Alaska Air Group reports 1Q2010 profit

Net income excluding special items was $13.1 million, or $0.36 per diluted share, compared to a net loss excluding special items of $25.4 million, or $0. 70 per diluted share, in the first quarter of 2009, despite a $27.1 million increase in economic fuel costs. This compares to a First Call mean estimate of $0.35 per share. This is only the third time the company has posted a first quarter adjusted profit in 11 years - and the best since 1999.