Alaska Posts 4Q Profit
01-28-2010, 08:20 AM
#1
Administrator
Thread Starter
Joined APC: May 2006
Position: C-172
Posts: 8,024
Alaska Posts 4Q Profit
Typos and such not mine. Anyway, I just want to know when the furloughed guys will be recalled. Making a profit when there are guys out on the street is unseemly to me.
From Associated Press:
Alaska Air Group Inc., operator of Alaska Airlines and Horizon Air, said more traffic and higher revenue helped it posted a $24.1 million fourth-quarter profit.
The company, based in Seattle, said Thursday its earnings for the final three months of 2009 amounted to 67 cents a share, compared to a loss of $75.2 million, or $2.08 a share, for the same period in 2008.
Without certain items, its profit came to 12 cents a share for the quarter.
Revenue in the quarter rose more than 2 percent to $846.1 million from $827.1 million a year earlier.
Analysts surveyed by Thomson Reuters expected adjusted fourth-quarter profit of 32 cents a share on revenue of $821.2 million.
Alaska Air Group reported full-year 2009 net income of $121.6 million, or $3.36 a share, compared to a net loss of $135.9 million, or $3.74 a share, in 2008. Twelve-month revenue fell to $3.40 billion from $3.66 billion in 2008.
The company spent $172.5 million on aircraft fuel, including hedging gains and losses, in the fourth quarter, less than half of the $358.8 million it spent in the same period of 2008.
Alaska Air is doing better financially than some of the bigger carriers because it does not have as much international exposure as them.
Chief Financial Officer Glenn Johnson told investors last month the company is remaining disciplined in terms of capacity, which is measured by the available seats an airline offers times the miles flown.
The parent company said at the time that Alaska Airlines' capacity is expected to increase 1 percent to 2 percent in 2010, while Horizon Air's will probably be flat.
Alaska Air has a partnership with Delta Air Lines, the world's biggest airline.
Alaska Airlines and Horizon Air serve more than 90 cities through their network in Alaska, Hawaii, the continental U.S., Canada and Mexico.
Earlier this month, Alaska Airlines lost a challenge of rival Virgin America's citizenship status. The Transportation Department said Virgin America, a privately held carrier based in Burlingame, Calif., is under the control of U.S. citizens. Foreign ownership in a U.S. air carrier is limited to 25 percent of the voting interest in the carrier.
The Virgin Group, controlled by British billionaire Richard Branson, is a minority holder in Virgin America. DOT said the Virgin Group has a 25 percent equity stake in Virgin America.
Alaska Air Group Inc., operator of Alaska Airlines and Horizon Air, said more traffic and higher revenue helped it posted a $24.1 million fourth-quarter profit.
The company, based in Seattle, said Thursday its earnings for the final three months of 2009 amounted to 67 cents a share, compared to a loss of $75.2 million, or $2.08 a share, for the same period in 2008.
Without certain items, its profit came to 12 cents a share for the quarter.
Revenue in the quarter rose more than 2 percent to $846.1 million from $827.1 million a year earlier.
Analysts surveyed by Thomson Reuters expected adjusted fourth-quarter profit of 32 cents a share on revenue of $821.2 million.
Alaska Air Group reported full-year 2009 net income of $121.6 million, or $3.36 a share, compared to a net loss of $135.9 million, or $3.74 a share, in 2008. Twelve-month revenue fell to $3.40 billion from $3.66 billion in 2008.
The company spent $172.5 million on aircraft fuel, including hedging gains and losses, in the fourth quarter, less than half of the $358.8 million it spent in the same period of 2008.
Alaska Air is doing better financially than some of the bigger carriers because it does not have as much international exposure as them.
Chief Financial Officer Glenn Johnson told investors last month the company is remaining disciplined in terms of capacity, which is measured by the available seats an airline offers times the miles flown.
The parent company said at the time that Alaska Airlines' capacity is expected to increase 1 percent to 2 percent in 2010, while Horizon Air's will probably be flat.
Alaska Air has a partnership with Delta Air Lines, the world's biggest airline.
Alaska Airlines and Horizon Air serve more than 90 cities through their network in Alaska, Hawaii, the continental U.S., Canada and Mexico.
Earlier this month, Alaska Airlines lost a challenge of rival Virgin America's citizenship status. The Transportation Department said Virgin America, a privately held carrier based in Burlingame, Calif., is under the control of U.S. citizens. Foreign ownership in a U.S. air carrier is limited to 25 percent of the voting interest in the carrier.
The Virgin Group, controlled by British billionaire Richard Branson, is a minority holder in Virgin America. DOT said the Virgin Group has a 25 percent equity stake in Virgin America.
01-28-2010, 08:49 AM
#2
Moderator
Joined APC: Oct 2006
Position: B757/767
Posts: 13,088
01-28-2010, 10:23 AM
#4
Keep Calm Chive ON
Joined APC: Feb 2008
Position: Boeing's Plastic Jet Button Pusher - 787
Posts: 2,086
[quote=vagabond;753024]Typos and such not mine. Anyway, I just want to know when the furloughed guys will be recalled. Making a profit when there are guys out on the street is unseemly to me.[/quote]
+1 at CAL....
.....4Q profit, and 147 still sit on the street.
Go figure.
+1 at CAL....
.....4Q profit, and 147 still sit on the street.
Go figure.
01-28-2010, 03:28 PM
#5
Gets Weekends Off
Joined APC: May 2006
Position: 737 FO
Posts: 466
Well, posting a good profit is the best and quickest way to get these guys back on property. I think the main bulk of the profits came from Hawaii flying and baggage fees. We flew 1.25 million less customers this year than last year. The north/south west coast flying which has the highest frequency is not being productive due to a fare war going on between VA, JBLU, SWA and Alaska. Transcons are not all that productive either. Until rates go up on these routes, I don't see frequency going up much to warrant a full recall. Hopefully this happens soon.
01-28-2010, 06:42 PM
#6
Gets Weekends Off
Joined APC: Jun 2007
Position: Legacy FO
Posts: 4,105
The boards and CEOs have a promise to the shareholders to turn a profit. Yes, in a fary tale world, they could give everyone a job and squander the profits. But that's not how it works.
I recall that you recently started up a coffee shop. It seems very unseemly to me that you haven't hired a couple of furloughed pilots to run your shop. I'm sure you could afford 20 or so to work there at an average salary of $120,000. Couldn't ya???
Why is it that people are willing to give away other's money -- but never their own. Kind of ironic isn't it? Or is it?
I feel for the pilots on furlough because nobody likes getting a pink slip. However, it's just business. If you don't like that, go work for yourself.
01-28-2010, 08:56 PM
#8
Gets Weekends Off
Joined APC: Oct 2008
Position: Taking up space
Posts: 262
01-28-2010, 09:19 PM
#9
Line Holder
Joined APC: Oct 2006
Position: Bob Marley on the tail
Posts: 36
How's Continental doing it? Is it with an ETOPS -700? I'd be surprised if it was any other type of 737.
01-28-2010, 09:24 PM
#10
Gets Weekends Off
Joined APC: Dec 2007
Position: On the aluminum Arctic snow sled
Posts: 127
I am sure they did look at the route though. It was mentioned over in flight ops the SNA-HNL was Aloha's most profitable route.
Thread
Thread Starter
Forum
Replies
Last Post
ArcticDog
Major
8
12-26-2008 09:08 AM
