Alaska Air Group reports record adjusted fourth quarter 2014

Alaska Air Group reported fourth quarter 2014 GAAP net income of US$148m compared to GAAP net income of US$78m in 2013. Excluding mark-to-market fuel hedge gains of US$6m (US$4m after tax) a benefit related to the curtailment of certain postretirement benefit plans and a one-time gain associated with the settlement of a legal matter for US$30m in aggregate (US$19m after tax), the company reported record fourth quarter 2014 net income of US$125m, compared to net income, excluding mark-to-market fuel hedge gains, of US$77m in 2013. The company reported full-year 2014 GAAP net income of US$605m, compared to US$508m in the prior year. The company reported record net income of US$571m for 2014, compared to net income of US$383m 2013.