Leap day is reason for celebration this year for Alaska Air Group’s 12,800 employees. Today is the day the airline is paying out bonuses totaling $53.8 million.
For the average employee that means a bonus of about 6.7 percent of their annual pay, about three weeks’ pay for most workers. The bonus payments are tied to the company’s meeting its operational and financial goals.
That one-time bonus is in addition to the more than $1,000 in periodic bonuses each employee earned in the last year when the company exceeded its goals for customer satisfaction and on-time performance.
Combined with the $53.8 million, the total Alaska Air Group bonuses totaled nearly $72 million, said the airline holding company.
Alaska Air Group, based in SeaTac, is the parent company of Alaska Airlines and regional carrier Horizon Air.
Of the bonus total, $33 million, or 61 percent, is being paid to Alaska Airlines and Horizon Air employees in the Puget Sound area. The two airlines employ 6,300 workers in the Puget Sound area.
Don’t expect those employees all to go on a buying spree with their windfall cash.
The airline holding company recently asked employees what their top choices were for the bonus money.
At the top of the list was paying bills followed by taking a vacation, saving, home improvement and giving to charity.