Alaska Air Group, Inc. today reported record fourth quarter 2010 net income of $64.8 million, or $1.75 per diluted share, compared to net income of $24.1 million, or $0.67 per diluted share, in the fourth quarter of 2009.
Excluding mark-to-market fuel hedge gains of $28.1 million ($17.4 million after tax or $0.47 per diluted share), the company reported record net income of $47.4 million, or $1.28 per diluted share, compared to net income of $4.4 million, or $0.12 per share, excluding special items in the fourth quarter of 2009.
The company reported full-year 2010 record net income of $251.1 million, compared to $121.6 million in 2009. Excluding the impact of the items noted in the table below, the company reported record net income of $262.6 million, or $7.14 per diluted share for 2010, a $173.9 million improvement from the $88.7 million, or $2.45 per diluted share, in 2009. This marks the company's seventh consecutive year of adjusted profits.
"We are very pleased to report record fourth-quarter and full-year profits. These results were driven by strong revenue growth, excellent cost management, an on-time operation, and promising new markets, " said Chairman and CEO Bill Ayer. "2010 was a record year in nearly every regard and reflects the efforts of the past decade as much as the last twelve months. At the heart of our results are 12,000 dedicated Alaska and Horizon employees. I want to thank them for being open to new ideas and working together to deliver outstanding customer service and operational performance. And though it's been difficult at times, because of our collective perseverance and the structural changes we've made, our future is as bright as it's ever been."
Today Alaska Airlines is also announcing an order for 15 new Boeing 737 aircraft to be delivered in 2012 through 2014, including 13 new B737-900ER (extended range) aircraft, which will be new to the Alaska fleet.
Excluding mark-to-market fuel hedge gains of $28.1 million ($17.4 million after tax or $0.47 per diluted share), the company reported record net income of $47.4 million, or $1.28 per diluted share, compared to net income of $4.4 million, or $0.12 per share, excluding special items in the fourth quarter of 2009.
The company reported full-year 2010 record net income of $251.1 million, compared to $121.6 million in 2009. Excluding the impact of the items noted in the table below, the company reported record net income of $262.6 million, or $7.14 per diluted share for 2010, a $173.9 million improvement from the $88.7 million, or $2.45 per diluted share, in 2009. This marks the company's seventh consecutive year of adjusted profits.
"We are very pleased to report record fourth-quarter and full-year profits. These results were driven by strong revenue growth, excellent cost management, an on-time operation, and promising new markets, " said Chairman and CEO Bill Ayer. "2010 was a record year in nearly every regard and reflects the efforts of the past decade as much as the last twelve months. At the heart of our results are 12,000 dedicated Alaska and Horizon employees. I want to thank them for being open to new ideas and working together to deliver outstanding customer service and operational performance. And though it's been difficult at times, because of our collective perseverance and the structural changes we've made, our future is as bright as it's ever been."
Today Alaska Airlines is also announcing an order for 15 new Boeing 737 aircraft to be delivered in 2012 through 2014, including 13 new B737-900ER (extended range) aircraft, which will be new to the Alaska fleet.
“The 737-900ER will be a great addition to our next generation Boeing 737 fleet. It will improve our already best-in-class rating for fuel-efficiency,” said Alaska Airlines President Brad Tilden. “Depending on the ultimate configuration, the larger 737-900ER will have between 21 and 27 seats more than our existing B737-800 aircraft and will be a perfect fit for our longer-haul and high traffic West Coast markets.”
Alaska Airlines current aircraft order;
Previous Order: 737-800 - 11 with deliveries planned for 3 (2011), 4 (2012), 2 (2013), 2 (2014).
Announced today: 737-800 - 3 with deliveries planned for 2 (2012), 1 (2013).
Announced today: 737-900/ER - 13 with deliveries planned for 6 (2013), 7 (2014).
(Alaska Airlines - Press Release)
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