Alaska Airlines and its subsidiary Horizon Air continue to make money despite sharply higher fuel prices. Executives with the Seattle-based airline group Thursday reported a 12th-consecutive quarterly profit.
CEO-elect Brad Tilden says the $28 million net profit in this year's first quarter is "marginally" smaller than the same quarter last year.
"Given this quarter's solid results and the current demand environment, we're cautiously optimistic about 2012," Tilden says. "The biggest headwind is high fuel prices and their impact both on our cost structure and on the pocketbooks of our customers."
Air group executives say they've been able to recover nearly all of their increased fuel costs this year by charging higher fares. The company is also packing more passengers on planes.
Tilden says Alaska Airlines also helped its results by eliminating flights with low profitability and moving those aircraft to more profitable routes such as to Hawaii.
In June, the airline plans to debut new non-stops between Seattle and Philadelphia as well as Portland to Bellingham.
On the Web:
Alaska Air Group press release:
http://phx.corporate-ir.net/phoenix.zhtml?c=109361&p=irol-newsArticle&ID=1684924&highlight=
Copyright 2012 Northwest News Network
Copyright 2012 Northwest News Network
