Alaska Air posts profit, higher cargo revenue
Alaska Air Group, which owns Alaska Airlines and Horizon Air, reported cargo revenue for the third quarter ended Sept. 30 rose to $22.6 million from $21.1 million in the year-ago period.
Cargo revenue was $63.6 million for the first three quarters compared to $59.4 million in 2002.
Alaska Airlines, which carried more than 141 million pounds of cargo in 2002, said cargo revenue was up 8.6 percent to $21.4 million for the quarter and up 7.6 percent to $59.8 million for the first nine months of the year. The nation's ninth-largest carrier accounts for about 80 percent of the group's revenues.
Overall, the group posted a $40.7-million profit in the quarter compared to $12.5 million during the same period in 2002. The company cited higher passenger loads, cost cutting and the government's temporary waiver of security fees for the increase. Net income for the first nine months was $29.6 million down from $75.5 million in 2002, but without 2003 government reimbursement for security-related expenses of $71.4 million the company would have recorded a net loss of $14.7 million.