Alaska posts $470m operating profit in Q3

Washington DC
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Alaska Air has reported a $470 million operating profit in the third quarter, nearly double that of a year earlier.

Operating revenues rose 22% to $1.56 billion and operating expenses increased 8% to $1.09 billion.

Net profit was $289 million, which includes positive special items results.

Seattle-based Alaska reports a 13% return on invested capital (ROIC) for the 12 months ending 30 September.

Passenger revenue per available seat mile (PRASM) fell 1.2% to 13.17 cents while costs per available seat mile (CASM) excluding fuel rose 1.4% to 8.16 cents.

Alaska paid an average of $3.24 per gallon of fuel during the quarter.

Traffic increased 6.8% on a 7.2% increase in capacity, which resulted in a 0.4 percentage point decrease in load factor to 86.5%.