Record profits for Alaska Air

Alaska Air Group, parent of Alaska Airlines and Horizon Air, has reported record third quarter net income of $122.4 million, up 39.7%. Chairman and CEO Bill Ayer credited “increased traffic, stable yields and good cost management through improved productivity and lower overhead” for the record growth. The airline group also confirmed it had repaid $115.5 million of its outstanding debt under the current $200 million prepayment plan. Group operating revenue rose 10.3% to $1.07 billion; expenses were up 5.4% to $851.1 million, with an operating profit of $216.4 million, up 35.4%. Alaska Airlines’ revenue rose 11.3% to $956.1 million, expenses