Alaska Air Group reports first quarter profit of $13.1 million

Alaska Air Group reported net income excluding special items was $13.1 million compared to a net loss excluding special items of $25.4 million in the first quarter of 2009, despite a $27.1 million increase in economic fuel costs. This compares to a First Call mean estimate of $0.35 per share. This is only the third time the company has posted a first quarter adjusted profit in 11 years – and the best since 1999.