Alaska Air Group reports Q2 2016 net income of USD263 million

Alaska Air Group has reported second quarter net income, excluding special items, of USD263 million, a 14 percent increase over the second quarter of 2015, the company said.

Adjusted diluted earnings per share of USD2.12 was a 20 percent increase over the second quarter of 2015. The company reported net income for the second quarter under Generally Accepted Accounting Principles (GAAP) of USD260 million or USD2.10 per diluted share, compared to net income of USD234 million, or USD1.79 per diluted share in 2015.

The company said it paid a USD0.275 per-share quarterly cash dividend in the second quarter, a 38 percent increase over the dividend paid in the second quarter of 2015.
The company generated approximately USD900 million of operating cash flow and USD560 million of free cash flow in the first six months of 2016.

Alaska Air grew passenger revenues by 3.0 percent compared to the second quarter of 2015.

The company announced proposed acquisition of Virgin America, Inc. on April 4, 2016. Peter Hunt, currently Virgin America´s senior vice president and chief financial officer, has been named president of the planned Virgin America subsidiary upon transaction close, expected in the fourth quarter this year.