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UPDATE 1-Alaska Air swings to profit, revenue up
April 22, 2010 / 12:37 PM / 8 years ago

UPDATE 1-Alaska Air swings to profit, revenue up

* $829 mln revenue outpaces analyst estimates

* Per-share income in line with expectations

WASHINGTON, April 22 (Reuters) - Alaska Air Group Inc (ALK.N) outpaced Wall Street revenue estimates and met per-share expectations on Thursday as it swung to a rare quarterly profit in the year’s traditionally weakest period.

The parent of Alaska Airlines and regional carrier Horizon Air reported $829.9 million in operating revenues on the strength of rebounding demand, capacity controls, and stronger pricing power. That result bested average analyst estimates of $816.4 million, according to Thomson Reuters I/B/E/S.

Excluding fuel hedge losses, the company reported first-quarter earnings of $13.1 million, or 36 cents per share, compared with a net loss, excluding special items, of $25.4 million, or 70 cents per share in the year-earlier period.

Analysts had estimated per-share income of 35 cents. (Reporting by John Crawley, editing by Gerald E. McCormick)

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