Alaska Air Q1 net income $184 million
This compares to $149 million, or $1.12 per diluted share in the first quarter of 2015.
Excluding the impact of mark-to-market fuel hedge adjustments, the company reported record adjusted net income of $183 million, or $1.45 per diluted share, compared to adjusted net income of $149 million, or $1.12 per diluted share, in 2015.
"We are proud to report record first quarter results,” said CEO Brad Tilden.
"These results are due to the efforts of employees at Alaska and Horizon who share a common sense of mission and a focus on low fares, operational reliability, and delivering a level of genuine and caring service that sets us apart.
"We see many of these same qualities in Virgin America, and we’re very excited about our proposed combination. We are looking forward to the integration process and are confident that our team has what it takes to build the premier airline for people living on the West Coast.”
The company generated approximately $530 million of operating cash flow and $410 million of free cash flow in the first quarter of 2016. Alaska Air Groupgrew passenger revenues by 4% compared to the first quarter of 2015.
The company achieved return on invested capital of 25.6% for the twelve-month period ending March 31, 2016, compared to 20.1% for the twelve-month period ending March 31, 2015.
It lowered adjusted debt-to-capitalization ratio to 26% as of March 31, 2016. ■