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Profit of $ALK grew to $367MM, or $2.97 per share, for 4Q17 as the company saw a special income tax benefit of $274MM related to tax law change. Excluding certain items, the company’s earnings fell 46.7% YoY to $0.83 per share. Revenue for the quarter increased 29% to $1.9Bil.
December 2017 traffic for $ALK grew 9.2% on a 10.3% increase in capacity compared to last year, on a combined basis for all operations. The airline continues to see declining load factor, which decreased 0.8 points to 82.3% for the month.
Horizon Group, a subsidiary of airline company $ALK, has appointed Gary Beck as President and Chief Executive Officer. Meanwhile, Constance von Muehlen was named the company’s new COO. Earlier, Beck had served Alaska Airlines from 2008 to June 2015 as VP of Flight Operations. Muehlen is a former army helicopter pilot.
$SABR renewed its distribution agreement with Alaska Airlines, a subsidiary of $ALK, to continue providing full content through the Sabre Travel Network global distribution system (GDS). This new five-year deal leverages Sabre's leading technology portfolio, and extends Alaska's passenger services system.
Alaska Airlines, a subsidiary of $ALK, begins nonstop service between San Francisco International Airport and Kailua-Kona International Airport, the 31st new route launched by the carrier from California this year. The new service is part of the largest network expansion in Alaska Airlines' 85-year history.
Lower load factor and withering PRASM plague the fleet-heavy United as the US airline industry enters the year-end quarter. Though American, Delta and Southwest reported huge number of flight cancellation during 3Q17 on the Hurricane impact, all held steady on their numbers with nominal losses. $AAL $DAL $UAL $LUV $ALK
$ALK will redeploy aircraft used to serve Havana to markets with higher demand. The airline has launched 44 routes in 2017 and anticipates it will grow about 7.2% this year. As the company looks ahead to 2018, it is planning for nearly 8% network growth by adding capacity in primarily existing markets.
$ALK to end its flights to Cuba from Jan. 22, 2018, less than a year after it began Los Angeles-Havana daily flights. The move comes due to the slowdown in passengers and changes to the US policy. Last Week, President Donald Trump imposed new restrictions on travel to Cuba.
$ALK's regional subsidiary Horizon Air has encountered some challenges of late regarding pilot shortages. Pilots have been leaving regional airlines for mainline opportunities at higher rates. The airline said that it is now hiring 30 pilots a month, but it's going to take another 90 days to really catch up on the backlog of training.
$ALK posted a 4% YoY increase in profit to $266MM, or $2.14 per share, for 3Q17 as it continues the process of integrating with West Coast carrier Virgin America. The company recorded a 35% increase in revenue to $2.12Bil. Excluding the impact of merger-related costs and fuel hedge adjustments, the company's earnings grew 2% to $2.24 per share.
$ALK reported a traffic for the month of September 2017 of 4.16Bil revenue passenger miles, up 8.4% from last year. Capacity increased 10.1% to 5.02Bil available seat miles, while passenger load factor declined 1.3 points to 82.9% from 84.2%.
$ALK appointed Jeff Butler as its new VP of inflight and call center services. He succeeds Andy Schneider, who was named VP of people last month. Butler, who previously led inflight and later airports and customer service at Alaska, has been in an interim role as VP of guest and inflight services at Virgin America for the past year.
Aviation company $ALK has entered into a seven-year agreement with the San Francisco Giants to become the latter’s official airline. The contract extends an existing partnership established by Alaska subsidiary Virgin America in 2008. The partnership features several co-branded elements, which will be launched soon.