Alaska Airlines Reports Fourth Quarter Net Income of $18 Million, FY 2021 Net Income of $478 M
Alaska Airlines has reported a fourth quarter GAAP net income if $18 million or $0.14 per share on revenue of $1.9 billion. For the full year 2021, the carrier reported a net income of $478 million or $3.77 per share on a 73 percent revenue increase to $6.2 billion.
On Thursday (January 27, 2022), Alaska Air Group, Inc. (NYSE: ALK) reported their fourth quarter and full year financial results for the period ending December 31, 2021. The carrier reported a fourth quarter GAAP net income of $18 million or $0.14 per diluted share on a year-over-year increase in revenue of 135 percent to $1.9 billion. For the full year 2021, Alaska reported a GAAP net income of $478 million or $3.77 per diluted share on a 73 percent year-over-year increase in revenue to $6.2 billion. When special items are excluded, primarily $914 million in U.S. Treasury Payroll Support Program extension funds (PSP2 and PSP3), mark-to-market fuel hedge adjustments and restructuring charges, the airline reported a 2021 non-GAAP adjusted net loss of $256 million or ($2.03) per diluted share. At December 31, 2021, Alaska Airlines had total cash and marketable securities of $3.12 billion.
In Thursday’s announcement, Alaska Air Group’s CEO, Ben Minicucci, said,
“While recovery in our industry is never linear, our caring and dedicated people and the strength of our competitive advantages position us for success no matter what challenges we face. Despite operational disruption from omicron and severe winter weather in December, our fourth quarter adjusted pre-tax margin was 2.4%, marking one of the industry's most profitable performances in Q4 and the second half of the year. We have laid a solid foundation for our return to 100% of our pre-COVID flying by summer 2022 and we're poised to grow from there.”
Alaska Airlines and their regional partners serve over 120 destinations in the United States, Mexico, Canada, Costa Rica and Belize. The sustainability-focused carrier emphasizes Next-Level Care for guests, while offering low fares and award-winning service. Alaska has hubs in Seattle, San Francisco, Los Angeles, Portland and Anchorage. The carrier is a member of the oneworld global alliance, and along with their additional partners, Alaska Airlines’ guests can earn and redeem miles on flights to more than 1,000 global destinations on over 20 airlines. Alaska Airlines and Horizon Air are subsidiaries of the Alaska Air Group, Inc. (NYSE: ALK).
Source: Alaska Airlines/PRNewswire