Alaska Air Group has reported record first quarter net income, excluding special items, of $149 million - a 67% increase over the first quarter of 2014. Net income (GAAP) for the first quarter was $149 million or $1.12 per diluted share, compared to net income of $94 million, or $0.68 per diluted share in 2014.
The airline group generated record adjusted pretax margin in the first quarter of 18.9% compared to 11.8% in 2014, and an 18.8% adjusted pretax margin for the trailing 12-month period ended March 31, 2015, compared to 13.6% for the same period in the prior year.
Alaska also increased its fuel efficiency (as measured by seat-miles per gallon) by 2.5% compared to the first quarter of 2014.
"Our record first quarter results reflect lower fuel prices, but more importantly the tremendous loyalty of our customers in Seattle and across our system" said CEO Brad Tilden. "It is gratifying to see such strong growth and financial results given unprecedented competition. I want to thank our incredible employees who continue to rise to the challenge and deliver outstanding experiences to our customers.