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Alaska Air Group profits weaker in 4Q2011 and FY2011

27-Jan-2012 12:04 PM

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%;
  • 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%;

*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.