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.

Reviving Keynes
blog comments powered by Disqus