Alaska Air Group has reported financial results for its first quarter ending March 31, 2022. The Group reported net loss for the first quarter of 2022 under Generally Accepted Accounting Principles (GAAP) of US$143 million, compared to a net loss of US$131 million in the first quarter of 2021.
Net loss for the first quarter of 2022, excluding special items and mark-to-market fuel hedge accounting adjustments, was US$167 million compared to a net loss, excluding special items and mark-to-market fuel hedge accounting adjustments, of US$436 million in the first quarter of 2021.
The Group generated US$287 million in operating cash flow for the first quarter, driven by increased advance bookings as both leisure and business demand for air travel continue to recover.
Alaska Air Group held US$2.9 billion in unrestricted cash and marketable securities as of March 31, 2022 and ended the quarter with a debt-to-capitalisation ratio of 50%, within its target range of 40% to 50%. (£1.00 = US$1.31 at time of publication).
