Alaska Air posts higher quarterly profit

April 25 Fri Apr 25, 2014 8:54am EDT

April 25 (Reuters) - Alaska Air Group on Friday reported a higher-than-expected first-quarter profit, aided by lower fuel costs and higher airfares.

The Seattle-based parent of Alaska Airlines said net income in the quarter more than doubled to $94 million, or $1.35 a share, from $37 million, or 51 cents a share, a year earlier.

Excluding fuel-hedge adjustments, profit was $1.28 a share, compared with $1.24 expected by analysts on average, according to Thomson Reuters I/B/E/S.

Quarterly revenue rose 8 percent to $1.22 billion. Operating expenses rose 1 percent but fuel costs fell 6 percent. Yield, a measure of the average fare, rose 2.2 percent to 14.7 cents.

(Reporting by Karen Jacobs in Atlanta, Editing by Franklin Paul)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.