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Alaska Air Group reports first quarter 2018 results

Alaska Airlines Boeing 737-990 ER SSWL N265AK (msn 62682) (Honoring Those Who Serve) LAX (Michael B. Ing). Image: 941100.

Alaska Airlines Group has made this announcement:

Financial Highlights:

  • Reported net income for the first quarter under Generally Accepted Accounting Principles (GAAP) of $4 million, or $0.03 per diluted share, compared to net income of $93 million, or $0.75 per diluted share in the first quarter of 2017. As the company has recently implemented new accounting standards, including the standards relating to revenue recognition and retirement benefits, 2017 financial information has been adjusted.
  • Reported first quarter 2018 adjusted diluted earnings per share of $0.14 compared to $0.99reported in the first quarter of 2017. First quarter adjusted net income excluding special items such as merger-related costs, an employee bonus awarded in connection with the Tax Cuts and Jobs Act, and mark-to-market fuel hedge accounting adjustments was $18 million, compared to $124 million in the first quarter of 2017. This quarter’s adjusted results compare to the First Call analyst consensus estimate of $0.12 per share.
  • Paid a $0.32 per-share quarterly cash dividend in the first quarter, a 7% increase over the dividend paid in the first quarter of 2017.
  • Repurchased a total of 185,661 shares of common stock for approximately $12 million in the first three months of 2018.
  • Generated approximately $310 million of operating cash flow and used approximately $235 millionfor capital expenditures, resulting in approximately $75 million of free cash flow for the first three months of 2018.
  • Held $1.5 billion in unrestricted cash and marketable securities as of March 31, 2018.

Operational Highlights:

  • Obtained a single operating certificate (SOC) from the Federal Aviation Administration (FAA) for Alaska Airlines and Virgin America, our most significant integration milestone to date. The SOC recognizes Alaska and Virgin America as one airline.
  • Reached an agreement in early April 2018 with mainline flight attendants that includes a merger transition plan and a two-year extension from December 2019 to December 2021. The agreement provides pay increases and paves the way to fully align nearly 5,700 mainline flight attendants under a single agreement.
  • Expanded our codeshare partnerships with Japan Airlines, Fiji Airways, Cathay Pacific and Finnair.
  • Began installation of next-generation Gogo satellite-based Wi-Fi in the first quarter of 2018, which will provide guests a faster internet connection across the Boeing and Airbus fleets.
  • Added one Boeing 737-900ER aircraft and two Airbus A321neo aircraft to the mainline operating fleet in the first quarter of 2018. Added one Embraer 175 (E175) regional jet to Horizon Air’s fleet in the first quarter of 2018 and added two E175 aircraft operated by SkyWest Airlines.

Alaska Air Group, Inc., on April 23, 2018 reported first quarter 2018 GAAP net income of $4 million, or $0.03 per diluted share, compared to $93 million, or $0.75 per diluted share in the first quarter of 2017. Excluding the impact of certain noted items, the company reported adjusted net income of $18 million, or $0.14 per diluted share, compared to $124 million, or $0.99 per diluted share, in 2017.

 

Copyright Photo: Alaska Airlines Boeing 737-990 ER SSWL N265AK (msn 62682) (Honoring Those Who Serve) LAX (Michael B. Ing). Image: 941100.

 

Alaska Airlines aircraft slide show (current livery):

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Alaska Airlines to fly the only nonstop flight from Seattle/Tacoma to Pittsburgh

Alaska Airlines Boeing 737-990 ER WL N265AK (msn 62682) (Honoring Those Who Serve) BWI (Brian McDonough). Image: 937282.

Alaska Airlines on November 15, 2017 announced it will add nonstop, daily service between Seattle/Tacoma and Pittsburgh next fall. This new service is currently the only nonstop flight offered from Seattle-Tacoma International Airport to Pittsburgh International Airport. The new route provides a link from the West Coast to the thriving business community in Pittsburgh, which is continuing to grow as more technology companies look to establish a presence in the city.

Alaska Airlines to fly nonstop to Pittsburgh from Seattle

 

Summary of new service:
Start Date City pair Departs Arrives Frequency Aircraft
Sept. 6 Seattle-Pittsburgh 8:25 a.m. 4:10 p.m. Daily B737
Sept. 6 Pittsburgh-Seattle 5:20 p.m. 7:50 p.m. Daily B737
Flight times based on local time zones.

Copyright Photo: Alaska Airlines Boeing 737-990 ER WL N265AK (msn 62682) (Honoring Those Who Serve) BWI (Brian McDonough). Image: 937282.

Alaska Airlines unveils its new “Honoring Those Who Serve” veterans logo jet

Alaska Airlines unveils its new "Honoring Those Who Serve" veterans logo jet

Alaska Airlines has introduced a new logo jet honoring the country’s veterans. The airline also made this announcement:

Alaska Airlines is flying 23 military veterans and their guardians from the state of Alaska to Washington, D.C., to view their war memorials. Veterans on today’s Honor Flight fought in World War II, and the Korean and Vietnam Wars.

Veterans from Anchorage, Ketchikan and Fort Yukon will be treated to a four-night, five-day trip, courtesy of Alaska Airlines and the Last Frontier Honor Flight. From Anchorage, the group will connect in Portland, Oregon, before continuing on to Washington Reagan National Airport.

This is the second Honor Flight departing the state of Alaska this year. Since 2012, Alaska Airlines has donated over $250,000 in free air travel and discounted companion travel to the Last Frontier Honor Flight program. Alaska Airlines is the only airline to operate Honor Flights for veterans in the state of Alaska and also operates Honor Flights for veterans in Washington and Oregon.

Veterans will return to a hero’s welcome on Saturday, Oct. 22 at the Ted Stevens Anchorage International Airport. A public reception is scheduled for 12:30 p.m. Alaska time at the airport near TSA before security.

Honor Flight Network is a national organization working to transport America’s veterans to visit their war memorials in Washington, D.C.

On October 26, 2016 Alaska Airlines issued this statement about this new patriotic them logo jet:

In anticipation of Veterans Day, Alaska Airlines today unveiled the newest aircraft in its fleet featuring a patriotic special paint theme titled “Honoring Those Who Serve.” The 737-900ER is dedicated to the brave men and women of the U.S. military, as well as veterans of the armed forces and their families. Its unique exterior paint scheme, conceived by a small group of Alaska maintenance technicians, was designed to symbolize remembrance, pride, and appreciation.

More than 250 airline employees were joined by veterans and current members of the military for a special dedication of the airplane in Alaska’s Seattle maintenance hangar on October 26, 2016. In the days leading up to Veterans Day, the plane will fly to cities near military bases, including Anchorage and Fairbanks, Alaska; San Diego, and Washington D.C.

About the new plane

What first started as an idea on a napkin with a small group of passionate Alaska maintenance employees three years ago, has now become a tribute in the sky.

The key elements of the design include:

  • A red stripe and blue body of the aircraft incorporate elements of the American flag.
  • The phrase “Honoring Those Who Serve,” boldly displayed on the fuselage as a symbol of remembrance, pride and appreciation.
  • A symbolic crest representing the Alaska Airlines Fallen Soldier Program to the right of the cargo door. The program ensures a fallen soldiers remains are treated with respect and dignity while being transported on company aircraft.
  • An “Alaska Airlines Salutes” medallion, featured on the right of the boarding door, near the nose of the aircraft. The medallion has five stars representing the five branches of the U.S. Armed Forces: Air Force, Army, Navy, Marine Corps and Coast Guard.
  • A President Calvin Coolidge quote to the left of the rear cargo door reads, “No person was ever honored for what they received. Honor has been the reward for what they gave.”
    The special livery was created in partnership with Boeing, which shares an appreciation for the value that military personnel bring to the workplace. The companies collaborated throughout the painting and delivery process.

Copyright Photo: Alaska Airlines Boeing 737-990 ER WL N265AK (msn 62682) (Honoring Those Who Serve) BFI (Joe G. Walker). Image: 935223.

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