Alaska Air has reported net income for the first quarter of 2019 at $21 million, up from $18 million reported in the corresponding period last year. This figure, however, excluded the impact of merger-related costs and mark-to-market fuel hedge adjustments.
The group's revenue also increased for the quarter, coming in at $1.88 billion, up 2.4% from the $1.83 billion reported in the corresponding period last year.
The carrier surpassed its updated Q1 revenue forecast, posting a 2.2% RASM increase. Additionally, nonfuel unit costs came in well below the company's initial expectations. As a result, Alaska Air was able to expand its pre-tax margin to 1.5%, compared to 1.3% a year earlier.
"We performed well in the first quarter despite severe winter storms in the Pacific Northwest," said Alaska CEO Brad Tilden. "The leadership team and I want to thank our employees for running the operation safely, and as smoothly as possible, and for taking great care of our guests throughout the quarter. Our margin improvement initiatives gained traction despite the storms, and we are optimistic about the rest of 2019.