Alaska Horizon (Horizon Air) is planning to resume Embraer 175 deliveries again in March 2018 according to Seattle Times. Deliveries were halted this past summer by outgoing CEO Dave Campbell due to a pilot shortage that has eased up. SkyWest Airlines filled the void for Alaska Airlines with their Embraer 175s.
The new Embraer 175s will gradually replace the Bombardier Q400 turboprops.
Horizon Air (Alaska Horizon) has announced it will end its operations in Alaska on March 10, 2017. The company operates three Q400s in support of Alaska Airlines in Alaska. Crews will be offered positions in the Lower 48.
Alaska Air Group, Inc., (Alaska Airlines and Horizon Air) (Seattle/Tacoma) today reported third quarter 2015 GAAP net income of $274 million, or $2.14 per diluted share, compared to $198 million, or $1.45 per diluted share in the third quarter of 2014. Excluding the impact of mark-to-market fuel hedge adjustments of $5 million ($3 million after tax, or $0.02 per diluted share), the company reported record adjusted net income of $277 million, or $2.16 per diluted share, compared to adjusted net income of $200 million, or $1.47 per diluted share in 2014.
“This was the busiest summer in our 83 year history and represents our highest quarterly profit ever,” said CEO Brad Tilden. “I want to thank our employees who are building a fundamentally strong business and our customers for their incredible loyalty and support.”
Copyright Photo: Michael B. Ing/AirlinersGallery.com. Alaska Airlines is gradually phasing out its aging Boeing 737-400s. The type is expected to be gone by the end of 2017. Boeing 737-4Q8 N755AS (msn 25096) arrives at Los Angeles International Airport.
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 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.”
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.