Alaska Air Group has announced its financial results for the fourth quarter and full year ending December 31, 2024, which now include Hawaiian Airlines from September 18, 2024. The Group reported net income under Generally Accepted Accounting Principles (GAAP) of US$71 million, or US$0.55 per share, for the fourth quarter and US$395 million, or US$3.08 per share, for the full year. This compares to a net loss of US$2 million, or US$0.02 per share, in the fourth quarter of 2023 and net income of US$235 million, or US$1.83 per share, for the full year 2023.
Excluding special items and other adjustments, Alaska Air Group achieved a net income of US$125 million, or US$0.97 per share, for the fourth quarter and US$625 million, or US$4.87 per share, for the full year. These results represent an improvement from the adjusted net income of US$38 million, or US$0.30 per share, in the fourth quarter of 2023 and US$583 million, or US$4.53 per share, for the full year 2023.
The Group recorded an adjusted pre-tax margin of 7.1% for the full year 2024, positioning it among the industry leaders. Operating cash flow for the year reached US$1.5 billion. In addition, Alaska Air Group secured US$2 billion in financing backed by its Mileage Plan programme and retired US$1.6 billion in debt acquired from Hawaiian Airlines.
The company repurchased 3.9 million shares of common stock in the fourth quarter for approximately US$250 million, bringing the total to 5.5 million shares repurchased for US$312 million in 2024. Furthermore, a new US$1 billion share repurchase programme has been authorised, with purchases set to begin in January 2025 and to be executed over the next four years.
