Alaska Air Group Reports Record Second Quarter Results

SEATTLE — Alaska Air Group, Inc. (NYSE: ALK) today reported second quarter 2012 GAAP net income of $67.5 million, or $0.93 per diluted share, compared to GAAP net income of $28.8 million, or $0.39 per diluted share in 2011. Excluding the impact of mark-to-market fuel hedge adjustments of $69.6 million ($43.3 million after tax, or $0.60 per diluted share), the company reported record second quarter 2012 net income of $110.8 million, or $1.53 per diluted share, compared to net income excluding special items of $89.6 million, or $1.22 per diluted share, in 2011:

“Significantly higher revenues driven by strong demand, our growing route network and our preferred product led to a record second quarter profit,” CEO Brad Tilden said. “Our people are doing a terrific job, and I want to thank them for running a safe operation, taking great care of our customers and producing these excellent results.”