Alaska Airlines, Horizon Air announce new service charge for first checked bag with guarantee
First Quarter Financial Highlights:
- Net loss, excluding special items, of
- A net loss under Generally Accepted Accounting Principles (GAAP) of
SEATTLE , April 23 /PRNewswire-FirstCall/ -- Alaska Air Group, Inc. (NYSE: ALK) today reported a first quarter 2009 net loss of
The following table summarizes the company's net loss and amounts per share during the first quarter of 2009 and 2008 excluding adjustments to reflect the timing of gain or loss recognition resulting from mark-to-market fuel-hedge accounting as reported in accordance with GAAP (in millions except per-share amounts):
"While our first quarter financial results improved over last year due to a significant decline in fuel cost, we're disappointed to report a loss for the quarter. To minimize the impact of the steep decline in air travel demand, we have reduced our schedules, reallocated capacity and taken fare actions," said Bill Ayer , Alaska Air Group's chairman and chief executive officer. "We are responding to the continued economic uncertainty by maintaining a healthy level of liquidity, retiming some capital expenditures, controlling costs, reducing capacity and actively pursuing revenue opportunities."
Alaska Airlines' mainline passenger traffic in the first quarter declined 7.7 percent on a 9.3 percent capacity decrease, compared to the first quarter of 2008. Load factor increased 1.3 percentage points to 75.7 percent. Alaska's mainline passenger revenue per available seat mile (ASM) decreased 2.0 percent and its operating cost per ASM, excluding fuel and the mark-to-market fuel hedge gains, increased 11.3 percent. Alaska's total pretax loss for the quarter was
Horizon Air's passenger traffic in the first quarter declined 20.4 percent on a 16.5 percent capacity decrease, compared to the first quarter of 2008. Load factor declined by 3.3 percentage points to 66.6 percent. Horizon's passenger revenue per ASM decreased 0.7 percent and its operating cost per ASM, excluding fuel and mark-to-market fuel hedge gains, increased 5.8 percent. Horizon's total pretax loss for the quarter was
A summary of financial and statistical data for Alaska Airlines and Horizon Air, as well as a reconciliation of the reported non-GAAP financial measures, can be found in the accompanying tables. A glossary of financial terms can be found at the end of this release.
First checked bag service charge and guarantee
Alaska Airlines and Horizon Air also announced they will join nearly all major domestic carriers in charging for a first checked bag. The
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