Alaska Air Group has a successful first quarter

Alaska Air Group Inc. (Seattle/Tacoma), the holding company of Alaska Airlines and Horizon Air, today (April 21) reported first quarter 2011 net income of $74.2 million, or $2.01 per diluted share, compared to net income of $5.3 million, or $0.15 per diluted share, in the first quarter of 2010. Excluding mark-to-market fuel hedge gains of $82.0 million ($51.0 million after tax, or $1.38 per diluted share) and CRJ700 fleet transition costs of $10.1 million ($6.3 million after tax, or $0.17 per diluted share), the company reported record first quarter 2011 net income of $29.5 million, or $0.80 per diluted share, compared to net income of $13.1 million, or $0.36 per diluted share, excluding special items, in the first quarter of 2010.

Copyright Photo: Michael B. Ing. Please click on the photo for additional details.