27-Jan-2012 12:04 PM
Alaska Air Group profits weaker in 4Q2011 and FY2011
Alaska Air Group revenue up 9% - financial highlights for 4Q2011:
- Three months ended 31-Dec-2011:
- Operating revenue: USD1044 million, +9.0% year-on-year;
- Operating costs: USD930.2 million, +10.8%;
- Fuel*: USD285.6 million, +31.2%;
- Labour: USD253.3 million, +4.8%;
- Operating profit: USD114.1 million, -4.4%;
- Net profit: USD64.0 million, -1.2%;
- Passenger numbers: 6.1 million, +4.1%;
- Load factor: 84.7%, +1.8 ppt;
- Yield: USD 15.47 cents, +3.3%;
- Passenger revenue per ASM: USD 13.11 cents, +5.6%;
- Cost per ASM excel fuel and fleet transition costs: USD 8.83 cents, -0.1%;
- 12 months ended 31-Dec-2011:
- Operating revenue: USD4318 million, +12.7%;
- Operating costs: USD3869 million, +15.1%;
- Fuel: USD1298 million, +44.0%;
- Labour: USD990.5 million, +3.1%;
- Operating profit: USD448.9 million, -4.8%;
- Net profit: USD244.5 million, -2.6%;
- Passenger numbers: 24.8 million, +6.2%;
- Load factor: 84.5%, +2.1 ppts;
- Yield: USD 15.78 cents, +3.3%;
- Passenger revenue per ASM: USD 13.33 cents, +6.0%;
- Cost per ASM excl fuel and fleet transition costs: USD 8.55 cents, -3.1%;
- Total assets: USD5195 million, +3.6%;
- Cash and marketable securities: USD1141 million, -5.6%;
- Total liabilities: USD4028 million, +3.0%;
- 1Q2012 forecast:
- Capacity (ASMs): +3.5%;
- Mainline: 3.5%;
- Cost per ASM excl fuel and special items: USD 8.87 cents to USD 8.92 cents, +1%;
- Mainline: +1% to +1.5%;
- Capacity (ASMs): +3.5%;
- FY2012 forecast:
- Capacity: +6%;
- Mainline: +6%;
- Cost per ASM excl fuel and special items: USD 8.40 cents to USD 8.45 cents, -1.5%;
- Mainline: USD 7.50 cents to USD 7.55 cents, -1%. [more - original PR]
- Capacity: +6%;
*Including hedging gains and losses
Alaska Air Group: "We are pleased to report record adjusted earnings for the second year in a row. The improvement was due to schedule optimization and network expansion, high load factors, lower non-fuel unit costs," Bill Ayer, chairman and CEO. Source: Alaska Air Group, 26-Jan-2012.