Alaska Airlines cash and marketable securities rose 5% during the fourth quarter as debt fell.
The Seattle-based carrier had $1.25 billion in cash at the end of December, up 5% from the end of September. The metric was up 9.6% during the year.
Long-term debt was down 3.1% to $871 million during the fourth quarter and down 20.7% for the year.
Capital spending was $518 million in 2012. This included $455 million related to the delivery of four Boeing 737-900ERs and three 737-800s for Alaska, and two Bombardier Q400s for Alaska's subsidiary Horizon Air.