Alaska Airlines And Horizon Air Employees Receive Record $72 Million In 2010 Annual Bonus Pay
2/17/2011 7:21:04 AM
SEATTLE — Alaska Air Group paid record annual bonuses totaling $72 million this week to nearly all of its 12,600 employees for exceeding the company's 2010 operational and financial goals. The bonus of about 9 percent, or more than one month's pay for most workers, is in addition to $1,000 to $1,200 in monthly bonuses that each employee earned last year for achieving on-time and customer satisfaction targets. The monthly and annual bonuses combined amounted to $85 million.
"Our company enjoyed a banner year marked by record financial results, being the No. 1 on-time major airline in North America and winning our third straight J.D. Power award for customer service," said Bill Ayer, Alaska Air Group's chairman and chief executive officer. "The outstanding efforts of our employees are at the heart of our success. I want to once again thank and congratulate them, and I'm very pleased to see everyone at Alaska Airlines and Horizon Air share in our financial prosperity."
Nearly $44 million in bonuses — 61 percent of the total — is being paid to some 6,000 Alaska Airlines and Horizon Air employees in the Puget Sound area. Another $10.7 million is being paid to employees in the Portland, Ore., area while $7.6 million is going to workers in the state of Alaska.
"We're proud to reward our employees for their terrific work and hope these bonuses will bring a little sunshine to businesses in the communities we serve," Chief Financial Officer Brandon Pedersen said.
Bonuses in the Performance Based Pay Plan are determined by meeting specific company-wide targets on safety measures, customer service satisfaction, cost control and profit. Annual bonuses have averaged nearly 5 percent since the plan was formed in 2003.
Alaska Airlines and Horizon Air, subsidiaries of Alaska Air Group (NYSE: ALK), together serve more than 90 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico.
Alaska Airlines ranked "Highest in Customer Satisfaction Among Traditional Network Carriers" in the J.D. Power and Associates 2008, 2009 and 2010 North America Airline Satisfaction StudiesSM. For reservations, visit alaskaair.com.