Alaska Air 3Q income rises, profit climbs nearly 40%

[News_Editor]

Alaska Air 3Q income rises, profit climbs nearly 40%

2010-10-22 18:07:06 GMT+7 (ICT)

SEATTLE, WASHINGTON (BNO NEWS) -- Alaska Air Group on Thursday reported best quarter ever after a nearly 40 percent profit rise in 3Q.

After strong demand, the company reported net income of $122.4 million, or $3.32 per diluted share, compared to net income of $87.6 million, or $2.46 per diluted share, in the third quarter of 2009.

Excluding items, the company earned $3.21 a share. Analysts were expecting profit of $3.10 a share. The Seattle-based company reported that revenue rose 10.3 percent to $1.07 billion, from $967.4 million in 2009 in the same period.

"We are pleased to report our best quarter ever, with record earnings driven by higher traffic and load factors," said Bill Ayer, chairman and chief executive officer.

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