Southwest employees get six-week bonus from profit-sharing
Eligible Southwest Airlines employees will get a bonus in March equivalent to about six weeks of pay, thanks to the airline's profit-sharing program.
The company said it will spend a total of $667 million on the incentive this year, up from $544 million in 2019.
That sum includes money from the airline's settlement with Boeing over its grounded 737 MAX fleet.
Sign up for the free daily TPG newsletter for more airline news.
"Our employees delivered outstanding results despite a challenging year, and it's a pleasure to reward our people for all they contribute to our continued success," Gary Kelly, Southwest's CEO, said in a statement. "We recognize their resolve, persistence, resilience, and devotion to each other, our customers, and our cause."
For comparison, Delta Air Lines announced last month that it would contribute $1.6 billion, or about two months' pay, to eligible employees on Valentine's Day. American Airlines will spend $213 million on its profit-sharing program this year, and United Airlines will pay out about $491 million.
Southwest has offered profit-sharing to its employees for 46 years. The airline said it was the first carrier to create such a program.
TPG featured card
at Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app