Delta Air Lines CEO Ed Bastion appeared on
CNBC to talk about profit sharing with employees and also penned an open letter
to government and community leaders about financial solvency.
Delta paid out $1.4 billion in profits to
employees who participated in the program.
In the letter, he called it
‘extraordinary.’
Bastion said the total amount for each
employee would be about 10 percent of their yearly salary.
“It’s something we do every
year on Valentine’s Day to demonstrate our gratitude and love for our people,
who serve our customers and ensure their safety and comfort every day,” he
wrote.
Since initiating the
profit-sharing program in 2007, Delta has paid its employees more than $11
billion.
“While we can’t solve the
problem for everyone, we wanted to help Delta employees achieve a level of
financial security by boosting their savings and financial wellness,” he added.
In an interview on
CNBC, he called it an important marker. Bastian is also excited
about the future.
“Travel is doing really
well,” he said. "We see (strong travel demand) going in a straight line
all the way through Labor Day."
He also said that business
travel appears to be strong again, with corporate bookings up 10 percent from
the fourth quarter of 2023 to the present. "We're pretty much back to the
overall volume we had pre-pandemic. I don't see any slowdown at all. I see
companies returning to the office.”
Realistically, he also
believes the Boeing 737 Max 10 will be delivered later than expected. The
planes were scheduled to be supplied to Delta in 2025, but the airplane
manufacturing company is clearly having difficulties right now.
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