Alaska Airlines has taken the lead in the airline industry with remarkable third-quarter results. The airline recently acquired Hawaiian Airlines, which contributed to its impressive performance this quarter.

In the third quarter, Alaska Airlines reported a net income of $236 million, resulting in earnings of $1.84 per share. This figure showcases a robust adjusted pretax margin of 13.0%, placing Alaska Airlines at the forefront of the industry. Compared to the previous year, the airline significantly improved its net income, which was $139 million, or $1.08 per share, during the same quarter in 2023.

Furthermore, Alaska Airlines actively repurchased 367,705 shares for around $14 million. This brings the total repurchases for the nine months ending on September 30 to $63 million. Despite some challenges in capacity due to aircraft delivery delays, the airline’s cost management remains on track. Notably, the company has experienced its lowest attrition rates since 2019. In addition, Alaska Airlines increased its productivity by 4.6% year over year.

As of the end of the quarter, Alaska Airlines maintained a robust liquidity position of $3.4 billion, including about $850 million in undrawn credit lines. Recently, the airline raised $2.0 billion in Term Loan B and Bond debt, using its Mileage Plan program as collateral.

The acquisition of Hawaiian Airlines, completed on September 18, brought new opportunities. Alaska Airlines incorporated 13 days of Hawaiian’s results in its financial report. The airline has ambitious plans to enhance its commercial operations, improve customer loyalty, and optimize route networks.

With a schedule completion rate of 99.2% during peak travel times, Alaska Airlines aims to end the year among the top three airlines for pretax margins. Moreover, it anticipates earnings per share above its previous guidance of $3.50 to $4.50. Alaska Airlines will share its vision for the future during its Investor Day on December 10.

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