Alaska Air Group reports record third quarter 2013 results

Alaska Air Group reported third quarter 2013 GAAP net income of $289m compared to $163m in the third quarter of 2012. Excluding the impact of mark-to-market fuel hedge adjustments of $20m and a one-time special revenue item of $192m ($120m after tax) that primarily resulted from the application of new accounting rules associated with the modified affinity card agreement, the company reported record adjusted net income of $157m compared to adjusted net income of $150m in 2012.