Chicago – United Continental Holdings, Inc. (NYSE: UAL) tomorrow will distribute $265 million in profit sharing to employees based on the combined full-year financial results of its subsidiaries, United Airlines and Continental Airlines.
The company is paying eligible employees approximately 5 percent of their annual pay for profit sharing.
“My co-workers worked together all year to deliver solid financial results, reliable operational performance and excellent customer service,” said Jeff Smisek, United Continental Holdings’ President and CEO. “We are sharing the results of working together by distributing more than a quarter of a billion dollars in profit sharing.”
Smisek will deliver profit-sharing checks to employees tomorrow at the airline’s hubs at Bush Intercontinental Airport in Houston and O’Hare International Airport in Chicago.
Other officers of the company are traveling to locations around the globe to distribute profit sharing to employees.
In addition to profit sharing, co-workers of the combined company earned cash incentive payments for on-time performance totaling $40 million during 2011. The on-time incentive program pays up to $100 monthly when the combined airline hits targets for on-time domestic and international arrivals. The program reinforces the new United’s commitment to working together to deliver outstanding performance for its customers.
About United Continental Holdings, Inc.
United Continental Holdings, Inc. (NYSE: UAL) is the holding company for both United Airlines and Continental Airlines. Together with United Express, Continental Express and Continental Connection, these airlines operate an average of 5,656 flights a day to 376 airports on six continents from their hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles, New York/Newark Liberty, San Francisco, Tokyo and Washington, D.C. United and Continental are members of Star Alliance, which offers more than 21,000 daily flights to 1,290 airports in 189 countries. United and Continental’s more than 80,000 employees reside in every U.S. state and in many countries around the world. For more information about United Continental Holdings, Inc., go to UnitedContinentalHoldings.com. For more information about the airlines, see united.com and continental.com or follow United on Twitter and Facebook