Showing some love on Valentine's Day, Delta Air Lines Inc. (DAL) - Get Delta Air Lines, Inc. Report said Thursday that it was paying out $1.3 billion to its 80,000 employees in profit sharing, the second-largest profit-sharing pool in the company's history.
This is the fifth consecutive year that the Atlanta-based airline's profit sharing exceeded $1 billion, the company said in a statement. In 2016, the company paid out $1.5 billion in profits to employees for the airline's performance in 2015.
Each Delta employee gets a bonus equal to 14% of their annual pay. The payout is formulated from Delta's 2018 pretax income of $5.2 billion.
"The Delta team continues to deliver outstanding results in 2018, with unmatched reliability and customer service," Delta's CEO Ed Bastian said in a statement.
In addition, Delta said it was introducing a paid day of service for all of its employees to volunteer. Starting April 1, Delta employees will be paid when they volunteer with a 501(c)(3) or international nonprofit organization of their choice. The airline said that the program is expected to put up to 640,000 additional hours of service into communities.
Under the airline's community profit-sharing program, which was introduced in 2016, Delta will commit to giving 1% of its net profits to key charitable organizations. In 2018, the airline said, this resulted in more $50 million in community giving.
Shares of Delta were up slightly to $50.42 a share on Thursday.