Alaska Air Group 3Q20 Earnings Analysis
Alaska Air Group reported better than expected earnings in the third quarter although the outlook for the airline industry is still pessimistic.
In the third quarter of 2020, Alaska Air Group reported $701 million in revenues, compared to $2,389 million for the same quarter in 2019. The net loss of the company was $431 million, or $3.49 per diluted share, compared to net income of $322 million, or $2.60 per diluted share in the third quarter of 2019.
Before the pandemic, Alaska Air Group had 1300 flights a day, which fell to 350 in April and is now 760. Soon the company is expecting 840 flights a day. Although, through the use of air filters and mandatory masks, traveling on airplanes is safe, Alaska Airlines is extending its blockage of the middle seat on its flights till January 6th 2021. This measure is keeping current capacity at 55% and the company is transporting about 80 000 passengers a day, compared to 130 000 before the pandemic and 5 000 in April 2020.
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