Alaska Air Q1 2021 Earnings Report

Alaska Air Group reported a net loss for the first quarter of 2021 due to the impact of the pandemic, but is focused on returning to profitability and growth with aggressive cost control and operational discipline.

Key Takeaways

Alaska Air Group reported a GAAP net loss of $131 million, or $1.05 per share, for the first quarter of 2021, compared to a net loss of $232 million, or $1.89 per share in the first quarter of 2020. Excluding certain items, the adjusted net loss was $436 million, or $3.51 per share. The company is focused on returning to profitability through cost control and productivity improvements.

Reported a net loss of $131 million, or $1.05 per share, compared to a net loss of $232 million, or $1.89 per share in Q1 2020.

Adjusted net loss of $436 million, or $3.51 per share, compared to an adjusted net loss of $102 million, or $0.83 per share in Q1 2020.

Decreased adjusted net debt to $1.6 billion at March 31, 2021, from $1.7 billion at December 31, 2020.

Held $3.5 billion in unrestricted cash and marketable securities as of March 31, 2021, with available total liquidity of $5.3 billion.

Total Revenue

$797M

Previous year: $1.64B

-51.3%

EPS

-$3.51

Previous year: -$0.82

+328.0%