SEATTLE — Alaska Air Group Inc. (ALK) on Thursday reported a loss of $131 million in its first quarter.
On a per-share basis, the Seattle-based company said it had a loss of $1.05. Losses, adjusted for one-time gains and costs, came to $3.51 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $3.71 per share.
The airline posted revenue of $797 million in the period.
Alaska Air shares have increased 32% since the beginning of the year. The stock has more than doubled in the last 12 months.
