Alaska Air Group reports record first quarter results

Alaska Air Group reported first quarter 2011 net income of $74.2 million compared to net income of $5.3 million in the first quarter of 2010. Excluding mark-to-market fuel hedge gains of $82.0 million ($51.0 million after tax) and CRJ-700 fleet transition costs of $10.1 million ($6.3 million after tax), the company reported record first quarter 2011 net income of $29.5 million compared to net income of $13.1 million excluding special items, in the first quarter of 2010.