Alaska Air Group (NYSE: ALK ) announced today that it paid $88 million in bonuses to its 13,000 employees in 2012. The amount equates to approximately one month's additional pay and is equivalent to 28% of the airline's 2012 net income.
"We're pleased to share the company's financial success with our amazing employees at Alaska Airlines and Horizon Air," said CEO Brad Tilden in a statement today. "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."
Alaska Airlines has received numerous awards for its timeliness and customer service, and the company's sales have increased 27% over the past five years. In the same period, its shares have grown an astounding 428%, compared with the Dow Jones U.S. Airlines Index's 49% return.
In a rare instance of union-airline agreement, Aircraft Mechanics Fraternal Association Local 14 President Tim Cullen notedm "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."