Alaska Airlines reports third quarter earnings

Alaska Air Group, parent of Alaska Airlines and Horizon Air, has reported a 6% decline in total revenue declined to $1,465 million in 3Q14, which was due to a special item recorded in 3Q13. Passenger revenue increased by 6.9% during the third quarter, primarily due to an increase in traffic or revenue passenger miles (or RPM), which grew by 7.5% thanks to an 8% increase in available seat miles. Load factor dipped by 0.5%, however. Alaska’s unit cost decreased by 2.2% to 11.99 cents in 3Q14. Alaska’s operating margin reduced from 30.2% in 3Q13 to 21.6% in 3Q14, but its