nonfirm
Posts: 426
Joined: Mon Sep 12, 2005 3:04 pm

As And Qx In The Black Again

Fri Oct 21, 2005 7:49 am

Alaska Air Group today reported third quarter net income of $90.2 million, compared to $74 million the airline reported in the third quarter of 2004. Adjusting for the impact of certain unusual items, the airline's net income would have been $71.5 million for the third quarter, up 41 percent from the $50.7 million reported for the same period a year ago.

Among the unusual items impacting the comparability of the 2005 and 2004 third quarters were mark-to-market fuel hedge accounting adjustments, refunds of navigation fees and restructuring activities.

“These numbers show that the hard work of our employees is paying off,” said CEO Bill Ayer. “Our continued progress on the earnings front, combined with an improving operation, give us confidence that we are on the right track.”

Alaska Airlines
Alaska Airlines’ passenger traffic in the third quarter increased 0.6 percent on a capacity decrease of 3.2 percent. Alaska’s load factor increased 3 percentage points to 79 percent compared to the same period in 2004. Alaska’s operating revenue per available seat mile (ASM) increased 12.4 percent, while its operating cost per ASM excluding fuel, navigation fee refund and restructuring charges increased 2.4 percent. Alaska’s pretax income for the quarter was $133 million, compared to $97.9 million in the same period of 2004. Excluding the notable items referenced above, Alaska’s pretax income was $106 million for the quarter, compared to $64.1 million in the third quarter of 2004.

Horizon Air
Horizon Air’s passenger traffic in the third quarter increased 13.6 percent on a 9.8 percent capacity increase. Horizon’s load factor increased by 2.6 percentage points to 75 percent compared to the same period in 2004. Horizon’s operating revenue per ASM increased 0.5 percent and its operating cost per ASM excluding fuel increased 1.3 percent. Horizon’s pretax income for the quarter was $17.3 million, compared to $24.4 million in the third quarter of 2004. Excluding the notable items referenced above, Horizon’s pretax income was $14.4 million for the quarter, compared to $17.5 million in the same period in 2004.

Alaska Air Group had cash and short-term investments at Sept. 30, 2005, of approximately $746 million, compared to $874 million at Dec. 31, 2004.
 
S12PPL
Posts: 3603
Joined: Wed Mar 17, 2004 5:26 am

RE: As And Qx In The Black Again

Fri Oct 21, 2005 8:03 am

Awesome! Nice to see AAG back in black!
Next Flights: 12/31 AS804 PDX-MCO 2/3 AS19 MCO-SEA QX2545 SEA-PDX
 
wedgetail737
Posts: 3649
Joined: Mon Aug 04, 2003 8:44 am

RE: As And Qx In The Black Again

Fri Oct 21, 2005 11:12 am

That's good that two of our favorite west coast airlines are pulling profits now.