Alaska Air Group earns US$256m in Q3; on pace for record year
Alaska Air Group posted Q3 2016 net income of US$256m, down 6.6% from a net profit of $274m in the 2015 September quarter. The year-over-year profit decline can be attributed to $22m in one-time costs related to Alaska’s proposed merger with Virgin America, which remains the subject of antitrust talks. Without the merger costs, Alaska’s profit would be slightly up year-over-year. Chairman and CE Brad Tilden said that “2016 is shaping up to be a year of record profitability” for Alaska, predicting that the company’s full-year net income will top its record 2015 net profit of $848m. Alaska’s Q3 revenue rose 3% year-over-year to $1.6b while expenses increased 8% to $1.2b, producing an operating profit of $400m, down 8% from $433m in operating income in the prior-year period. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-10-21/unaligned/alaska-air-group-earns-us-256m-in-q3-on-pace-for-record-year
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Alaska Air Group earns US$256m in Q3; on pace for record year
Alaska Air Group posted Q3 2016 net income of US$256m, down 6.6% from a net profit of $274m in the 2015 September quarter. The year-over-year profit decline can be attributed to $22m in one-time costs related to Alaska’s proposed merger with Virgin America, which remains the subject of antitrust talks. Without the merger costs, Alaska’s profit would be slightly up year-over-year. Chairman and CE Brad Tilden said that “2016 is shaping up to be a year of record profitability” for Alaska, predicting that the company’s full-year net income will top its record 2015 net profit of $848m. Alaska’s Q3 revenue rose 3% year-over-year to $1.6b while expenses increased 8% to $1.2b, producing an operating profit of $400m, down 8% from $433m in operating income in the prior-year period. <br/>
