Alaska Air Group Inc., which operates Alaska Airlines and Horizon Air, has reported record-setting second quarter net income of $67.5 million, compared to $28.8 million the company reported for the second quarter of 2011. Both figures show the company’s earned income under Generally Accepted Accounting Principles.
Alaska Air Group CEO Brad Tilden said in a company statement that the significant revenue increase from last year was driven by strong demand and a growing route network.
“Our people are doing a terrific job, and I want to thank them for running a safe operation, taking great care of our customers and producing these excellent results,” Tilden said, in the statement.
Alaska Air Group launched 10 new nonstop routes in the second quarter, including a flight from Portland to the Bellingham International Airport, which began June 4.
Alaska Airlines announced last month it will begin seasonal service from Bellingham to the Kahului International Airport on the Hawaiian island of Maui, starting on Nov. 8. Alaska also operates flights between Bellingham and Honolulu.
Alaska Air Group reported in its company statement it held $1.2 billion in unrestricted cash and marketable securities as of June 30, 2012.
The air travel firm also said it has ratified a six-year agreement with the International Association of Machinists and Aerospace Workers, a union representing Alaska’s ramp service and stores agents.