Tag Archives: Boeing 737

NTSB blames the Southwest Airlines captain for his “failure to comply with standard operating procedures” for the July 22, 2013 hard landing at New York’s LaGuardia Airport

National Transportation Safety Board (NTSB) (Washington) has issued this statement and report on the July 22, 2013 hard landing of a Southwest Airlines Boeing 737-7H4 (N753SW) at New York’s LaGuardia Airport:

NTSB logo

The National Transportation Safety Board determined that the captain’s failed attempt to recover from an unstabilized approach by transferring airplane control at low altitude instead of performing a go-around, caused a hard landing at LaGuardia International Airport (LGA) in Queens, New York.

On July 22, 2013, a Boeing 737, operated as Southwest Airlines flight 345, landed hard, nose-first, on runway 4 at LGA. Of the 144 passengers and five crewmembers on board, eight sustained minor injuries and the airplane was substantially damaged.

Contributing to the accident was the captain’s failure to comply with standard operating procedures during the approach. NTSB found that the first officer was conducting the approach, and the captain took control away from the first officer, but not until the plane was 27 feet above the ground. This late transfer of control from the first officer to the captain resulted in neither pilot being able to effectively monitor the airplane’s altitude and pitch attitude. According to the Southwest Airlines Flight Operations Manual, the captain should have called for a go-around well before this point in the approach instead of trying to salvage the landing.

For example, Southwest’s stabilized approach criteria require an immediate go-around if the airplane flaps are not in the final landing configuration by 1,000 feet above the ground. In this case, the flaps were not correctly set until the airplane was 500 feet above the ground.

Read the full report: CLICK HERE

WestJet reports record second quarter net earnings

WestJet (Calgary) today announced its second quarter results for 2015, with net earnings of $61.6 million (all amounts in Canadian dollars) ($47.3 million US), or $0.49 per fully diluted share, as compared with the net earnings of $51.8 million, or $0.40 per fully diluted share reported in the second quarter of 2014.

The airline continued:

WestJet logo

WestJet achieved an on-time performance rate of 91.3 percent in the second quarter, a year-over-year improvement of 6.8 percentage points, placing WestJet as the top performing North American airline during the quarter. Based on the trailing twelve months, the airline achieved a return on invested capital of 16.0 per cent, up 0.2 percentage points from the 15.8 per cent reported in the previous quarter.

“I would like to congratulate our more than 10,000 WestJetters on these exceptional second quarter results which marked our 5th quarter of consecutive record adjusted net earnings,” said WestJet President and CEO Gregg Saretsky. “The second quarter is historically our most challenging quarter as capacity is transitioned from southern to domestic markets, so it is particularly rewarding to turn in a double digit margin this quarter. With another quarter of record earnings, and after having exceeded our ROIC target for 12 consecutive quarters, we are pleased to announce that we are increasing our target to 13 to 16 per cent, while continuing our commitment to our brand of friendly, caring service and affordable fares.”

WestJet 2Q15 Results Table

On July 27, 2015, WestJet’s Board of Directors declared a cash dividend of $0.14 per common voting share and variable voting share for the third quarter of 2015, to be paid on September 30, 2015, to shareholders of record on September 16, 2015. All dividends paid by WestJet are, pursuant to subsection 89(14) of the Income Tax Act, designated as eligible dividends, unless indicated otherwise. An eligible dividend paid to a Canadian resident is entitled to the enhanced dividend tax credit.

In other news, WestJet today announced it has begun rolling out its new inflight entertainment system featuring wireless Internet connectivity and more than 450 movies and television programs. Called WestJet Connect, the system will be activated on all of WestJet’s Boeing 767-300 ER aircraft and more than 30 percent of WestJet’s Boeing Next-Generation 737 aircraft by end of 2015, with installations on the majority of the 737 fleet expected to be completed in 2016.

Mobile devices and tablets using either iOS or Android operating systems will need the latest version of the WestJet app prior to boarding. Guests will also be able to access WestJet Connect using their laptops. Tablet rentals will be available on flights longer than three hours and 20 minutes for guests who do not have their own device. The WestJet app will take guests to the WestJet Connect home page where they can begin accessing content. Seats on WestJet Connect-equipped aircraft have 110-volt and/or USB power outlets, allowing guests the opportunity to charge or power their devices.

At launch, WestJet Connect will feature 85 movies and 329 TV programs, including expanded content in French. Content will be refreshed on a monthly basis and will be offered at no charge for an introductory period. The system’s Internet connectivity will be available at an introductory price of $7.99 plus applicable taxes for the duration of each flight.

Once installation is complete, WestJet Connect will be available on all WestJet flights operated on Boeing Next-Generation 737s or 767-300 ER aircraft.

Copyright Photo: TMK Photography/AirlinersGallery.com. WestJet Airlines’ Boeing 737-8CT WL C-GWSZ (msn 37092) in the special Walt Disney World – Magic Plane scheme arrives at Toronto (Pearson).

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WestJet increases nonstop service from Edmonton

WestJet (Calgary) today announced new nonstop service between Edmonton and Nanaimo, British Columbia, as well as more flights between Edmonton and Grande Prairie, Kelowna, Regina and Saskatoon.

WestJet 7.2015 new Edmonton flights

This winter, WestJet will fly nonstop from Edmonton to 26 destinations in Canada, the U.S., Mexico and the Caribbean including Orlando, Los Angeles, Palm Springs, Phoenix, Maui, Cabo San Lucas, Cancun, Mazatlan and Puerto Vallarta.

WestJet’s popular nonstop seasonal service between Edmonton and Maui begins on December 11, 2015, on board the airline’s Boeing 767-300 ER aircraft.

In other news, WestJet will also offer daily winter seasonal Boeing 767-300 ER service from Toronto (Pearson) to Montego Bay, Jamaica from December 5, 2015 through April 30, 2016 per Airline Route.

Copyright Photo: Ton Jochems/AirlinersGallery.com. Boeing 737-7CT C-GQWJ (msn 35505) with the special Tartan Tail taxies at the Calgary hub.

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Ryanair’s fiscal first quarter profit is up 25% to €245 million, load factor climbs to 92%

Ryanair (Dublin) today reported on its fiscal first quarter financial results. The company reported a first quarter net profit after taxes of €245 million ($271.1 million), up 25 percent from the same quarter a year ago.

Meanwhile Traffic grew 16 percent to 28 million passengers. The load factor climbed six percentage points to an astounding 92 percent.

Ryanair’s Michael O’Leary said:

“We are pleased to report strong growth in traffic and profits in Q1. Our mix of low fares, best on time performance (91% in Q1) and enhanced customer experience under our “Always Getting Better” (“AGB”) program, continues to attract millions of new customers. At the same time our focus on cost (Q1 unit costs fell 7%) enables us to pass on lower fares to customers. Q1 average fare fell 4% to just €45, due to the timing of Easter, weaker April yields and lower checked bag penetration as more families and business customers enjoy discounts on their luggage or benefit from our free 2nd carry-on bag policy.”

The airline continued:

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New Routes and Bases:

We continue to be inundated with growth offers from primary and secondary airports, whose incumbent carriers are cutting capacity and traffic. These new airports, along with our 72 existing bases offer significant growth opportunities as we embark on our new Boeing 737-800 program. This winter we take delivery of 31 aircraft which (net of lease returns), means our fleet will increase to 340 Boeing 737-800’s by year end.

In September we open our 6th German base in Berlin where we have a 5% share of the German market and expect to grow this strongly over the next 5 years. Gothenburg (our 2nd Swedish base) will also open in September. In November, Israel will become our 31st country served when we start flights to Eilat Ovda Airport from Budapest, Kaunas and Krakow.

Two weeks ago we decided, in the best interests of our customers and people, to close our 2 Danish bases in Copenhagen and Billund. This followed threats by the Danish Unions who admitted that they had no members among our Copenhagen pilots or cabin crew to get their members (competitor airline employees) to blockade/disrupt our flights. By moving the aircraft from Copenhagen and Billund to airports outside Denmark the unions have no legal basis for imposing these threatened disruptions, which allows us to continue to grow strongly in Copenhagen without union interference.

Customer Experience:

The year 2 rollout of AGB continues apace as we work to improve the travel experience of our millions of customers. In April we cut fees for sports equipment. In May we upgraded our mobile app to include improvements to the “My Ryanair” customer registration function which facilitates faster and easier booking of our low fares. We added Sabre as our 3rd GDS partner in June and in July we celebrated our 30th birthday with a 1m €19.85 seat sale.

We have also enhanced our Groups travel service with a dedicated groups page on http://www.ryanair.com. Ryanair joined Facebook in July, which provides another channel to communicate with, and listen to our customers. Ryanair’s campaign to “Keep Greece Flying”, under which we dropped prices on Greek domestic routes to just €4.99 one way while also cutting fares on international routes to/from Greece by 30% has been well received. Our on time performance leads the industry, and has further improved in Q1 despite the impact of the French ATC strikes, and the closure of T3 in Rome Fiumicino.

There is a lot more AGB development to come later this year, including a new personalised web site in October, new aircraft interiors, new crew uniforms and new bases.

Hedging:

Fuel is 90% hedged for FY16 at approx. $91 pbl and we have taken advantage of recent lower oil prices to increase our FY17 fuel hedging to 70% at an ave. rate of just under $66 pbl. This will deliver significant fuel bill savings in FY17 of up to €250m (based on current hedging). Our advantageous US$ CapEx hedging, along with our low cost eurobond financing, will help us to continue to purchase and operate aircraft at very low costs which further widens the cost advantage that Ryanair enjoys over all other EU airline competitors.

Balance Sheet:

Ryanair’s balance sheet remains one of the strongest in the industry. In Q1, despite CapEx of €324m and share buybacks of €195m, our net cash increased to over €550m (from €364m in March). We have completed almost 90% of our current €400m share buyback programme which when it closes in August, will mean we have returned almost €3bn to our shareholders via special dividends and share buybacks since 2008.

IAG – Aer Lingus:

On July 10, the Board of Ryanair voted unanimously to accept the IAG offer for Ryanair’s 29.8% stake in Aer Lingus. The timing of this sale is appropriate as our original plan for Aer Lingus (to use it as a mid-priced brand to offer competition at primary airports) has been overtaken by our AGB programme under which Ryanair has successfully entered many of Europe’s primary airports opening new routes and bases but offering competition and consumer choice. As the Ryanair brand develops and continues to grow strongly, the original rationale for acquiring Aer Lingus no longer exists. If the IAG offer is successful, then we would expect to receive these proceeds in mid/late September and the Board will consider our use of the proceeds around the time of our AGM.

We will continue to oppose the UK CMA’s baseless 2013 divestment ruling, (and their recent rejection of Ryanair’s request to review that decision), which was based on the invented theory that no other airline would bid for Aer Lingus while Ryanair was a minority shareholder. This has been hopelessly exposed by IAG’s current offer for Aer Lingus, even while Ryanair was its largest single shareholder.

Outlook:

Due to the exciting growth opportunities that exist for Ryanair’s low fares and AGB customer experience, as well as strong customer demand, we expanded our W15 business schedules which will increase our FY16 traffic target from 100m to 103m. This will be achieved through a combination of strong load factor (90%) and fewer winter groundings (approx. 40). Traffic should increase by 13% in H1 and slightly faster at 15% in H2.

Based on this Q1 performance and reasonable visibility into Q2 (which is heavily dependent on late bookings in Aug and Sept) we now believe that average fares for H1 will be broadly flat (previous guidance 0% to -2%). We have very little visibility into H2, during which we expect that our faster capacity growth (up 15%) and lower oil prices may lead to an aggressive pricing response from competitors who will try to defend their market shares. We therefore remain very cautious about weaker prices and yields this winter. Since Ryanair’s policy is to be load factor active/yield passive we expect that H2 fares will be towards the higher end of our -4% to –8% guidance range.

Our focus on unit cost continues and we expect that unit costs will fall by approx. 3% (aided by higher traffic). Fuel will deliver a saving of close to 7% and unit costs ex-fuel will be broadly flat. Ancillary revenue will be well ahead of our long term target of 20% of total revenue but will track behind the 14% growth in customer numbers in FY16.

We think it is too early in the year to alter our full year profit guidance, although the slightly better H1 yields will push it towards the upper end of our previously guided range of €940m to €970m net profit. We caution however that this guidance, which is 12% ahead of last year’s profit, is heavily reliant on the final outturn of H2 fares over which we currently have almost zero visibility. Ryanair will continue to pursue its strategy of being load factor active and yield passive for the benefit of our customers, our people and our shareholders.”

Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Boeing 737-8AS EI-DWX (msn 33630) lands at Tenerife Sur.

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Southwest’s flight attendants vote down the tentative agreement

Southwest Airlines‘ (Dallas) flight attendants have turned down the tentative contract by a large 87 percent margin. The airline issued this statement:

Southwest 2014 logo-1

Southwest Airlines (LUV) has announced that its Flight Attendants have voted down a tentative agreement that would have ended two years of negotiations. Representatives for Transport Workers Union (TWU) Local 556 say Flight Attendants rejected the deal by 87 percent of those casting ballots. Nearly 89 percent of eligible Flight Attendants voted.

“This agreement ensured that our Flight Attendants would stay atop the industry in pay and benefits,” said Randy Babbitt, Southwest Senior Vice President Labor Relations. “It improved the Company’s competitiveness with certain work-rule changes and supported our evolving network, both domestically and in international markets. So naturally we’re disappointed that it didn’t pass.”

The deal was slated to run through May 2019 and contained fixed wage increases, cash bonuses, and quality of life improvements. Southwest says it remains committed to reaching an agreement that best serves the interests of both the Company and its Flight Attendants.

“Knowing how volatile our industry can be, I can’t imagine a better time to secure an agreement,” said Vice President Cabin Services Mike Hafner. “But together we will find a way to move forward. Southwest Flight Attendants are the finest in the industry, and I am continuously proud of their consistent efforts and the caring service they provide our Customers.”

Southwest expects TWU leadership will take some time to evaluate the results prior to returning to direct bargaining. But for now, Southwest Flight Attendants will continue working under the terms of their current agreement, which became amendable May 31, 2013.

Copyright Photo: Tony Storck/AirlinersGallery.com. Boeing 737-76N N7718B (msn 32665) approaches the runway at Baltimore-Washington Thurgood Marshall International Airport (BWI).

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Southwest Airlines reports a record second quarter net profit

Southwest Airlines (Dallas) today reported a record second quarter GAAP net profit of $608 million.

The airline issued this statement:

Southwest 2014 logo-1

Southwest Airlines today reported its second quarter 2015 results:

  • Record quarterly net income, excluding special items1, of $691 million, or $1.03 per diluted share. This represented a $206 million increase from second quarter 2014 and exceeded the First Call consensus estimate of $1.02 per diluted share.
  • Record quarterly GAAP2 net income of $608 million, or $.90 per diluted share.
  • Record quarterly GAAP operating income of $1.1 billion. Excluding special items, record quarterly operating income of $1.1 billion, resulting in an operating margin3 of 22.5 percent.
  • Returned $430 million to Shareholders through dividends and share repurchases during second quarter 2015, and $811 million during first half 2015.
  • Return on invested capital, before taxes and excluding special items (ROIC)1, for the 12 months ended June 30, 2015, of 28.2 percent, compared with 17.1 percent for the 12 months ended June 30, 2014.
  • Subsequent to June 30, 2015, the Company amended and extended its co-branded credit card agreement with Chase Bank USA, N.A. (Chase), which is expected to provide generous rewards to the Company’s co-branded credit cardholders and significant future value to the Company’s Shareholders. The Company currently estimates its second half 2015 GAAP operating revenues will increase approximately $400 million from the combined impact of the amended agreement and the effect of a change in accounting methodology4.

Gary C. Kelly, Chairman of the Board, President, and Chief Executive Officer, stated, “We are delighted to report another strong quarter of earnings. Our net income, excluding special items, of $691 million, or $1.03 per diluted share, is an all-time quarterly high and represents our ninth consecutive quarter of record profits. Operating income, excluding special items, increased 40.2 percent year-over-year, producing a strong 22.5 percent operating margin. We significantly expanded our margins and generated very strong cash flows during first half 2015, allowing us to return $811 million to Shareholders through dividends and share repurchases so far this year. In addition, we intend to launch a $500 million accelerated share repurchase program soon. We have a solid investment grade balance sheet, and we are pleased with the recent upgrade to Baa1 by Moody’s. For first half 2015, our record profits have earned our outstanding Employees a record $308 million profitsharing accrual, nearly doubling first half 2014’s contribution. For the 12 months ended June 30, 2015, our ROIC was an outstanding 28.2 percent, far surpassing our cost of capital. Our 2015 results, thus far, are exceptional, and our current outlook for the second half of 2015 is also strong, laying a solid foundation to surpass 2014’s ROIC.

“Fuel savings5 in second quarter 2015 were nearly $500 million, which led to a reduction in our second quarter 2015 unit costs, excluding special items, of almost 12 percent year-over-year. Second quarter 2015 economic fuel costs were $2.02 per gallon, compared with $3.02 per gallon in second quarter 2014. Based on our existing fuel derivative contracts and market prices as of July 20, 2015, we expect significant year-over-year fuel savings again in third quarter 2015, with economic fuel costs currently estimated to be approximately $2.20 per gallon, as compared with third quarter 2014’s $2.94 per gallon.

“We also were very pleased with our overall cost performance. Our cost control efforts, ongoing fleet modernization, and improved aircraft utilization resulted in a 1.8 percent year-over-year decline in our second quarter 2015 unit costs, excluding fuel and oil expense, special items, and second quarter 2015’s record profitsharing expense of $182 million. Based on current cost trends, and excluding fuel and oil expense, special items, and profitsharing, we expect third quarter 2015 unit costs to decline approximately one percent and full year 2015 unit costs to decline approximately two percent, both compared with the same year-ago periods.

“Our second quarter 2015 operating unit revenue performance was impacted by challenging year-over-year comparisons, longer average stage length, higher average seats per trip (gauge), and a softer yield environment. Still, we grew second quarter 2015 operating revenues 2.0 percent to a record $5.1 billion on a year-over-year increase in available seat miles (ASMs) of 7.0 percent. Demand for our popular low fares remained strong throughout the quarter resulting in a record 84.6 percent load factor. Our second quarter 2015 unit revenues declined 4.7 percent, as expected, driven largely by the 5.4 percent decline in passenger revenue yields, both as compared with second quarter last year. The year-ago results included $47 million in additional passenger revenue due to a change to previously recorded estimates of tickets expected to spoil in the future, which impacted second quarter 2015 year-over-year unit revenue comparisons by approximately one percent. Another two to three percent of the second quarter 2015 year-over-year unit revenue decline was driven by a 4.6 percent increase in average stage length and a 2.4 percent increase in gauge, both as compared with second quarter 2014.

“We continue to be extremely pleased with our development markets in Dallas. They are remarkably strong, surpassing system average margins and returns. In April, we launched nine additional daily nonstop flights, bringing our total daily flights out of Love Field to 166. By August 2015, we are scheduled to operate 180 weekday departures to 50 nonstop destinations.

“Our international expansion is also progressing, as planned, and producing expected results. We began service to Puerto Vallarta (PVR) in June and announced daily service between PVR and Denver beginning in November 2015, pending foreign government approval. We are excited to begin service by the end of this year between eight international cities and Houston (Hobby), including inaugural service to Belize City, Belize in October 2015, and Liberia, Costa Rica in November 2015, both pending foreign government approvals.

“Earlier this month, we were delighted to amend and extend our long-standing partnership with Chase for our co-branded credit card agreement. Beginning in third quarter 2015 and continuing thereafter, we expect to realize significant revenue enhancements. Since we re-launched our award-winning frequent flyer program in 2011, we have nearly doubled the size of our program, in terms of membership, and grown our credit card program, proportionately.

“While some yield softness has continued into July, demand thus far remains strong. Based on current bookings and revenue trends, and including the estimated benefit to operating revenues from our amended co-branded credit card agreement, we are currently estimating third quarter 2015 unit revenues to decline a modest one percent from third quarter 2014. Taking into consideration the ongoing impact of increased stage and gauge, as well as 18 percent of our network under development in third quarter 2015, we are very pleased with our third quarter revenue outlook.

“Overall, our network performance is exceptional. For this year, we are growing our ASMs approximately seven percent, year-over-year. The annualized impact of our 2015 expansion is expected to contribute the majority of 2016’s year-over-year capacity growth. As we continue to optimize our network, we are currently planning to grow our total 2016 ASMs in the five to six percent range, year-over-year, with the goal to sustain strong margins and ROIC levels in line with 2015.”

Fleet

During second quarter 2015, the Company’s fleet increased by ten to 689 aircraft at period end. This reflects the second quarter delivery of six new Boeing 737-800s and five pre-owned Boeing 737-700s, as well as the retirement of one Boeing 737 Classic aircraft. The Company continues to manage to roughly 700 aircraft in 2015 and continues to expect to grow its net fleet approximately two percent, year-over-year, in 2016. As an extension of its fleet modernization initiatives, during second quarter 2015, the Company designated its 31 Boeing firm orders in 2016 as 737-800s rather than 737-700s and added 31 pre-owned 737-700 aircraft scheduled for delivery through 2018. In addition, subsequent to June 30, 2015, the Company canceled the 12 737NG options scheduled for delivery in 2016.

Additional information regarding these revisions to the Company’s aircraft delivery schedule is included in the accompanying table:

Southwest 7.2015 737s on order

Notes:

(1) A revenue passenger mile is one paying passenger flown one mile. Also referred to as “traffic,” which is a measure of demand for a given period.

(2) An available seat mile is one seat (empty or full) flown one mile. Also referred to as “capacity,” which is a measure of the space available to carry passengers in a given period.

(3) Revenue passenger miles divided by available seat miles.

(4) Seats flown is calculated using total number of seats available by aircraft type multiplied by the total trips flown by the same aircraft type during a particular period.

(5) Seats per trip is calculated using seats flown divided by trips flown. Also referred to as “gauge.”

(6) Calculated as passenger revenue divided by revenue passenger miles. Also referred to as “yield,” this is the average cost paid by a paying passenger to fly one mile, which is a measure of revenue production and fares.

(7) RASM (unit revenue) – Operating revenue yield per ASM, calculated as operating revenue divided by available seat miles. Also referred to as “operating unit revenues,” this is a measure of operating revenue production based on the total available seat miles flown during a particular period.

(8) PRASM (Passenger unit revenue) – Passenger revenue yield per ASM, calculated as passenger revenue divided by available seat miles. Also referred to as “passenger unit revenues,” this is a measure of passenger revenue production based on the total available seat miles flown during a particular period.

(9) CASM (unit costs) – Operating expenses per ASM, calculated as operating expenses divided by available seat miles. Also referred to as “unit costs” or “cost per available seat mile,” this is the average cost to fly an aircraft seat (empty or full) one mile, which is a measure of cost efficiencies.

(10) Aircraft in the Company’s fleet at period end, less Boeing 717-200s removed from service in preparation for transition out of the fleet.

Read the full report: CLICK HERE

Copyright Photo: Jay Selman/AirlinersGallery.com. Boeing 737-7H4 WL N909WN (msn 32458) with the special “Beats Music – Don’t miss a beat” markings arrives in Los Angeles.

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Alaska Air Group reports a record second quarter

Alaska Air Group (Alaska Airlines and Horizon Air) (Seattle/Tacoma) today reported a record second quarter GAAP net profit of $234 million.

The group issued this report:

Alaska (2014) logo

Alaska Air Group, Inc., today reported second quarter 2015 GAAP net income of $234 million, or $1.79 per diluted share, compared to $165 million, or $1.19 per diluted share in the second quarter of 2014. Excluding the impact of mark-to-market fuel hedge adjustments of $6 million ($4 million after tax, or $0.03 per diluted share), the company reported record adjusted net income of $230 million, or $1.76 per diluted share, compared to adjusted net income of $157 million, or $1.13 per diluted share, in 2014.

“We’re pleased to report our 25th consecutive quarterly profit and our best quarterly result ever,” said CEO Brad Tilden. “I want to thank our employees for their hard work and for always putting our customers first. We are focused on running a strong and balanced company that will produce the right outcomes for all of the stakeholders who depend on us, not just this quarter but over the long-term.”

Financial Highlights:

  • Reported record second quarter net income, excluding special items, of $230 million, a 46% increase over the second quarter of 2014.
  • Reported adjusted earnings per share of $1.76 per diluted share, a 56% increase over the second quarter of 2014 and ahead of First Call analyst consensus estimate of $1.73 per share.
  • Earned net income for the second quarter under Generally Accepted Accounting Principles (GAAP) of $234 million or $1.79 per diluted share, compared to net income of $165 million, or $1.19 per diluted share in 2014.
  • Recorded $58 million of employee incentive pay in recognition of Air Group employees’ progress on meeting customer service, safety, operational and financial goals.
  • Generated record adjusted pretax margin in the second quarter of 25.7% compared to 18.3% in 2014.
  • Generated 20.9% adjusted pretax margin for the trailing 12-month period ended June 30, 2015, compared to 14.9% for the same period in the prior year.
  • Achieved trailing 12-month after-tax return on invested capital of 22.0% compared to 16.1% in the 12-month period ended June 30, 2014.
  • Repurchased 2.5 million shares of common stock for $160 million in the second quarter of 2015, and 4.1 million shares of common stock for $262 million during the first six months of 2015, representing 3.1% of the total shares outstanding at the beginning of the year.
  • Paid a $0.20 per-share quarterly cash dividend on June 4, 2015, a 60% increase over the dividend paid in the second quarter of 2014.

Read the full report: CLICK HERE

Copyright Photo: Ken Petersen/AirlinersGallery.com. Alaska Airlines Boeing 737-990 ER N471AS (msn 41703) with APB Split Scimitar Winglets lands in Anchorage.

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