Summary by Futu AI
Alaska Air reported a narrower loss before income tax for Q1 2024 at $178 million compared to $199 million in Q1 2023. The adjusted loss before income tax also improved year-over-year, from $115 million to $157 million. Net loss per share decreased from $1.11 to $1.05, and adjusted net loss per share improved from $0.62 to $0.92. Total operating expenses rose slightly by 1% to $2,398 million, with a significant $100 million decrease in aircraft fuel costs. Revenue passengers decreased by 1%, while load factor increased by 1.5 points. Revenue improved by 2% to $2,232 million, driven by record first quarter revenue, strategic capacity deployment, and strong leisure and business demand. The company expects Q2 2024 capacity to increase by 5% to 7% and projects earnings per share of $2.20 to $2.40. Full-year expectations include a capacity increase of less than 3%, earnings...Show More