{"id":4684,"date":"2020-02-18T06:00:00","date_gmt":"2020-02-18T11:00:00","guid":{"rendered":"https:\/\/doctoraviation.com\/?p=4684"},"modified":"2020-02-17T19:40:39","modified_gmt":"2020-02-18T00:40:39","slug":"delta-profit-sharing-results-in-big-bonus","status":"publish","type":"post","link":"https:\/\/doctoraviation.com\/delta-profit-sharing-results-in-big-bonus\/","title":{"rendered":"Delta Profit Sharing Results in Big Bonus"},"content":{"rendered":"\n<p>Profit Sharing at airlines has become the norm in the past ten\nyears.&nbsp; Delta Airlines profit sharing\nresults in a big bonus this year.&nbsp; These\nare the details<\/p>\n\n\n\n<p>On Valentines Day, Delta Airline employees received news\nthat they would be splitting 1.6 billion dollars in profit sharing.&nbsp; Since the airline employs 90,000 individuals,\nthis comes out to the equivalent of an additional two months of pay for every employee.&nbsp; <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is Profit Sharing<\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/doctoraviation.com\/wp-content\/uploads\/2020\/02\/delta-takeoff-e1581814293613.jpg\" alt=\"\" class=\"wp-image-4679\" width=\"249\" height=\"166\"\/><\/figure><\/div>\n\n\n\n<p>The decade following 9\/11 was a difficult one for the airlines.\u00a0 The number of flights was cut as the flying public was skittish about taking to the air.\u00a0 Hundreds of airline pilots, including several of my friends, were furloughed for multiple years.\u00a0 Add to this reality the change in the mandatory retirement age for pilots from age 60 to age 65 and the airlines had, effectively, no captain retirements for five years.\u00a0 Fuel prices tended to climb during the decade as well, eating into airline profits.<\/p>\n\n\n\n<p>Meanwhile, the unionized airline employees (including pilots and maintenance workers) continued, as always, to push for higher wages and more job security.\u00a0 The unions and management reached a somewhat risky (for the unions) settlement.\u00a0 Wages would go up, if profits went up.\u00a0 In return for less of a guaranteed hourly wage increase, employees would get a percentage of the profits that the company made.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The Story at Delta<\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/doctoraviation.com\/wp-content\/uploads\/2020\/02\/46370830694_1b94816e95_b-e1581814281844.jpg\" alt=\"\" class=\"wp-image-4678\" width=\"179\" height=\"119\"\/><figcaption>Profit Sharing 2019<\/figcaption><\/figure><\/div>\n\n\n\n<p>Delta began paying out the profit sharing in 2010.&nbsp; Since 2016, the profit sharing has exceeded\none billion, with a b, dollars every year.&nbsp;\nThe total of 1.6 billion for 2019 was paid out on Valentines Day\n2020.&nbsp; Valentines Day has become the\ntraditional payout date and has brought a new kind of \u201clove\u201d at Delta the past\nfive years.&nbsp; This years\u2019 total was the second\nhighest (percentage wise) in history.&nbsp; <\/p>\n\n\n\n<p>The 16.6% cash payout equated to around two months of pay for the average employee.&nbsp; For a pilot making $200,000 per year that comes to over $33,000.&nbsp; Those kinds of bonuses have pilots at the other major carriers, United and American, <a href=\"https:\/\/onemileatatime.com\/delta-profit-sharing\/\">green with envy<\/a>.&nbsp; <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Two Closing Thoughts<\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/doctoraviation.com\/wp-content\/uploads\/2020\/02\/Overhead-bin-e1581814374101.jpg\" alt=\"\" class=\"wp-image-4683\" width=\"182\" height=\"136\"\/><\/figure><\/div>\n\n\n\n<p>During the hard times at the airlines, the carriers had to find\nways to stay in the black.&nbsp; So, they\nadded fees for items one would expect to travel with on a trip: suitcases.&nbsp; I am still galled by the fact that I must pay\n$25 (minimum) for a bag on Delta Airlines.&nbsp;\nCan you imagine catching a taxi or a bus and having to pay to bring your\nsuitcase.&nbsp; Somehow customers\nacquiesced.&nbsp; Now that the hard times are\nover and profits are in the billions, Mr. Delta could you please fly my bag for\nno charge?&nbsp; If for no other reason that I\nhave to stand in the aisle and watch a 70 year old lady and everyone else on\nthe plane try to lift their carry on into the overhead bin.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/doctoraviation.com\/wp-content\/uploads\/2020\/02\/incentives-1024x682.jpg\" alt=\"\" class=\"wp-image-4681\" width=\"233\" height=\"155\"\/><\/figure><\/div>\n\n\n\n<p>Finally, as economist <a href=\"https:\/\/www.linkedin.com\/in\/jeff-haymond-923873b\/\">Jeff Haymond<\/a>, and others, have repeatedly pointed out:&nbsp; Incentives matter.&nbsp; When workers are given incentives to perform in a way that helps the organization and they get rewarded accordingly, performance improves.&nbsp; That is the fatal flaw with socialism, which is being touted by so many politicians.&nbsp; Under socialism, all pilots would get paid the same, regardless of performance.&nbsp; So, what is the incentive to perform well in a socialistic system?&nbsp; There is none.<\/p>\n\n\n\n<p>Delta Airlines has proved, beyond a shadow of a doubt that incentives matter.&nbsp; Question: Do you want a high performing pilot or a mediocre one?&nbsp; Incentives help all of us.<\/p>\n\n\n\n<p>For a picture of how Delta celebrated with a A321 aircraft see the following <a href=\"https:\/\/thepointsguy.com\/news\/delta-air-lines-thank-you-livery-airbus-a321-profit-sharing\/\">story<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/doctoraviation.com\/wp-content\/uploads\/2020\/02\/Interior_of_Delta_Air_Lines_Airbus_A321-1024x768.jpg\" alt=\"\" class=\"wp-image-4682\"\/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Profit Sharing at airlines has become the norm in the past ten years.&nbsp; Delta Airlines profit sharing results in a big bonus this year.&nbsp; These are the details On Valentines Day, Delta Airline employees received news that they would be splitting 1.6 billion dollars in profit sharing.&nbsp; Since the airline employs 90,000 individuals, this comes [&hellip;]<\/p>\n","protected":false},"author":338,"featured_media":4680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[24],"tags":[1125,1123,1121,1124,1122],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Delta Profit Sharing Results in Big Bonus - Doctor Aviation<\/title>\n<meta name=\"description\" content=\"Profit Sharing at airlines has become the norm in the past ten years. 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