Alaska Air Group has reported a first quarter 2021 GAAP net loss of $131 million compared to a net loss of $232 million in prior year period. Excluding the impact of payroll support program wage offsets, special items and mark-to-market fuel hedge adjustments, Alaska reported an adjusted net loss of $436 million compared to an adjusted net loss of $102 million in 2020.
"This has been a long road, and I want to thank the employees at Alaska and Horizon for providing great guest service and everything they've done to get through the last challenging year and help us achieve positive cash flow in March," said CEO Ben Minicucci. "We're a big company, but still small enough that each person's work makes a difference. We're now laser focused on a return to profitability and growth, with aggressive cost control, optimal productivity across all our work groups, and the operational and financial discipline that Alaska is known for.