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Alaska Air Group reports Q2 net income of USD29.1m.


Alaska Air Group Inc (NYSE:ALK) on Thursday reported net income of USD29.1m or USD0.79 per diluted share for the second quarter of 2009, compared to net income of USD63.1m, or USD1.74 per diluted share, for the same period last year.

Excluding new pilot contract transition costs of USD35.8m and mark-to-market fuel hedge gains of USD39.8m, Alaska recorded net income for the quarter of USD26.5m, or USD0.72 per diluted share, compared to the second quarter 2008 net loss of USD14.1m, or USD0.39 per share, excluding special items.

The airline group's chairman and CEO Bill Ayer said that the second quarter earnings reflected "a steep decline in fuel prices, network adjustments and employees' hard work and attention to customers".

He also said that he expects the economy to be "very challenging" for the foreseeable future.

Alaska Air Group is the parent company of Alaska Airlines and Horizon Air.

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Publication:Airline Industry Information
Article Type:Financial report
Date:Jul 23, 2009
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