Alaska Air's 3Q profit more than doubles
SEATTLE (AP) — Alaska Airlines' parent company more than doubled third-quarter profit as traffic grew and planes were fuller than last summer.
Alaska Air Group Inc. said Thursday that net income rose to $163.4 million, or $2.27 per share, compared with $77.5 million, or $1.06 per share, a year earlier.
Without an accounting gain from fuel hedging, the company would have earned $2.09 per share, matching the forecast of analysts surveyed by FactSet.
Revenue climbed 6 percent to $1.27 billion from $1.2 billion. Passenger traffic grew 7 percent and the average flight was 87 percent full.
Airlines have boosted profits by limiting flights, which cuts costs, while pushing up the price of tickets.