Alaska Airlines regains profitability in Q3 2021
Alaska Airlines has reported a net income in the third quarter of 2021, marking one step closer to the airline’s recovery.
The Seattle-based airline posted a net income, excluding special items and mark-to-market fuel hedge accounting adjustments, of $187 million in Q3 2021, an increase compared to a net loss of $399 million in Q3 2020.
During the quarter, Alaska’s operating revenue rose to $1.9 billion, a significant increase compared to $704 million during the same period in 2020.
“We are thrilled to return to profitability this quarter, leading the industry with a 12% pretax profit margin," Alaska Airlines CEO Ben Minicucci announced in a statement dated October 21, 2021.
Minicucci continued: “We're all feeling the momentum and look forward to building on our strong foundation for growth in 2022 and beyond."
In Q3 2021, the airline also exercised options for another 12 Boeing 737 MAX 9 aircraft slated for delivery in 2023 and 2024. It also added “options for an additional 25 deliveries, bringing Alaska's total firm commitments for 737 MAX 9 aircraft to 93 and available options to 52”, Alaska outlined in a statement. Currently, the airline operates seven Boeing 737 MAX 9 aircraft.
Planespotters.net data indicates that Alaska Airlines has a total of 321 aircraft in its fleet with an average aircraft age of 9.4 years. The airline’s fleet comprises 173 Boeing 737 family aircraft, 62 Embraer ERJ-170s, 44 Airbus A320 family aircraft, 32 De Havilland Canada DHC-8 Dash-8s, and 10 Airbus A321 aircraft.
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