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Alaska Air Group 2Q profit slips 53.9 pct
By HARRY R. WEBER AP Airlines Writer © 2009 The Associated Press
July 23, 2009, 6:46AM
ATLANTA — Alaska Air Group Inc., operator of Alaska Airlines and Horizon Air, said Thursday its second-quarter profit plunged 53.9 percent to $29.1 million as sales slipped 9.3 percent.
The Seattle-based company's profit for the April-June quarter was equivalent to 79 cents a share, compared to a year-ago profit of $63.1 million, or $1.74 a share.
Excluding one-time items, profit was 72 cents a share.
Revenue fell to $843.9 million from $930.8 million a year earlier.
Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, expected profit of 53 cents a share on revenue of $808.4 million.
The company has suffered from the same demand drop faced by other carriers due to the economy. But it is largely a domestic carrier, and it isn't as exposed to the large decline in international traffic that other major carriers are dealing with.
June traffic and capacity fell at its Alaska Airlines subsidiary compared with the same month last year.
Alaska Airlines flew 1.64 billion revenue passenger miles last month, a 2.6 percent drop from the 1.69 billion revenue passenger miles it flew in June 2008. Capacity fell 4.1 percent to 2.04 billion available seat miles from 2.12 billion available seat miles. Load factor, or occupancy, rose 1.2 percentage points to 80.7 percent from 79.5 percent.
At Horizon Air, June traffic fell 9.2 percent to 226 million revenue passenger miles from 248 million, while available seat miles fell 10.8 percent to 284 million from 319 million and load factor rose 1.4 percentage points to 79.4 percent from 78 percent.
Together, Alaska Airlines and Horizon Air serve more than 90 cities through their network in Alaska, Hawaii, the continental U.S., Canada and Mexico. Last November, Alaska Air Group signed an expanded marketing alliance with Atlanta-based Delta Air Lines Inc., the world's biggest airline operator.
Alaska Air Group reported a profit for the first six months of the year of $9.9 million, or 27 cents a share, compared to a profit of $25.8 million, or 70 cents a share, in the same period a year ago. Six-month revenue fell to $1.59 billion, compared to $1.77 billion a year earlier.
By HARRY R. WEBER AP Airlines Writer © 2009 The Associated Press
July 23, 2009, 6:46AM
ATLANTA — Alaska Air Group Inc., operator of Alaska Airlines and Horizon Air, said Thursday its second-quarter profit plunged 53.9 percent to $29.1 million as sales slipped 9.3 percent.
The Seattle-based company's profit for the April-June quarter was equivalent to 79 cents a share, compared to a year-ago profit of $63.1 million, or $1.74 a share.
Excluding one-time items, profit was 72 cents a share.
Revenue fell to $843.9 million from $930.8 million a year earlier.
Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, expected profit of 53 cents a share on revenue of $808.4 million.
The company has suffered from the same demand drop faced by other carriers due to the economy. But it is largely a domestic carrier, and it isn't as exposed to the large decline in international traffic that other major carriers are dealing with.
June traffic and capacity fell at its Alaska Airlines subsidiary compared with the same month last year.
Alaska Airlines flew 1.64 billion revenue passenger miles last month, a 2.6 percent drop from the 1.69 billion revenue passenger miles it flew in June 2008. Capacity fell 4.1 percent to 2.04 billion available seat miles from 2.12 billion available seat miles. Load factor, or occupancy, rose 1.2 percentage points to 80.7 percent from 79.5 percent.
At Horizon Air, June traffic fell 9.2 percent to 226 million revenue passenger miles from 248 million, while available seat miles fell 10.8 percent to 284 million from 319 million and load factor rose 1.4 percentage points to 79.4 percent from 78 percent.
Together, Alaska Airlines and Horizon Air serve more than 90 cities through their network in Alaska, Hawaii, the continental U.S., Canada and Mexico. Last November, Alaska Air Group signed an expanded marketing alliance with Atlanta-based Delta Air Lines Inc., the world's biggest airline operator.
Alaska Air Group reported a profit for the first six months of the year of $9.9 million, or 27 cents a share, compared to a profit of $25.8 million, or 70 cents a share, in the same period a year ago. Six-month revenue fell to $1.59 billion, compared to $1.77 billion a year earlier.
