
Employees at Continental Airlines have started seeing some cash as the carrier wings its way toward potential profits.
That the Houston carrier is rewarding workers for better performance is an indication that things are finally looking up in what has been a beleaguered industry in recent years.
Continental workers were told Thursday they're getting a $100 bonus for coming in first in on-time performance in September, but they could have finished second or third and still been in the money. The employees several weeks ago received $65 bonuses for the airline's third-place finish in August. That was their first on-time payout since the bonus program was expanded in June. Previously, the carrier was giving the $100 bonus only if the airline was in first place.
Workers also could get even more money if the carrier turns a profit this year, since Continental promised increased profit-sharing if they agreed to big concessions last year.
The reason is that Houston-based Continental, which just last year won about $500 million in cuts from employees, has broadened this bonus program.
Another plus for employees has come in the form of stock-option gains. Continental issued nearly 10 million stock options to employees in 2005 and 2006. With the shares trading at $30, the value of those securities is up $150 million, according to Continental.
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