Alaska Air Group reports Q1 2016 results

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By admin April 22, 2016 18:11

Alaska Air Group reports Q1 2016 results

Alaska Air Group has reported record first quarter net income, excluding special items, of $183 million, a 23% increase over the first quarter of 2015. Adjusted diluted earnings per share of $1.45 was a 29% increase over the first quarter of 2015. This quarter’s results exceed First Call analyst consensus estimate of $1.42 per share.

“We are proud to report record first quarter results,” said CEO Brad Tilden. “These results are due to the efforts of employees at Alaska and Horizon who share a common sense of mission and a focus on low fares, operational reliability, and delivering a level of genuine and caring service that sets us apart. We see many of these same qualities in Virgin America, and we’re very excited about our proposed combination. We are looking forward to the integration process and are confident that our team has what it takes to build the premier airline for people living on the West Coast.”

During the quarter, Alaska Airlines grew passenger revenues by 4% compared to the first quarter of 2015 and achieved return on invested capital of 25.6% for the twelve-month period ending March 31, 2016, compared to 20.1% for the twelve-month period ending March 31, 2015. The airline lowered its adjusted debt-to-capitalization ratio to 26% as of March 31, 2016.
The biggest announcement this quarter was made on April 4, 2016, when it agreed to acquire the outstanding common stock of Virgin America for $2.6 billion in cash. The transaction is expected to close late this year or early 2017, pending Virgin America shareholder and regulatory approval.

admin
By admin April 22, 2016 18:11