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Tuesday, January 18, 2022

Delta Air Lines Will Pay Employees $ 1,250 Bonus In February Despite A Turbulent Year And 4Q Losses

Delta Air Lines plans to give each of its 75,000+ employees a $ 1,250 bonus next month, despite reporting losses in the fourth quarter after a tumultuous year amid a global pandemic and rising inflation.

The Atlanta-based airline reported on Thursday a net loss of $ 408 million in the last quarter of 2021, due in part to rising fuel prices and the rapid spread of the Omicron variant of the CCP (Chinese Communist Party) virus, which has affected employees and led to the cancellation of hundreds of flights during the Christmas period.

However, for the full year, Delta reported $ 280 million in profit for the first time in two years, backed by $ 4.5 billion in federal aid funding to keep the airline afloat during the pandemic.

As its CEO Ed Bastian, the company plans to offer a one-time profit share payment to all of its current employees as a thank you to its employees.

“2021 was an unrivaled year for Delta, with significant recovery progress, supported by growing brand preference, that made us the only major US airline to achieve profitability in the second half of the year,” Bastian said. “As always, this success was due to our people, so this morning we were delighted to announce a special profit share payment to all eligible employees.”

The airline will pay $ 1,250 to each employee who worked for the company in the second half of 2021, “in recognition of the fact that everyone has worked very hard during this very, very difficult year,” Bastian told Atlanta Journal Construction.

Employees are reported to receive payments on Valentine’s Day.

Elsewhere on Thursday, the airline noted that the Omicron option, which is easily transferable but far less dangerous than previous options, has impacted staffing levels. Bastian told CNBC’s Squawk Box after publishing quarterly results that nearly 8,000 Delta employees, roughly 1 in 10, have tested positive for the virus in the past four weeks.

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“Omicron, as I said, influenced all of us,” he said. “The good news is that [the infected employees] everything was fine. There weren’t any major health problems that we saw from him. But that knocked them out of work for a while, while we had the busiest ride we’ve seen in two years. So the merger of these two events could not have happened at the worst time. “

The company said the influence of Omicron is likely to continue to affect the company in the first quarter of this year, but it is confident that the situation will improve by the spring.

“While the fast-spreading omicron option has significantly impacted staffing levels and disrupted travel across the industry, Delta’s performance has stabilized over the past week and returned to pre-holiday performance,” Bastian said. “Omicron is expected to temporarily delay the recovery in demand by 60 days, but as we view the peak, we are confident in a strong spring and summer tourist season with significant unmet demand for consumer and business travel.”

Although roughly 98 percent of cases nationwide are currently associated with the Omicron variant, according to the Centers for Disease Control and Prevention (CDC), people who contract Omicron are far less likely to need hospitalization compared to previous variants like Delta, they say. experts, including researchers, studying COVID-19 hospitalizations in the Kaiser Permanente system in Southern California.

To follow

Katabella Roberts is a reporter currently based in Turkey. She covers news and business for The Epoch Times with a special focus on the United States.

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