Alaska Air Group has a profitable 4Q and 2010, orders 13 737-900 ERs

Alaska Air Group (Alaska Airlines and Horizon Air) (Seattle/Tacoma) reported record fourth quarter 2010 net income of $64.8 million, or $1.75 per diluted share, compared to net income of $24.1 million, or $0.67 per diluted share, in the fourth quarter of 2009. Excluding mark-to-market fuel hedge gains of $28.1 million ($17.4 million after tax or $0.47 per diluted share), the company reported record net income of $47.4 million, or $1.28 per diluted share, compared to net income of $4.4 million, or $0.12 per share, excluding special items in the fourth quarter of 2009.

The company reported full-year 2010 record net income of $251.1 million, compared to $121.6 million in 2009. Excluding the impact of the items noted in the table below, the company reported record net income of $262.6 million, or $7.14 per diluted share for 2010, a $173.9 million improvement from the $88.7 million, or $2.45 per diluted share, in 2009. This marks the company’s seventh consecutive year of adjusted profits.

Alaska Airlines is also announcing an order for 15 new Boeing 737 aircraft to be delivered in 2012 through 2014, including 13 new 737-900 ER (extended range) aircraft, which will be new to the Alaska fleet.

Copyright Photo: Nick Dean. Please click on the photo for aircraft details.