Yesterday, we wrote about the record-breaking profit for Emirates in 2022-23. Emirates simultaneously declared a profit-sharing plan for their employees across the globe, which offers them (approximately) 6-months of pay.
Emirates’ Generous profit sharing plan
Emirates has worked with a profit-sharing plan for a long time now. How it works at Emirates is that if the airline hits a certain number, the airline announces a PSP (profit-sharing plan). This is not a given and changes from year to year. For instance, in 2017-18, there were five weeks of pay given out as a part of the profit sharing, but in 2018-19, when the profits dipped, and a disappointing set of results came out, Emirates even froze wages. During the pandemic, many people were let go by the airline.
So, the current profit share has been one coming after a few difficult years, and the people in the airline are all largely happy and surprised with the generous bonus they received this year.
The email from the Chairman and CEO of Emirates, Ahmed bin Saeed Al Maktoum, congratulates the employees on their hard work and tells them to spend or save as they wish.
This is overall great news to read, and I feel great that Emirates, which is riding the high post-pandemic, is not just rewarding its shareholders but also its employees, who have worked tirelessly to make Emirates the experiential brand it is today. No doubt this will not be the norm every year, but with rising fares, who knows? Other airlines need to know that the bar has been set very high now.
What do you make of Emirates’ extremely generous profit-sharing plan for their employees?
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