited to celebrate on Feb. 14 with all Delta people worldwide, who serve our customers and run the most reliable airline operation in the world.”
That payout represents about 10% of Delta employees’ gross income, according to Business Insider. Overall, Delta’s profit-sharing program returns employees about 10% of profits, Airways reports. And that number has the potential to go up: If the airline makes more than $2.5 billion a year, the return increases to 20%.
The news comes after Delta announced last November it was giving some of its employees a 6% pay increase beginning in April.