Alaska Air Group Inc: The Seattle-based carrier’s...
From Times Staff and Wire Reports
Alaska Air Group Inc: The Seattle-based carrier’s 1989 net income climbed 14% from 1988 to a record $43 million. Revenue totaled $917 million, up 13%. For the fourth quarter, earnings plunged 59% to $2.5 million on revenue of $223.3 million, a gain of 14%. The firm, which is the holding company for Alaska Airlines Inc. and Horizon Air Industries Inc., attributed the quarterly decline in profit to lower passenger fares and substantially higher fuel prices. The firm also noted that the Bay Area Quake and the eruption of Alaska’s Redoubt Volcano diminished revenue while adding to operating costs.
