"They Deserve It": Emirates Are Making So Much Money That They're Giving Employees Five Months' Extra Salary
To reward the employees' efforts, the CEO of Emirates has decided to give an extra bonus equivalent to 20 weeks' salary, and this isn't the first time they've received such a bonus.
The labor and financial markets are facing turbulent times, with companies and employees struggling to find the balance between remote work and returning to the office. Many companies are implementing plans to cut costs, such as salary reductions and layoffs.
Despite these challenges, the Emirates Group has just announced a 71% increase in its annual profits, totalling around $5 billion. The large majority of these profits come from Emirate's aviation division, which is a 65% increase from last year.
According to an internal email accessed by Reuters, these profits have allowed Sheikh Ahmed bin Saeed Al Maktoum, the Chairman and CEO of Emirates, to announce that part of these profits will be shared with all employees. The company will pay out an extra bonus to its employees that is the equivalent to five months' salary (20 weeks).
Sources from The National indicate that the bonus will be included in the next paycheck for Emirates' 112,406 employees across 84 countries, who have seen a 10% increase in their numbers over the past year.
Emirates is looking to further expand its workforce by hiring thousands of cabin crew, pilots, engineers, customer service agents, and IT workers to solidify the company's economic recovery after the operational halt caused by the global pandemic. The company has not only regained its operational capacity but has increased it by 20% over the past two years. "The business outlook is positive, and we expect strong customer demand for air transport and travel in the coming months," said the CEO of Emirates in a press release.
The Washington Post highlighted the precarious working conditions of airline crew members in general, and the pressures these employees face from their employers. In contrast, Emirates appears to be taking a completely different approach, recognizing the efforts of its staff.
Speaking to the local Khaleej Times, Ahmed bin Saeed Al Maktoum praised the employees for their "heroic efforts to drive our collective ambitions and achieve them, they deserve every dirham of the 20-week bonus share."
The Dubai-based media outlet reported anonymous comments from some employees who expressed satisfaction with the decision to share the profits among the staff. "I am very happy. It's less than last year, but a bonus is a bonus. The company doesn't have to give it. But they did, and it's a significant amount. I'm very pleased about it." Last year's bonus was 24 weeks' salary, awarded for setting a new profit record.