Qantas Airlines, the trouble ridden Australian carrier announced this week that as many as 28,000 employees would be receiving a one-time bonus payment of about five percent of their annual base salary.
The airline has been struggling since 2011 when union lead labor strikes grounded its global fleet for two days. Since then the airline has focused on cost reductions to make the airline stronger amid a growing and emerging low cost carrier market that it competes with directly.
The Australian airline stated they were happy to announce on Friday reaching their planned savings of about A$875-Million completed in their planned financial year end savings. This is a huge reversal from the A$2.8-Billion loss in June of 2014 where the airline had frozen wages as part of a cost cutting measure.
With the dramatic turnaround the airline agreed to offer employees a one-time payout bonus which equaled out to about A$90-Million. Staff on Qantas’s management bonus program won’t be eligible for the new bonus, the company said in its statement.