Alaska stems losses in Q1, buoyed by US government funds
Alaska Air Group lost $131m in Q1 2021, a significant improvement from the previous quarter thanks largely to pandemic-related US government aid. The Seattle-based company, parent to Alaska Airlines and Horizon Air, generated $797m in Q1 operating revenue, down by roughly half from Q1 2020. Its operating expenses were $958m, also down by half. Expenses would have been nearly $1.4b if not offset by $411m Alaska received from the US government via a payroll-support programme. The US government requires those funds pay airlines’ employee expenses. Alaska’s $131m net Q1 loss compares to a loss of $430m in the previous quarter and a $232m loss in Q1 2020. Alaska carried 4.7m passengers in Q1, about half the passenger carried in the same period of 2020.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-04-23/unaligned/alaska-stems-losses-in-q1-buoyed-by-us-government-funds
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Alaska stems losses in Q1, buoyed by US government funds
Alaska Air Group lost $131m in Q1 2021, a significant improvement from the previous quarter thanks largely to pandemic-related US government aid. The Seattle-based company, parent to Alaska Airlines and Horizon Air, generated $797m in Q1 operating revenue, down by roughly half from Q1 2020. Its operating expenses were $958m, also down by half. Expenses would have been nearly $1.4b if not offset by $411m Alaska received from the US government via a payroll-support programme. The US government requires those funds pay airlines’ employee expenses. Alaska’s $131m net Q1 loss compares to a loss of $430m in the previous quarter and a $232m loss in Q1 2020. Alaska carried 4.7m passengers in Q1, about half the passenger carried in the same period of 2020.<br/>
