Alaska Posts Loss
 

Alaska posted a net loss of about $53 million for 2006 after deducting aircraft conversion and Mexico refunds. Sounds to me like they are going to play the hardball game with the pilot contract.:mad:

I hope they get a nice big pay raise. The previous slap in the face paycut caused a lot of anger in a great pilot group.

Well accountants can show anything. Even though they show a loss, we are going to share over 36 million in profit sharing. In addition, the company made 122 million in contributions to the pension plan. It is now over 80% funded.

Posted on Alaskasworld.com, "Excluding special items, Alaska Airlines earned an adjusted pretax profit of $200.5 million for the year, after posting a $1.9 million loss in the fourth quarter." Also, Alaska has over 1 billion in cash available.

We are going to negotiate hard also.

!!! We have tons of military guys. They seem to hire heavy drivers mostly though. I know mins are mins but surely you must be close. If you are close, send in the app and keep the updates coming.

I am currently on my third fighter tour and still only have around 1,300 hours PIC turbine. Fighter guys are not going to have a significant difference between their total time and their PIC turbine time, since they are logging PIC from practically day one.

A 3,000 hour (Alaska's min) fighter guy is a rare bird...probably only a guy who flew his entire career and retired from the AF will be eligible...not someone who got out of the military mid-career.

Make sure you do a your Military conversion. .2 or .3 per sortie
At one point in my quest, I had 1200 hours, but 1400 sorties...... that is a lot of take offs and landings. After the conversion I had enough for that magical 1500 to get my ATP. Most of the MGT pilots or interviewers understand fighter guys and their apparent low time.........You are roughly equivalent to a C-141 or C17 guy with 3000 hours or more. I wouldn't let that stop you from applying.

I don't know what they are thinking. I do know we will need to hire soon. We are currently negotiating a new contract. I believe they think they are going to get major productivity gains. I don't think the pilots are going to go for it. If we get a contract in April and they don't get the productivity gains they are looking for, look for a major hiring boom. Minimums can change in a NY minute.

F-4's A-4's and F-5's.......



Got to luv those .7 and .8s..........now my bladder is trained. I have trouble on those 12- 14 hours flights

I just finished a tour teaching fighter lead-in in the AT-38 (yep, the AF logs that as fighter time!) with about 600 sorties and 525 hours (0.8 ASD). If it weren't for a couple of 1.7s on cross countries over the weekends, I'd probably have a 0.7 average for that tour.

That'll go a long way towards the Air Tran buyout.

I love how they skew the numbers
 

AAG reports highest adjusted net profit ever

Jan. 25, 2007


Alaska Air Group today reported an adjusted net profit of $137.7 million in 2006, compared to $55.0 million in 2005. This is an all-time record for the company.

The items excluded from this adjusted number include those related to the transition to an all-Boeing 737 fleet at Alaska Airlines, voluntary severance programs related to new labor contracts at Alaska, and mark-to-market fuel hedging adjustments for both companies.

With these charges included (which is the case under standardized rules known as generally accepted accounting principles, or GAAP), AAG reported a full year net loss of $52.6 million, compared to a net loss of $5.9 million in 2005.

“While unit revenue growth slowed somewhat during the fourth quarter, our full year adjusted earnings show steady improvement over the last five years,” says Bill Ayer, AAG’s chairman and CEO. “This positive trend reflects the commitment of employees at Alaska and Horizon to achieve our customer, operational and financial goals. Alaska’s transition by the end of 2008 to an all-737 fleet will further our efforts to reduce costs while delivering a compelling customer value.”

Shared Rewards profit sharing triggered

As a result of AAG's 2006 performance, Horizon and Alaska employees will receive a record $36.8 million through the Shared Rewards program's profit sharing and Operational Performance Rewards (OPR) components.

Eligible employees will receive their financial statements by Feb. 23, and their share of the profit will appear in their paychecks on Feb. 23 (in Canada) and March 2 (in the United States).

Horizon's contribution



Horizon's adjusted pretax profit for 2006 was $23.2 million, a 30.3 percent increase over 2005.

"We closed out our 25th anniversary year with our second-best financial performance ever and our fourth consecutive year of improved earnings since the events of 9/11," says Jeff Pinneo, Horizon president and CEO. "This is a testament to the skill and hard work everyone at Horizon has applied, whether in direct contact with customers or in supporting those efforts behind the scenes. And this hard-won success gives us strong momentum as we head into our 26th year."

Fourth quarter numbers

AAG reported a fourth quarter adjusted net loss of $3.4 million, compared to adjusted net income of $0.6 million in the fourth quarter of 2005.

Similar to the items noted for the full year, both of these 2006 and 2005 quarterly results exclude mark-to-market fuel hedge accounting adjustments and restructuring-related items.

Including the impact of these items, the company would have reported a fourth quarter net loss of $11.6 million, compared to a net loss of $33.0 million in the fourth quarter of 2005.

Horizon’s adjusted pretax loss was $0.5 million for the quarter, compared to pretax income of $0.4 million in the fourth quarter of 2005. Including the fuel-hedging items referenced above, Horizon’s pretax loss for the quarter was $3.5 million, compared to a pretax loss of $6.6 million in 2005.

Alaska’s adjusted pretax loss was $1.9 million for the quarter, compared to pre-tax income of $0.5 million in the fourth quarter of 2005. Including the restructuring adjustments and fuel-hedging items referenced above, Alaska’s pretax loss for the quarter was $12.1 million, compared to a pretax loss of $46.3 million in 2005.

From Air Transport World

Alaska Airlines and Horizon Air parent Alaska Air Group reported a full-year 2006 net loss of $52.6 million .

Alaska Air Group says fleet transition, labor deals to blame for 2006 loss


WELCOME TO THE ALASKA SPIN ZONE!!!!