Alaska Air Group, Alaska Airlines’ parent business, reports that high post-pandemic demand for air travel generated record sales in the second quarter of 2022.
The Seattle-based carrier reported a profit of $139 million on July 21, down from $397 million in the same quarter last year. However, that figure includes US federal payroll assistance. Without the assistance, the corporation lost $38 million in the second quarter of 2021.
Revenue for the quarter were $2.66 billion, a 74% increase over the $1.53 billion reported during the same three-month period in 2021. According to Alaska, this is the most profitable quarter in the company’s history. The airline claims that revenue in June alone surpassed $1 billion, the biggest single month ever for Alaska.
It is obvious that one of the things people have missed the most during the past two years is travel. We have a solid foundation for growth in 2023, and there are many reasons to be upbeat.
The company’s CEO, Ben Minicucci
Alaska anticipates its revenues for the entire year to increase by between 16 and 19 percent from pre-pandemic 2019 levels, highlighting the positive predictions for the industry as a whole.
Operating costs increased by 153 percent during the same period, from $978 million to $2.47 billion, as travellers returned.
According to the airline, load factor increased to a record 88 percent during the second quarter.
Between April and June, the airline received nine new Boeing 737 Max 9 planes, bringing the fleet’s total number of these planes to 28.
Alaska Air Group placed an extra eight Embraer 175 orders earlier this week, along with 13 options. According to a capacity purchase agreement with regional affiliate Horizon Air, the aircraft will only fly for Alaska Airlines. It now runs 30 E175s.
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