Alaska Air Group reported a fourth quarter 2008 net loss of $75.2 million, compared to net income of $7.4 million in the fourth quarter of 2007. Excluding special items, the company reported a net profit of $16.4 million compared to a net loss of $17.9 million in the fourth quarter of 2007.
The company reported a full year 2008 net loss of $135.9 million, compared to net income of $124.3 million in 2007. Excluding the full year impact of the special items noted above, the $42.3 million benefit ($26.5 million after tax) from changes in the company’s Mileage Plan program in the third quarter and MD-80 fleet transition costs, the company reported a 2008 net profit of $4.4 million compared to $91.6 million in 2007.
