Alaska Air Group has reported another quarter of improvement in its financial results for the fourth quarter and full year ended December 31, 2021.
The Group reported net income for the fourth quarter and full year 2021 under Generally Accepted Accounting Principles (GAAP) of US$18 million and US$478 million respectively. These results compare to a net loss for the fourth quarter and full year 2020 of US$447 million and US$1.3 billion respectively.
Alaska Air Group reported net income for the fourth quarter and net loss for the full year 2021, excluding special items and mark-to-market fuel hedge accounting adjustments, of US$31 million and US$256 million respectively. These results compare to a net loss for the fourth quarter and full year 2020, excluding special items and mark-to-market fuel hedge accounting adjustments, of US$316 million and US$1.3 billion respectively.
The Group reported adjusted pre-tax margin for the fourth quarter of 2021 of 2.4%, marking the second profitable quarter on an adjusted basis since the onset of the pandemic.
The Group recorded US$42 million and US$151 million of incentive pay in the fourth quarter and full year 2021 earned by employees for meeting or exceeding cash flow, cost management, and safety goals, representing approximately three weeks pay for most employees.
