SkyWest reports pre-tax income of $18 million and net income of $15 million during quarter two of 2023

U.S. airline SkyWest has released details of its financial and operating results for the second quarter of 2023, including net income of $15 million, or $0.35 per diluted share, compared to net income of $54 million, or $1.07 earnings per diluted share, for Q2 2022.

Chip Childs, Chief Executive Officer of SkyWest, said, “We are making steady headway towards reaching our strategic business objectives and remain optimistic as we continue experiencing strong demand for our products. I want to thank our team of professionals for delivering industry-leading performance throughout the second quarter.”

SkyWest Airlines has a fleet of approximately 500 aircraft connecting passengers to over 240 destinations throughout North America. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines, and Alaska Airlines carrying more than 40 million passengers in 2022.

Under its previously announced share repurchase programs, SkyWest repurchased 3.3 million shares of common stock for $94 million during Q2 2023. In total, during the first half of 2023, SkyWest repurchased 8.4 million shares of common stock for $194 million, which represented 17% of SkyWest’s outstanding shares as of December 31, 2022. The current share repurchase program authorized by the SkyWest Board of Directors in May 2023 had $186 million of remaining availability as of June 30, 2023.

Financial Results

Revenue was $726 million in Q2 2023, down $73 million, or 9%, from $799 million in Q2 2022. SkyWest deferred recognizing $60 million of revenue during Q2 2023 compared to recognizing previously deferred revenue of $16 million during Q2 2022. The amount of revenue deferred during Q2 2023 was driven by modified terms relating to fixed monthly cash payments under SkyWest’s previously announced amended flying contracts. See the “Other Supplemental Cash Flow Information” section of this release for more information. The remaining reduction in revenue was attributed to a decrease in block hour production in Q2 2023 compared to Q2 2022.

Operating expenses were $694 million in Q2 2023, down $16 million, or 2%, from $710 million in Q2 2022, driven by decreases in operating costs as a result of lower Q2 2023 block hour production compared to Q2 2022, partially offset by increases in employee compensation, including higher pilot pay scales.

Capital and Liquidity

SkyWest had $862 million in cash and marketable securities at June 30, 2023, down from $936 million at March 31, 2023 and $1.0 billion at December 31, 2022.

Total debt at June 30, 2023 was $3.2 billion, down from $3.3 billion at March 31, 2023 and $3.4 billion at December 31, 2022. Capital expenditures during Q2 2023 were $31 million for spare engines and other fixed assets.

Status Update on Previously Announced Agreements

SkyWest anticipates adding two E175 aircraft in Q4 2023 and one E175 aircraft in 2024 under a flying contract with Delta Air Lines. SkyWest also anticipates adding one E175 aircraft in 2025 under a flying contract with Alaska Airlines. Timing of future deliveries is subject to change.

By the end of 2025, SkyWest is scheduled to operate a total of 239 E175 aircraft.

Alaska Airlines reopens renovated D Concourse Lounge in Seattle

Alaska Airlines is all set to welcome back members and passengers to its popular D Concourse Lounge at the carrier's hometown airport of Seattle, which has been renovated to offer 50% more seating and improved amenities. 

Alaska Airlines has doubled the footprint of lounges with an investment of some $30 million for improvements over the past five years. The airline said its focus was on producing fresh upgrades and new amenities to make the spaces bigger and better than ever. 

The renovated lounge has a new barista station located on the first level so members and guests can grab a quick, hand-crafted espresso beverage or brewed coffee to go (a big request by travellers on their way to their gate), or they can simply hang out for a bit. 

"The revamped D Concourse Lounge in Seattle will be a huge hit with all those travellers who visit. We added thoughtful touches – from being able to quickly grab a delicious hand-crafted espresso beverage to more comfy chairs to relax in."  said Sangita Woerner, senior vice president of marketing and guest experience at Alaska Airlines.

The redesigned D Concourse Lounge features artwork by the influential Coast Salish artist Louie Gong (Nooksack). His unique style merges traditional Native art with influences from his mixed heritage and urban environment to create work that resonates widely across communities and cultures.

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Alaska Airlines adds new nonstop between Honolulu and Seattle/Everett - Paine Field....

Alaska Airlines to operate a daily year-round service between Seattle/Everett -Paine Field and Oahu, Hawai'i 

Alaska Airlines will launch the new service on 17th November, ready for the autumn/fall peak holiday season.  The new service will be the longest flight the carrier operates from Paine Field.

“If there’s one place our guests told us again and again that they wanted to fly to from Seattle’s northern airport, it’s beautiful Hawaii. We’ve been eager to make it happen,” said Kirsten Amrine, vice president of revenue management and network planning for Alaska Airlines. “We’ve proudly served the Hawaiian Islands for more than 15 years. This new route adds Seattle/Everett to our list of West Coast gateways to Honolulu. We’ll be ready to say aloha to our guests on this new flight this fall.”

Seattle/Everett is a closer and more convenient airport when travelling to and from points north of Seattle. Alaska Airlines says that many of its customers prefer the smaller airport and the more easy to navigate the terminal’s location and lounge atmosphere. The airport recently welcomed its one-millionth passenger on a departing flight from Seattle/Everett.

“For those travelling between Honolulu and Washington State, flying into Seattle/Everett will be a terrific, less congested option and a great way to access the greater Seattle area,” said Daniel Chun, director of sales, community and public relations in Hawaii for Alaska Airlines. “With this new flight, we’ll fly a combined six nonstops a day to the two Seattle area airports from Oahu, providing our leisure and business travellers with a variety of flight times that work best for them.”

The route will be operated with the airline's Boeing 737 jets which have a three-class cabin configuration. First Class, Premium Class and Economy.  The aircraft have power outlets at every seat and are fitted with the ability to stream hundreds of free movies and TV shows to passengers' own devices. Despite the length of the flight, passengers will still have to buy their own refreshments or snacks. 

Alaska Airlines salutes indigenous culture & language with new special salmon livery jet

Earlier this week, Alaska Airlines unveiled its very latest special livery jet that has been designed by talented Alaska native artist Crystal Kaakeeyáa Rose Demientieff Worl. Xáat Kwáani means “Salmon People” in the Alaskan Tlingit language and refers to the spiritual link between the people who interact with the beloved salmon and all of us who benefit from their stewardship of the environment.

Using Northwest Coast formline art, the salmon design by Worl is a one-of-a-kind work that honours salmon, culture, artistic expression, and language. Traditional formline art dates back thousands of years and is a two-dimensional design style of the Northwest Coast.

“Every time I looked at an Alaska plane, I couldn't help but visualize the salmon being in formline, or having some sort of design that represents identity. I can't help but look at things and see how to Indigenize them,” said Worl. “I have high hopes this project will encourage people to learn and embrace Indigenous culture and values.”

Marilyn Romano, regional vice president, of Alaska Airlines said:  "Crystal Worl has a love of monumental art — most recently murals gracing the sides of buildings in Juneau and Anchorage for locals and visitors to enjoy. And we had a large blank canvas — a 737-800. - During our first conversation, Crystal shared her desire to paint an Alaska Airlines plane — she has flown with us most of her life. Salmon as a focus was intentional and Crystal shares the relationship between salmon and Native people through storytelling and artistic design."

Salmon has a special meaning and significance in the state of Alaska, the Pacific Northwest and along the West Coast. Some travel as far as 600 miles each way, each uniquely adapted to its particular river system, ocean and watershed environment.

Xáat Kwáani paint facts:

• It took 117 gallons of paint to complete the livery.

• Four main colours were used to create the livery: Midnight Blue, Atlas Blue, White and Pink.

• From landing to take-off, it took just 12 days to paint.

• The specially painted livery will fly for a number of years through a paint system that applies a protective clear coat over the base coats. This protective coating will keep the livery looking fresh for many years.

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Alaska Airlines introduces new meal offerings in First Class and Economy.

Alaska Airlines adds a bigger variety of food & beverage options

Alaska Airlines introduces new meal selections in first class and economy as well as a take on a classic sandwich that is infused with West Coast flavours.

Alaska Airlines has increased the variety of food offerings available on flights from today which effectively doubles the number of pre-order options in the economy main cabin and gives first-class passengers up to five different main courses to enjoy on their flights.

 

The airline has added a new sandwich which was named by one of the carrier's staff - Jetsetter’s Jam is a version of the American classic peanut butter and jelly (Jelly is Jam in most other places in the world!)  sandwich – but the Alaska take is that its peanut free. It’s made instead with toasted cashew and oat butter and a homemade strawberry compote on a sweet croissant bread, paired with fresh fruit and a slice of Tillamook cheese.

"We’re always looking to spark joy with great food and drink on board our flights, delivering a delicious meal or craft beverage with care as part of our award-winning service,” said Todd Traynor-Corey, managing director of guest products at Alaska Airlines. “What our guests have to say is important, and they told us that more food and beverage variety would be great, so we set out to make that happen. We’ve worked hard to give our guests of all ages a wider selection of food, from classic comfort food to more healthful options all while representing the vibrant flavours of the West Coast. 

 

Alaska continues to offer freshly-prepared meals in First Class on its flights as short as 550 miles, unlike most other U.S. airlines that have very little on flights under 900 miles. Alaska Air passengers in first class also have more vegan and gluten-free options available to reserve before their flight.  Fresh food in the main economy cabin is available only by pre-ordering it, on the airline's website or app. 

A sampling of what’s new in First Class

Passengers have a choice of up to five different entrees on coast-to-coast and Hawaii flights.

Breakfast features menu options like Mushroom Omelet, Chicken Sausage Breakfast Bowl and Lemon Blueberry Pancakes

Lunch options include a Wedge Salad with Applewood Bacon, Korean Barbeque Chicken Sandwich and Caramelized Onion Angus Burger

Dinner options on long-haul flights including Chimichurri Flat Iron Steak, Herb Roasted Chicken, Lemon Fennel Manicotti and Ginger Beef Stir-Fry Noodles

Beecher’s Flagship Mac and Cheese as a comfort classic on certain flights

For a little spice, Alicia’s Pork Carnitas Tamale – handcrafted with organic ingredients in the Bay Area – is now available on select flights departing the Bay Area

Vegan options are available for pre-order on all meal service flights including items such as a Harissa and Chorizo Frittata made with plant-based JUST Egg, a Spicy Tofu Wrap and a White Bean Chili with Grilled Polenta

What’s new in the main cabin

Breakfast options will include a Turkey, Bacon & Tomato Bagel Sandwich and Smoked Salmon Bagel Sandwich

Lunch and dinner options include two new salad choices designed in partnership with Evergreens Salad: Stand Banh Mi and Strawberry Fields for Chevre

There are also two new wraps to enjoy: Mediterranean Chicken Shawarma and Chicken Mango

On flights to and from Hawaii, the airline is bringing back hot food with the return of the Tillamook cheeseburger with more hot food choices planned for the future

Signature Fruit and Cheese Platter and Fresh Start Protein Platters remain available in addition to more variety of sandwiches and salad

The new Jetsetter's Jam sandwich is available for purchase by pre-order in the main cabin on flights over 775 miles. 

For beverages, those with deep pockets and flying in first class they can enjoy wines from Ste. Chapelle – the oldest winery in Idaho led by a female winemaker – and Fat Tire Amber Ale from New Belgium, which is the first-ever completely carbon-neutral beer. In July, Sierra Nevada Hazy Little Thing Hazy IPA will join the mix along with a Schilling Hard Cider.

Alaska Airlines and ZeroAvia partner in developing world’s largest zero-emission aircraft

Hydrogen electric powered Q400 could be the future of regional travel 

This week Alaska Airlines unveiled a freshly painted Bombardier Q400 regional turboprop and handed it over to ZeroAvia where it will be retrofitted with a hydrogen-electric propulsion system to further enhance and expand the reach and applicability of zero emissions flight technology.

ZeroAvia unveils world’s most advanced electric motor technology for aviation, paving way for hydrogen-electric engines for Dash 8 and similar airframes

At an event, held at ZeroAvia’s Paine Field research and development site with the formal handover of the 76-seat Q400 aircraft that will be developed by ZeroAvia witnessed by various dignitaries and invited guests.  

When Alaska Airlines’ regional carrier Horizon Air retired its Q400 fleet, it reserved one of the aircraft for research and development purposes to further advance zero emissions technology for the aviation industry. The aircraft was repainted with a special livery to highlight the innovative mission of this partnership.

ZeroAvia also debuted its breakthrough multi-megawatt modular electric motor system in a 1.8MW prototype configuration at the event – demonstrated with a propeller spin aboard the ZeroAvia’s 15-ton HyperTruck ground-test rig. Combined with higher-temperature PEM fuel cells and advanced power electronics – both technologies that ZeroAvia is developing in-house – the leading-edge electric motor technology is one of three key building blocks for enabling commercially-relevant hydrogen fuel cell engines for larger aircraft.  

Aligning ZeroAvia’s powertrain with the Dash 8-400 airframe will represent a commercially viable zero-emission aircraft with fuel cell engine technology around five times more powerful than what has been demonstrated anywhere to date.  

“Demonstrating this size of aircraft in flight, powered entirely by novel propulsion, would have been unthinkable a few years ago,” said Val Miftakhov, founder and CEO of ZeroAvia. “Launching this program puts us on track for a test flight next year, and accelerates our progress toward the future of zero-emission flight for Alaska Airlines and for the world at large.”

Alaska Airlines launches partnership with STARLUX Airlines

Alaska Airlines has signed a new deal with STARLUX Airlines which now flies between Los Angeles and Taipei with connections to 16 destinations across Asia. Alaska's Mileage Plan members can earn miles on all STARLUX flights and soon they’ll be able to redeem miles on STARLUX as well.  When redemptions become available this summer on STARLUX flights between Los Angeles and Taipei, they will start at 20,000 miles for economy, 40,000 for premium economy and 60,000 for business class for a limited time.

STARLUX is a premier global airline offering world-class service and amenities. We’re proud to be their first airline partner,” said Nat Pieper, senior vice president of fleet, finance and alliances at Alaska Airlines. “Our guests will love flying on STARLUX, connecting the West Coast, Taipei and many more incredible places in Asia. We’re thrilled to offer our loyal Mileage Plan members another exciting way to see the world.”

“STARLUX Airlines has marked a successful three-year operation of our Asian routes, revolutionizing the aviation industry with our exceptional service and innovative cabin design that have been highly commended by passengers. In a new milestone, we launched our inaugural flight to Los Angeles today, offering convenient and comfortable long-haul premier services to passengers travelling to the city of angels,” said Glenn Chai, CEO of STARLUX Airlines. 

STARLUX operates the transpacific route with its new-generation Airbus A350-900 aircraft configured in a four-class layout: First, business, premium economy and economy.

Inflight service on STARLUX includes Taiwanese signature dishes and amenities prepared for passengers in all classes. STARLUX will be offering first and business guests a selection of the best top chef’s creations and local Taiwanese delicacies. The popular STARLUX signature dish yakiniku donburi is served on board. And to bring greater individuality to their air travel experience, all passengers can pre-order meals online so they can enjoy the meal they want.

Alaska Air Group reports first quarter 2023 results

Alaska Air Group has issued its financial results for the first quarter ending March 31, 2023.

"This quarter we returned to pre-pandemic levels of flying and our roadmap to profitable growth is on track,” said Alaska CEO Ben Minicucci. “As we progress through the year, we have taken deliberate steps to build momentum and we are well prepared for peak summer flying. Thank you to our 23,000 employees who are the backbone of our success – I’m proud of their work to deliver operational excellence and show care for the people who fly with us each day. We are well-positioned to deliver on our full-year financial targets, including a 9% to 12% adjusted pretax margin.” 

Singapore Airlines named as one of the 50 most admired companies in the world.

Fortune magazine has named Singapore Airlines one of the 50 most admired companies in the world.

The airline said in a statement "We would like to thank our customers for their continuous support, which we do not take for granted. This accolade is a testament to the dedication of our people, who have been critical to our recovery and who strive to exceed the expectations of our customers every single day."

For more details, visit https://bit.ly/3XW3YLP.

Other airlines on the list include Delta Air Lines, Lufthansa, Cathay Pacific, Southwest, Air France-KLM, Alaska Air and United. 

Alaska Airlines drops platsic cups.....

All inflight beverages on Alaska flights are now served in Forest Stewardship Council (FSC) certified paper cups or reusable glassware for most First-Class services. It is a move which eliminates more than 55 million plastic cups annually and replaces them with a more planet-friendly alternative. The carrier began the process of eliminating its five largest sources of plastic waste in 2018 by removing plastic straws and stir sticks from inflight service. 

As part of the sustainability efforts, Alaska continues to pursue product innovations and supply chain advancements to achieve our 2025 goal of replacing the top five waste-producing items from onboard service and continuing to recycle. In 2021, Alaska established climate goals for its impacts in carbon, waste, and water while defining a five-part pathway to achieve net zero carbon emissions by 2040 to keep the places we live and fly beautiful and viable for generations to come.

The airline is also eliminating plastic water bottles in favour of Boxed Water cartons. Boxed Water packages purified water in 100% recyclable cartons made from plant materials, and guests surveyed report that they prefer Boxed Water over plastic-bottled water at a rate of 2-to-1.

Alaska Airlines’ new holiday-themed plane......

Photos by Molly Smith

This holiday season Alaska Airlines has hit on a new way of enticing people to spend more of their hard-earned dosh on airline tickets, by encouraging us to give the gift of travel.

The company has announced it will be donating 1 million miles to its CARE Miles scheme and has painted an aircraft in a fetching new livery to promote the idea of gifting travel!

Alaska Airlines’ new holiday-themed plane is all about giving the gift of travel – Alaska Airlines News

Photos by Molly Smith

Photos by Molly Smith

Alaska Airlines firms up options for 52 Boeing MAX jets

Alaska Airlines announced this week it is exercising options to purchase 52 Boeing 737 MAX aircraft for delivery between 2024 and 2027—growing the airline’s confirmed 737 MAX fleet from 94 to 146. Alaska also secured rights for 105 more planes through 2030, ensuring access to sufficient aircraft for fleet replacement and growth. This agreement represents the largest commitment for future aircraft in the airline’s history.

"This investment secures aircraft to optimize our growth through the next decade, which we know will be a formidable competitive advantage," said Alaska Airlines CEO Ben Minicucci. “We’re proud of the strong financial foundation that uniquely positions Alaska to make this commitment to our future, and of the fantastic partnership we share with our hometown aircraft manufacturer at Boeing.”

Already operating a fleet of 35 737-MAX 9 aircraft, the airline expects to take delivery of another 43 MAX aircraft between now and the end of 2023—at which point it will once again operate a mainline fleet solely of Boeing aircraft. Alaska Air says the performance of the 737- MAX 9 has exceeded its expectations on economics and fuel efficiency.

This order positions Alaska’s fleet as one of the most efficient, environmentally friendly, and profitable fleets in the industry. The order includes MAX 8s, 9s and 10s enabling Alaska to optimally match aircraft size and capability with market characteristics. 

“As Alaska Airlines sustainably grows its fleet, the 737 MAX family offers environmental performance and flexibility to expand service across its route network,” said Stan Deal, president and CEO of Boeing Commercial Airplanes. “Built in our Renton factory near Alaska’s headquarters in Washington state, these airplanes will carry passengers to destinations for years to come.”

Alaska Airlines announced today it is exercising options to purchase 52 Boeing 737 MAX aircraft for delivery between 2024 and 2027

Alaska Airlines announced today it is exercising options to purchase 52 Boeing 737 MAX aircraft for delivery between 2024 and 2027—growing the airline’s confirmed 737 MAX fleet from 94 to 146. Alaska also secured rights for 105 more planes through 2030, ensuring access to sufficient aircraft for fleet replacement and growth. This agreement represents the largest commitment for future aircraft in the airline’s history.

"This investment secures aircraft to optimize our growth through the next decade, which we know will be a formidable competitive advantage," said Alaska Airlines CEO Ben Minicucci. “We’re proud of the strong financial foundation that uniquely positions Alaska to make this commitment to our future, and of the fantastic partnership we share with our hometown aircraft manufacturer at Boeing.”

Already operating a fleet of 35 737-MAX 9 aircraft, the airline expects to take delivery of another 43 MAX aircraft between now and the end of 2023—at which point it will once again operate a mainline fleet solely of Boeing aircraft. Alaska Air says the performance of the 737- MAX 9 has exceeded its expectations on economics and fuel efficiency.

This order positions Alaska’s fleet as one of the most efficient, environmentally friendly, and profitable fleets in the industry. The order includes MAX 8s, 9s and 10s enabling Alaska to optimally match aircraft size and capability with market characteristics. 

“As Alaska Airlines sustainably grows its fleet, the 737 MAX family offers environmental performance and flexibility to expand service across its route network,” said Stan Deal, president and CEO of Boeing Commercial Airplanes. “Built in our Renton factory near Alaska’s headquarters in Washington state, these airplanes will carry passengers to destinations for years to come.”

Alaska Airlines pilots vote YES on new contract

Alaska Airlines pilots, who are represented by the Air Line Pilots Association (ALPA), voted to ratify a new three-year contract. The new contract, which has been overwhelmingly supported by the firm's pilots, which includes significant improvements on pay, greater flexibility, better benefits and stronger job security.

More than 96% of Alaska’s 3,300 pilots voted, and the agreement passed by 82%.

The new contract, which is effective immediately, includes:

Wage increases up to 23% depending on years of service. Top-of-scale captains will now make $306 per hour, which increases to $330 after two years. A market rate adjustment will keep pilots in line with peers at other airlines in the years ahead.

ALPA-designed schedules and increased flexibility for pilots to adjust their schedules.

Stronger job security ensuring Alaska pilot growth alongside company growth.

Retirement contribution increases and no increase to health care costs.

The previous contract became amendable in 2020. Contracts in the airline industry do not expire. Once they become amendable, the current contract remains in effect until a new agreement is ratified. 

"Our pilots are leaders in our operation," said Alaska Airlines’ CEO Ben Minicucci. "While it took some time, I’m glad to have them working under a new contract that values their contributions to Alaska. I’m grateful to our colleagues at ALPA who bargained with determination and a fierce dedication to our pilots. This new contract reiterates what many of us have known for decades: Alaska is a great place to spend a pilot career."

"Our goal was to negotiate an agreement where our pilots could make Alaska Airlines a lifelong career," said Captain Will McQuillen, Chairman of the Alaska Airlines Master Executive Council. "This contract is good for our pilots and their families and also good for our airline."

Photo Alaska Airlines

Alaska Airlines to add nonstop flight between Everett and Anchorage

Alaska Airlines is adding a new route to its schedule with effect of 30 November between Everett, Washington and Anchorage.  This new daily, year-round service is designed to link families, friends, businesses and industry in two key regions.  Brett Catlin, vice president of network and alliances for Alaska Airlines said: We listened to our guests who live and work from north of Seattle to the Canadian border. They told us one of their top requests is a nonstop flight between Everett and Anchorage,” said . “There’s a significant need and demand to connect workers and businesses in the two regions —from the fishing industry to aviation—in addition to the desire for leisure travel. We’re ready to welcome our guests on this new route this fall.”

Flight schedule:

Start date	Cities	Departs	Arrives	Frequency	Aircraft
Nov. 30	PAE-ANC	11:05 a.m.	2:05 p.m.	Daily	E175
Nov. 30	ANC-PAE	1:40 p.m.	6:10 p.m.	Daily	E175

All times Pacific Standard Time and all flights are year-round.

9 destinations from Paine Field in Everett

From Everett this autumn and winter, Alaska Air will fly to nine destinations: Anchorage, Boise, Las Vegas, Orange County, Palm Springs, Phoenix, San Diego, San Francisco and Spokane.

Garry Clark, president and CEO at Economic Alliance Snohomish County, said:  “For Economic Alliance Snohomish County, the City of Everett and Paine Field, we are thankful for the rich history of business and community engagement provided by Alaska Airlines. This announcement is another example of Alaska Airlines’ willingness to be forward thinking, valuing its customers to create desired opportunities for travel and connection. This is extra sweet due to Alaska Airlines’ history: Anchorage served as the first flight location for Alaska Airlines and its founder Linious McGee back in 1932. Snohomish County is grateful for Alaska and its continued efforts at Paine Field.”

Alaska Air orders eight new E175 aircraft for operation by Horizon Air

 Earlier this week, Alaska Air Group announced an order for eight additional new E175 aircraft to be operated by Horizon Air. The new aircraft will be flown exclusively for Alaska Airlines by Horizon.

Horizon is transitioning out of flying the Q400 and moving to a single fleet of E175s to be flown to the more than 45 cities Horizon serves throughout the Pacific Northwest, Alaska, California, the Midwest, and British Columbia and Alberta in Canada.

“The E175 is an extremely efficient aircraft,” said Nat Pieper, senior vice president of fleet, finance and alliances for Alaska Airlines. “The jet is the perfect aircraft to serve Horizon’s regional network in the Pacific Northwest and beyond. Our guests will enjoy a consistent, three-class cabin experience as they travel from smaller communities to catch flights across Alaska’s larger hubs or on one of our many global airline partners.

Horizon will take delivery of nine E175s over the next year as part of a previous order that also includes three deliveries in 2025. With this order by 2026, if not sooner, Horizon will have a fleet of 50 E175s.

Mark Neely, VP Americas, Embraer Commercial Aviation, said, “The E175 is the backbone of the US regional network, feeding airport hubs across the country as well as producing the connectivity all communities need to thrive, both economically and socially. While this market is currently under pressure, it is essential that carriers are able to provide these essential services to the entire United States. The Embraer E175, with 85% market share in its segment, is keeping the US on the move and in touch.”

The Alaska Airlines’ E175 experience:

Seat pitch is 31 inches in the Main Cabin, 34 inches in Premium Class and between 36 and 38 inches in First Class.

All guests flying on the E175 will enjoy a window or aisle seat.

The regional jet is equipped with large overhead bins.

Maximum cruising altitude: 41,000 feet

Typical cruising speed: 494 mph

Alaska Air Group delivers record-breaking second quarter 2022 results

Alaska Air Group today announced another quarter of improvement in its financial results for the second quarter ending June 30, 2022, and provided outlook for the third quarter ending September 30, 2022.

"It’s clear that travel is one of the things people have missed the most these past two years. They are excited to fly again and our team is delivering on the safe, reliable and caring experience they expect from us,” said CEO Ben Minicucci. "Revenue in June topped $1 billion, the highest single month in our history. Our 14% adjusted pretax margin in Q2 is near the top of the industry, and our operation is on track in June with the #1 on-time performance and a schedule completion rate over 99%. I’m feeling so much gratitude for the people of Alaska, Horizon and McGee for pulling together. We have a strong platform for growth in 2023 and a lot to be optimistic about."

Financial Results for the Second Quarter:

Reported net income for the second quarter of 2022 under Generally Accepted Accounting Principles (GAAP) of $139 million, or $1.09 per share, compared to a net income of $397 million, or $3.13 per share, in the second quarter of 2021.

Reported net income for the second quarter of 2022, excluding special items and mark-to-market fuel hedge accounting adjustments, of $280 million, or $2.19 per share, compared to a net loss, excluding special items and mark-to-market fuel hedge accounting adjustments, of $38 million, or $0.30 per share, in the second quarter of 2021.

Reported adjusted pretax margin for the second quarter of 14%.

Recorded $2.7 billion in operating revenues for the second quarter, the highest revenue-generating quarter in company history.

Balance Sheet and Liquidity:

Generated $948 million in operating cash flow for the second quarter, inclusive of $231 million in net federal income tax refunds.

Held $3.4 billion in unrestricted cash and marketable securities as of June 30, 2022.

Maintained a debt-to-capitalization ratio of 50% as of June 30, 2022, within our target range of 40% to 50%.

Operational Updates and Milestones for the Second Quarter:

Flew a record load factor for the quarter of 88%, driven by high demand on reduced capacity.

Led the industry in on-time performance for the month of June, meeting our commitment to operational reliability.

Received nine Boeing 737-9 aircraft in the second quarter, bringing the total number of 737-9s in our mainline fleet to 28.

Ratified new contracts with Alaska Airlines dispatchers and Horizon Air aircraft technicians and fleet service agents; and reached a tentative agreement with Alaska Airlines IAM represented employees.

Expanded pilot training throughput by 20% from April, and added 100 active mainline pilots in the second quarter.

Began nonstop service to Miami and Cleveland from Seattle, bringing the total nonstop destinations served from Seattle to 100.

Launched $8 flat rate satellite Wi-Fi on mainline aircraft in partnership with Intelsat.

Awards and Employee Recognition:

Ranked as one of America’s Best Employers for Diversity by Forbes, recognizing our commitment to increasing diverse leadership representation and equity initiatives.

Named the Best Major Airline in North America by the Airline Passenger Experience Association, highlighting Alaska’s inflight experience.

Recognized the company’s workforce for their relentless commitment to caring for our guests for 90 years by giving each employee 90,000 miles redeemable for travel anywhere in the world.

Second Quarter Environmental, Social and Governance Updates:

Released our 2021 Care Report, highlighting the company’s progress in various environmental, social and governance areas and outlining ongoing initiatives and future goals.

Signed agreement with Aemetis to purchase 13 million gallons of sustainable aviation fuel to be delivered over the seven-year term of the agreement.

Subsequent to quarter end, announced a partnership with Microsoft and Twelve, a carbon transformation technology company, to advance the availability of sustainable aviation fuels.

Scored 100% in our first year participating in Disability:IN’s Disability Equality Index, which benchmarks companies on their disability inclusion and equality.

Alaska Airlines surprises employees with 90,000 miles to travel the globe

Alaska Airlines is celebrating its 90th anniversary by giving all employees the gift of travel.

A number of airline employees had to carry on working during the various lockdowns as part of the Coronavirus pandemic, for these, each day brought new challenges, regulations and precautions in an ever-changing environment. 

Alaska Airlines is taking a special step to thank each employee for their relentless commitment to caring for passengers for 90 years & counting by giving them 90,000 miles to fly anywhere in the world.

"As we celebrate 90 years of flying, we wouldn’t be where we are today without our incredible people who work nonstop to keep things moving, even throughout a global pandemic,” said CEO Ben Minicucci. “When you think about how many airlines have come and gone since 1932, it’s an amazing achievement that we’re still here and stronger than ever—it’s because of the genuine care and hard work our people bring to our operation every day."

Unlike miles earned by passengers,  these miles for staff never expire and offer flexibility to travel not just on Alaska, but also the carrier's oneworld partners like British Airways, Qantas, Qatar Airways, Finnair and its other airline partners. Travel awards begin at just 5,000 miles, and can be used to book First Class tickets, a relaxing stay at a hotel or tickets to an anticipated event—there are so many ways to use airline miles!

What can you do with 90,000 miles? 

For instance, a roundtrip flight from Seattle up and down the West Coast starts at just 10,000 roundtrips, which means maybe that Alaska Airlines staff member can get up to nine roundtrip flights!

Roundtrips from Seattle to New York start at 25,000 miles, or even visit Hawaii from San Francisco starting at 30,000 miles roundtrip.

A roundtrip flight to Europe from the West Coast starts at 60,000 miles through oneworld partners. 

It is great that the airline is rewarding staff members, including those that were on furlough during the pandemic and despite the chronic staff shortages in the industry which has disrupted so many of its passengers.