Alaska Air Group has reported fourth quarter 2018 GAAP net income of US$23 million, compared to US$315 million in 2017. Excluding the impact of merger-related costs, other special items, and mark-to-market fuel hedge adjustments, the company reported fourth quarter adjusted net income of US$93 million, compared to adjusted net income of US$88 million in the fourth quarter of 2017.
The Group generated approximately US$1.2 billion of operating cash flow, and used approximately US$960 million for capital expenditures, resulting in approximately US$240 million of free cash flow in 2018.
The company reported full-year 2018 GAAP net income of US$437 million, compared to US$960 million in the prior year. Excluding the impact of merger-related costs, other special items, and mark-to-market fuel hedge adjustments, the company reported adjusted net income of US$554 million, compared to adjusted net income of US$791 million in 2017.
