AP News

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.


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