SEATTLE, Feb. 27, 2013 /PRNewswire/ -- Alaska Air Group paid annual bonuses totaling nearly a month's pay today to nearly 13,000 employees for exceeding the company's 2012 operational and financial goals. The bonus of about 8 percent of annual pay is in addition to the $1,100 in bonuses, on average, that each employee earned last year for achieving monthly on-time and customer satisfaction targets. The combined monthly and annual bonuses amounted to nearly $88 million.
"We're pleased to share the company's financial success with our amazing employees at Alaska Airlines and Horizon Air," Alaska Air Group CEO Brad Tilden said. "Their teamwork and dedication to our customers are at the heart of our success. On behalf of the leadership team, I want to thank and congratulate our people for their outstanding efforts."
FlightStats.com recently ranked Alaska Airlines the No. 1 on-time major airline in North America for the third year in a row and J.D. Power and Associates named the carrier highest in customer satisfaction among traditional network carriers for the fifth consecutive year in 2012.
More than $42 million in annual bonuses — 62.4 percent of the total — is being paid to some 6,700 Alaska and Horizon employees in Washington state. Another $9 million is being paid to nearly 2,000 employees in the Portland, Ore., area; $6.5 million is going to 1,580 workers in the state of Alaska; while $6.2 million will be paid to about 1,470 employees working in California."This bonus truly speaks to the collaborative efforts between the hard-working union employees and Alaska Airlines management," said Tim Cullen, Aircraft Mechanics Fraternal Association Local 14 president. "This performance-based pay represents not just a bonus from Alaska Airlines, but from the customers whom we serve through exceptional service and, above all for us, exceptional aircraft maintenance technicians." Bonuses in Alaska Air Group's Performance Based Pay Plan are determined by meeting specific company-wide goals for safety, customer satisfaction, cost control and profit that are approved annually by the board of directors. Annual bonuses have averaged 8 percent over the past four years, exceeding the plan's target payout of 5 percent.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV