Alaska Air Group has reported a first quarter 2021 GAAP net loss of US$131 million, compared to a net loss of US$232 million n the first quarter of 2020. Excluding the impact of payroll support program wage offsets, special items and mark-to-market fuel hedge adjustments, the company reported an adjusted net loss of US$436 million, compared to an adjusted net loss of US$102 million in 2020.
Alaska held US$3.5 billion in unrestricted cash and marketable securities as of March 31, 2021, and available total liquidity of US$5.3 billion. The company generated US$167 million in operating cash flow in the first quarter, inclusive of PSP funding, bolstered by improved advance bookings through increased demand for air travel.
