Tag Archives: Horizon Air

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 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.

Alaska Airlines aircraft slide show:

Alaska Horizon aircraft slide show:

Alaska Airlines announces new regional flying from Los Angeles and Boise

Alaska Airlines (Seattle/Tacoma) today announced two new routes from Los Angeles, and one new route from Boise, Idaho. New daily roundtrip service between Los Angeles and Monterey, California; and Boise, Idaho and Reno, Nevada begin November 5. A new seasonal flight between Los Angeles and Gunnison/Crested Butte will shuttle skiers and snowboarders from California to Colorado starting in December.

The flights will be operated by Alaska’s sister carrier Horizon Air (Alaska Horizon) (Seattle/Tacoma), using the pictured 76-seat Bombardier DHC-8-402 (Q400) aircraft.

Alaska also announced today that it will upgauge its flights from Los Angeles to Loreto, Mexico, beginning November 1. The flights are currently operated daily, using 76-seat Bombardier Q400 aircraft. Beginning in November, they will be operated Thursday-Sunday using Boeing 737 jets, adding about 70 additional seats each week.

Copyright Photo: Ken Petersen/AirlinersGallery.com. Horizon Air, operating as Alaska Horizon, operates its Bombardier DHC-8-402 (Q400) turboprops from its Seattle hub and now in Alaska. Bombardier DHC-8-402 (Q400) N441QX (msn 4348) in the University of Alaska Nanooks (Fairbanks) departs from Ted Steven Anchorage International Airport (ANC).

Alaska Airlines aircraft slide show:

Alaska Horizon-Horizon Air aircraft slide show:

Alaska Airlines and WSU to team up on the use of wood residue biofuels

Alaska Airlines (Seattle/Tacoma) just made this announcement:

Washington state’s hometown airline is teaming up with the Washington State University-led Northwest Advanced Renewables Alliance (NARA) to advance the production and use of alternative jet fuel made from forest residuals, the tree limbs and branches that remain after a forest harvest.

As the airline partner for NARA, Alaska Airlines intends next year to fly a demonstration flight using 1,000 gallons of alternative biofuel being produced by the NARA team and its many partners. The planned flight signals a growing interest in the aviation industry for a viable alternative to conventional fossil fuel.

The project will use post-harvest forest residuals from the Pacific Northwest (above).

NARA’s focus is on developing alternative jet fuel derived from post-harvest forest residuals. Residual treetops and branches are often burned after timber harvest. By using these waste materials as the feedstock of a biojet fuel supply chain, NARA and its aviation industry partners, seek to reduce fossil fuel use and greenhouse gas emissions as well as bolster sustainable economic-development potential in timber-based rural communities located throughout the Pacific Northwest.

NARA is a five-year project supported by the U.S. Department of Agriculture, National Institute of Food and Agriculture, and is comprised of 22 member organizations from industry, academia and government laboratories. Its mission is to facilitate development of biojet and bioproduct industries in the Pacific Northwest using forest residuals that would otherwise become waste products. A key task of the project is to evaluate the economic, environmental and societal benefits and impacts associated with such developments.

In 2011 Alaska Airlines became the first U.S. airline to fly multiple commercial passenger flights using a biofuel refined from used cooking oil. The carrier flew 75 flights between Seattle and Washington, D.C. and Seattle and Portland. Alaska has set the ambitious goal of using a sustainable aviation biofuel blend on all flights departing one or more airports by 2020. Later this year, Alaska will fly the first ever commercial flight using an alcohol-to-jet fuel.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Horizon Air‘s Bombardier DHC-8-402 (Q400) N401QX (msn 4031) in the Washington State University (WSU) cougars livery taxies at the Seattle-Tacoma International Airport (SeaTac) hub.

Alaska Airlines aircraft slide show:

Alaska Horizon-Horizon Air aircraft slide show:

Horizon Air to operate nonstop Seattle/Tacoma – Helena flights

Alaska Airlines (Seattle/Tacoma) on August 23 is introducing Alaska Horizon (operated by subsidiary Horizon Air) Bombardier Q400 nonstop service from Seattle/Tacoma hub to Helena, Montana. The new route will operate on a daily basis according to Airline Route.

The airline currently serves Helena via a stop in Great Falls.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Alaska Horizon’s (Horizon Air) Bombardier DHC-8-402 (Q400) N443QX (msn 4353) in the special UAA Seawolves – University of Alaska Anchorage college livery taxies to the runway at the Seattle-Tacoma (SeaTac) International Airport (SEA) hub.

Alaska Horizon aircraft slide show:

Alaska Air Group reports record first quarter results

Alaska Air Group, Inc., (Alaska Airlines and Horizon Air) (Seattle/Tacoma) today reported first quarter 2015 GAAP net income of $149 million, or $1.12 per diluted share, compared to $94 million, or $0.68 per diluted share in the first quarter of 2014. Excluding the impact of mark-to-market fuel hedge adjustments, the company reported record adjusted net income of $149 million, or $1.12 per diluted share, compared to adjusted net income of $89 million, or $0.64 per diluted share, in 2014.

“Our record first quarter results reflect lower fuel prices, but more importantly the tremendous loyalty of our customers in Seattle and across our system” said CEO Brad Tilden. “It is gratifying to see such strong growth and financial results given unprecedented competition. I want to thank our incredible employees who continue to rise to the challenge and deliver outstanding experiences to our customers.”

Financial Highlights:

Reported record first quarter net income, excluding special items, of $149 million – a 67% increase over the first quarter of 2014.

Reported adjusted earnings per share of $1.12 per diluted share, a 75% increase over the first quarter of 2014 and ahead of First Call analyst consensus estimate of $1.10 per share.

Earned net income for the first quarter under Generally Accepted Accounting Principles (GAAP) of $149 million or $1.12 per diluted share, compared to net income of $94 million, or $0.68 per diluted share in 2014.

Recorded $26 million of employee incentive pay in recognition of Air Group employees’ progress on meeting customer service, safety, operational and financial goals.

Increased fuel efficiency (as measured by seat-miles per gallon) by 2.5% compared to the first quarter of 2014, as part of our effort to be the airline leader in environmental stewardship.

Generated record adjusted pretax margin in the first quarter of 18.9% compared to 11.8% in 2014.

Generated 18.8% adjusted pretax margin for the trailing 12-month period ended March 31, 2015, compared to 13.6% for the same period in the prior year.

Achieved trailing 12-month after-tax return on invested capital of 20.1% compared to 14.8% in the 12-month period ended March 31, 2014.

Repurchased 1.6 million shares of common stock for $102 million in the first quarter of 2015, representing 1.2% of the total shares outstanding at the beginning of the year.

Paid a $0.20 per-share quarterly cash dividend on March 10, 2015, a 60% increase over the dividend declared in the first quarter of 2014.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Alaska Airlines’ Boeing 737-890 N535AS (msn 35200) with Split Scimitar Winglets climbs away from Los Angeles International Airport.

Alaska Airlines aircraft slide show:

Alaska Horizon aircraft slide show:

Horizon Air aircraft slide show:

Alaska Airlines to fly from Boise to Spokane

Alaska Airlines (Seattle/Tacoma) will begin daily nonstop service between Boise, Idaho and Spokane, Washington, starting August 24, 2015.

With the addition of Spokane, Alaska Airlines now flies to eight destinations from Boise: Lewiston, Idaho, Portland, Oregon, Sacramento, Salt Lake City, San Diego, San Jose, California, Seattle/Tacoma and Spokane.

The new flight, which is just under 70 minutes, will be operated by Horizon Air (Alaska Horizon) (Seattle/Tacoma) for Alaska Airlines using 76-seat Bombardier DHC-8-402 (Q400) aircraft.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Alaska Horizon (Horizon Air) Bombardier DHC-8-402 (Q400) N422QX (msn 4150) climbs away from the runway at Seattle-Tacoma International Airport (SEA).

Alaska Airlines aircraft slide show:

Alaska Horizon aircraft slide show:

Alaska Airlines to take another look at flying to Everett after Snohomish County approves a Paine Field terminal

Alaska Airlines (Seattle/Tacoma) is taking another look at possibly serving Paine Field near Everett, Washington (north of Seattle) after the Snohomish County council approved the construction of a passenger terminal. Paine Field is also the home of Boeing’s 747/777/787 assembly plant.

The Snohomish County Council has approved a two-gate passenger terminal at PAE. The building will be leased to Propeller Airports (New York). The facility once built, could handle up to 23 flights a day according to KING 5.

Read the full report: CLICK HERE

Meanwhile Alaska Airlines is now taking a new look at PAE for possible service probably by Horizon Air (Alaska Horizon) following this vote according to Puget Sound Business Journal.

Read the full report: CLICK HERE

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Horizon Air (Alaska Horizon) Bombardier DHC-8-402 (Q400) N452QX (msn 4459) taxies to the runway at Seattle-Tacoma International Airport (SEA) in the special “Employee Powered” livery featuring the signatures of employees.

Alaska Airlines aircraft slide show:

Alaska Horizon aircraft slide show:

Alaska Air Group to reward its employees with a 9%+ bonus

Alaska Air Group (Alaska Airlines and Horizon Air) (Seattle/Tacoma) had a good financial year in 2014. The group is now rewarding its employees and has issued this statement:

Employees at Alaska Airlines and Horizon Air are receiving annual bonuses today of more than 9 percent of their annual pay, or more than five weeks’ pay for most workers. The bonus is in addition to the approximately $1,000 in 2014 monthly bonuses that most employees earned for achieving on-time and customer satisfaction goals.

The combined monthly and annual bonuses amounted to nearly $116 million, the highest in Alaska’s history, and are part of the company’s incentive-based pay program.

“We’re really excited to reward our employees for all the great work they’ve done this year,” said Tammy Young, Alaska Airlines’ vice president of human resources. “This is the sixth year in a row Alaska and Horizon employees have exceeded their payout targets for performance-based pay.”

Nearly $51 million in annual bonuses — 55 percent of the total — is being paid to nearly 6,000 Alaska and Horizon employees in the Puget Sound area. Another $12 million is being paid to 2,122 employees in the Portland, Oregon, area, while $9 million is going to workers throughout the state of Alaska.

Bonuses in Alaska Air Group’s Performance Based Pay Plan are determined by meeting specific company-wide goals for safety, customer satisfaction, cost control and profit that are approved annually by the board of directors. Since the inception of the program in 2003, Alaska has paid employees $624 million in combined incentive-based pay and monthly bonuses.

As part of its philosophy to provide employees with rewarding careers and good retirement benefits, Alaska Air Group has contributed $620 million over the past 6 years to its defined benefit pension plans, which were fully funded in 2013.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 737-990 ER N469AS (msn 41702) prepares to land in Anchorage.

Alaska Airlines aircraft slide show:

http://airlinersgallery.smugmug.com/Airlines-UnitedStates-1/Airlines-UnitedStates-1/Alaska-Airlines

Horizon Air converts two Bombardier Q400 options into firm orders

Horizon Air Industries, Inc. (Horizon Air) (Alaska Horizon) (Seattle/Tacoma) has converted two of seven previously acquired Bombardier DHC-8-402 (marketed as the Q400 NextGen) aircraft options to firm orders. The airline retains its options on another five Q400 NextGen aircraft. Horizon Air and its sister carrier, Alaska Airlines are subsidiaries of Alaska Air Group.

Horizon Air’s Q400 aircraft are equipped with Head-up Guidance Systems (HGS) for all-weather operations, Wide Area Augmentation Systems (WAAS) with approach guidance (LPV) for ILS-like landing minima at remote runways and RNP AR 0.1 to fly curved approaches to airports in difficult terrain.

Established in 1981, Horizon Air was acquired in 1986 by Alaska Air Group, Inc., the parent company of Alaska Airlines. At its start, the airline operated two aircraft and served three destinations in Washington state. Today, Horizon flies its 76-seat Q400 aircraft on behalf of Alaska Airlines and serves 43 cities in the western United States, Canada and Mexico. Horizon Air, which is also a codeshare partner of American Airlines and Delta Air Lines, operates both the longest (Seattle to Fresno, 748 miles/1,204 km) and shortest (Pullman to Lewiston, 26 miles/42 km) turboprop routes currently being served by regional carriers in the U.S.

In 2014, Bombardier and Horizon Air signed a five-year heavy maintenance agreement whereby Bombardier will perform heavy maintenance tasks for the airline’s fleet of Q400 aircraft at Bombardier’s service center in Tuscon, Arizona.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Bombardier DHC-8-402 (Q400) N448QX (msn 4409) arrives in Anchorage, Alaska.

Alaska Horizon aircraft slide show:

http://airlinersgallery.smugmug.com/Airlines-UnitedStates-1/Airlines-UnitedStates-1/Alaska-Horizon-Horizon-Air

Alaska Air Group reports 4Q GAAP net income of $148 million and $605 million for 2014, its best quarter/year ever

Alaska Air Group, Inc. (Alaska Airlines and Horizon Air) (Seattle/Tacoma) today reported fourth quarter 2014 GAAP net income of $148 million, or $1.11 per diluted share, compared to GAAP net income of $78 million, or $0.56 per diluted share in 2013. Excluding mark-to-market fuel hedge gains of $6 million ($4 million after tax, or $0.03 per diluted share), a benefit related to the curtailment of certain postretirement benefit plans and a one-time gain associated with the settlement of a legal matter for $30 million in aggregate ($19 million after tax, or $0.14 per diluted share), the company reported record fourth quarter 2014 net income of $125 million, or $0.94 per diluted share, compared to net income, excluding mark-to-market fuel hedge gains, of $77 million, or $0.55 per diluted share, in 2013.

The company reported full-year 2014 GAAP net income of $605 million, compared to $508 million in the prior year. Excluding the impact of the items noted in the table below, the company reported record net income of $571 million, or $4.18 per diluted share for 2014, compared to net income of $383 million, or $2.70 per diluted share in 2013.

This is a company record for earnings for the fourth quarter and any year.

Read the full report: CLICK HERE

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Alaska Airlines Boeing 737-890 N525AS (msn 35692) with Aviation Partners Boeing Split Scimitar Winglets climbs away from the runway at Los Angeles International Airport.

Alaska Airlines aircraft slide show:

http://airlinersgallery.smugmug.com/Airlines-UnitedStates-1/Airlines-UnitedStates-1/Alaska-Airlines