Alaska Air Group reports USD256m in Q3 2016 net income

Alaska Air Group, Inc. (NYSE: ALK) has reported GAAP net income for the third quarter 2016 of USD256 million, compared to net income of USD274 million in the same quarter of
2015, the company said.

The company reported adjusted diluted earnings per share of USD2.20, a two percent increase over the third quarter of 2015. Third quarter net income, excluding special items, was USD272 million, a two percent decrease from the third quarter of 2015.

The company generated approximately USD1.2 billion of operating cash flow and USD700 million of free cash flow for the nine months ending Sept. 30, 2016.

Alaska Air proposed the acquisition of Virgin America on April 4, 2016, and has
raised approximately USD1.5 billion of funding in anticipation of the proposed acquisition.