Alaska Air Group posts first quarter 2016 net income of US$183m

Alaska Air Group reported record first quarter net income, excluding special items, of US$183m, a 23% increase over the first quarter of 2015. Adjusted diluted earnings per share of $1.45 was a 29% increase over the first quarter of 2015. This quarter’s results exceed First Call analyst consensus estimate of $1.42 per share. Alaska posted first quarter 2016 GAAP net income of US$184m compared to US$149m in the first quarter of 2015. Excluding the impact of mark-to-market fuel hedge adjustments, the company reported record adjusted net income of US$183m compared to adjusted net income of US$149m in 2015. Passenger revenues grew by 4% compared to the first quarter of 2015.