Alaska Q3 net income down 19%; slows growth to offset higher costs
Alaska Air Group experienced a drop in net income for Q3 in a row, as the company struggled to generate enough revenues to offset higher fuel costs. The group reported net income of US$217m for Q3, down 19% from the $259m reported in the year-earlier period. Revenue came in 4% higher year-over-year at $2.21b. Alaska CE Bradley Tilden said he is “not satisfied with our current financial returns,” and that the company is working to respond to a higher fuel price environment, while continuing to adjust following its merger with Virgin America. He added the company is on track to pay down $800m or 40% of debt it took on during the merger by year’s end. Tilden said one way the airline has recovered costs is by raising its bag fee for the first time in 5 years. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-10-29/unaligned/alaska-q3-net-income-down-19-slows-growth-to-offset-higher-costs
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Alaska Q3 net income down 19%; slows growth to offset higher costs
Alaska Air Group experienced a drop in net income for Q3 in a row, as the company struggled to generate enough revenues to offset higher fuel costs. The group reported net income of US$217m for Q3, down 19% from the $259m reported in the year-earlier period. Revenue came in 4% higher year-over-year at $2.21b. Alaska CE Bradley Tilden said he is “not satisfied with our current financial returns,” and that the company is working to respond to a higher fuel price environment, while continuing to adjust following its merger with Virgin America. He added the company is on track to pay down $800m or 40% of debt it took on during the merger by year’s end. Tilden said one way the airline has recovered costs is by raising its bag fee for the first time in 5 years. <br/>
