VOL. 129 | NO. 73 | Tuesday, April 15, 2014
Southwest Says Profit-Sharing Nearly Doubles
DALLAS (AP) – Southwest Airlines says employees will get a record $228 million in profit-sharing this year, nearly double the payout of a year ago.
The airline said Monday that the payout is based on results from 2013, when net income hit a record $754 million.
Earnings and stock prices for airlines soared last year, and employees at some carriers are benefiting. Delta Air Lines Inc. said in February that it would pay $506 million in profit-sharing.
Dallas-based Southwest also owns AirTran Airways and is the nation's fourth-biggest airline operator. Employees own about 4 percent of Southwest's stock. The company has nearly 45,000 employees and is negotiating new contracts with its union workers.
Southwest's shares gained 84 percent in 2013 and began Monday up 21 percent in 2014.
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