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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
FinanceDelta Air Lines

Delta gives 5% pay bump to over 80,000 employees

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
April 23, 2024, 11:53 AM ET
Delta has increased employee salaries by 5%.
Delta has increased employee salaries by 5%. Jabin Botsford/The Washington Post via Getty Images
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Delta Airlines is giving its workers a raise.

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The Atlanta-based carrier has announced an across-the-board 5% pay raise for eligible ground employees and flight attendants, which covers more than 80,000 workers. Additionally, the airline is raising the starting salary of domestic positions to a minimum of $19 per hour.

The raises will be effective June 1.

“Delta’s leading position comes thanks to a simple concept that dates back nearly a century—invest in our people first, and they will deliver great service and experiences for our customers,” wrote CEO Ed Bastian in an email to staff. “That’s exactly what you do, and it always sets us apart. And it’s why I’m happy to be announcing our next investment in you.”

Bastian, in his note, added that including this most recent raise, the company has “made cumulative investments of 20–25% in compensation in each of our largest frontline workgroups since 2022.”

The salary increase comes roughly two months after Delta’s annual profit-sharing payment to workers. On Valentine’s Day, the carrier doled out $1.4 billion to its workers, a bonus check that worked out to 10.4% of their annual salary. That’s more than double what the airline handed out last year and significantly higher than the $108 million that was shared in 2022. Since starting the profit-sharing program in 2007, Delta says it has given its employees $11 billion.

Next year’s profit-sharing pool is already off to a good start as well. Following the airline’s strong first quarter, Delta has set aside $125 million in profit sharing funds, which is $50 million more than it did in the first quarter of 2021.

Delta, so far, is the only airline to report a profit for Q1. American Airlines has not yet reported its numbers, but analysts are expecting a quarterly loss of 28 cents per share.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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