Following flush earnings reports at other U.S. airlines this month, Alaska Air Group reported a profit of $240 million in the second quarter, up 73% from the same quarter a year ago. via seattletimes
In this March 1, 2021 file photo Alaska Airlines planes are shown parked at gates with Mount Rainier in the background at sunrise, at Seattle-Tacoma International Airport in Seattle.
Still, the profit figure, which amounts to $1.86 per share, came in 30% lower than financial analysts projected. And on a conference call with Wall Street analysts Tuesday morning, Chief Financial Officer Shane Tackett said that, while fares for July forward remain very high relative to 2019, they are down compared with the peak of previous months.
He said enough Alaska frequent flyers to fill 18 Boeing 787 Dreamliners have been redeeming Alaska miles daily to fly on international partner airlines. The growth in passenger numbers came even though Alaska had 1.3% fewer departures in the second quarter compared with a year earlier. Most of the capacity growth came from flying larger airplanes, especially the new Boeing 737 MAXs, and flying them on longer routes.Alaska expects to stop flying its remaining 10 Airbus A321 aircraft and revert to an all-Boeing fleet by the end of September.
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