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Alaska Air employees in Alaska will get $8M in bonuses Friday

  • Author: Annie Zak
  • Updated: May 31, 2016
  • Published January 21, 2016

Alaska Air Group just finished up one of its best financial years ever.

The Seattle-based company will pay out $98 million in annual bonuses to its nearly 15,000 employees at Alaska Airlines and Horizon Air on Friday. Of that, the company's 1,825 employees in Alaska will get $8 million.

Combined with monthly bonuses for employees, the company will pay a record $120 million in bonuses this year.

The company also isn't expecting to take much of a hit from dropping oil production in Alaska.

Joe Sprague, senior vice president of communications, said during a conference call on Thursday that the company gets business from flying into Prudhoe Bay and taking oil workers in and out of the state, and it isn't expecting that traffic to drop significantly.

"I would say it's fairly stable," he said. "A lot of the oil field production workers, although production is declining, those oil fields still require the same amount of workers to sort of operate the drills and the pipelines and so forth, and so it's actually very stable business."

Sprague also said because Alaska tourism grew in 2015 and is set to grow again this year, the company could see stable demand across the state in 2016.

Alaska Air reported a net income of $191 million in the fourth quarter of 2015, compared with $148 million during the same time period in 2014. For all of 2015, the company netted $848 million, compared to $605 million for 2014.