Alaska Air Group reports second best first quarter result in its history in 1Q2012

Alaska Air Group revenue up 8% - financial highlights for three months ended 31-Mar-2012:

• Revenue: USD1039 million, +7.7% year-on-year;
• Total operating costs: USD966.9 million, +16.3%;
  • Fuel: USD318.8 million, +63.9%;
  • Labour: USD256.6 million, +2.9%;
• Operating profit: USD72.4 million, -45.9%;
• Net profit: USD40.8 million, -45.0%;
• Passenger numbers: 6.0 million, +4.2%
• Load factor: 84.9%, +2.6 ppts;
• Yield: USD 15.25 cents, +1.5%;
• Passenger revenue per ASM: USD 12.94 cents, +4.7%;
• Cost per ASM excl fuel and fleet transition costs: USD 8.82 cents, +0.1%.
• Total assets: USD5382 million, +3.6% when compared to period ended 31-Dec-2011;
• Cash and marketable securities: USD1141 million, stable when compared to period ended 31-Dec-2011;
• Total liabilities: USD4164 million, +3.5% when compared to period ended 31-Dec-2011. [more - original PR]

Alaska Air Group: "We are very pleased to report a solid profit - the second-best first quarter result in our history - in what is seasonally our weakest quarter. Changes to our network and new markets led to a significant improvement in revenues, which helped offset rising fuel prices. These results provide a strong footing for the rest of the year," Brad Tilden, CEO-elect. Source: Alaska Air Group, 19-Apr-2012.