Alaska cash continues upward trend in Q1

Washington DC
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Alaska Airlines saw its cash balances increase to $1.27 billion during the first quarter, continuing the trend of the past year.

Cash, cash equivalents and marketable securities were up 1% from $1.25 billion at the end of December. Cash was up 11.4% from March 2012.

Long-term debt net current maturities was down 3.6% to $840 million at the end of March compared with three months earlier. Debt is down 19.2% year-on-year.

Seattle-based Alaska made $88 million in debt payments, bought back $19 million in stock and made $13 million in defined-benefit pension contributions during the quarter.

Capital expenditure was $103 million, including the purchase of three Boeing 737-900ERs with cash, in the quarter.