Alaska Air Group Inc. has released its financial results for the fourth quarter and full year of 2024, showcasing a significant performance in revenue and earnings. The company reported record annual revenue of $11.7 billion, achieving a GAAP pretax margin of 4.6% and an adjusted pretax margin of 7.1%, which is considered among the best in the industry.
Ben Minicucci, President & CEO of Alaska Air Group, stated, "This was a transformational year as we brought Hawaiian Airlines into Alaska Air Group and began our journey to unlock $1 billion in incremental pretax profit over the next three years." He emphasized the company's commitment to rewarding employees with nearly six weeks of pay as part of their incentive plan.
The acquisition of Hawaiian Airlines was completed on September 18, 2024, impacting consolidated results for the fourth quarter and full year. Fourth-quarter GAAP earnings per share were reported at $0.55, while adjusted earnings per share reached $0.97, surpassing guidance by approximately $0.50 at midpoint due to improvements in revenue and cost management.
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