Exhibit 99.1
alaskaairgrouplogoa69.jpg

October 25, 2018
Media contact:
 
Investor/analyst contact:
Media Relations
 
Matt Grady
(206) 304-0008
 
Director, Investor Relations
 
 
(206) 392-5382

Alaska Air Group Reports Third Quarter 2018 Results
Financial Highlights:
Reported net income for the third quarter under Generally Accepted Accounting Principles (GAAP) of $217 million, or $1.75 per diluted share, compared to net income of $259 million, or $2.09 per diluted share in the third quarter of 2017. As the company has recently implemented new accounting standards, including the standards relating to revenue recognition and retirement benefits, 2017 financial information has been adjusted.
Reported net income for the third quarter, excluding special items such as merger-related costs and mark-to-market fuel hedge accounting adjustments, of $237 million, or $1.91 per diluted share, compared to $270 million or $2.18 per diluted share, in the third quarter of 2017. This quarter's adjusted results compare to the First Call analyst consensus estimate of $1.81 per share.
Paid a $0.32 per-share quarterly cash dividend in the third quarter, a 7% increase over the dividend paid in the third quarter of 2017.
Repurchased a total of 582,942 shares of common stock for approximately $37 million in the first nine months of 2018.
Generated approximately $1 billion of operating cash flow in the first nine months of 2018, including merger-related costs and other special items.
Held $1.4 billion in unrestricted cash and marketable securities as of September 30, 2018.
Reduced debt-to-capitalization ratio to 49% as of September 30, 2018, compared to 53% as of December 31, 2017, and down from 59% immediately following our acquisition of Virgin America. Reduced long-term debt balance to $1.7 billion as of September 30, 2018 from $2.6 billion as of December 31, 2016.
Operational Highlights:
Updated food and beverage menus to highlight West Coast inspired fresh meals, snacks and local craft beers further enhancing the airline's onboard guest experience.
Announced one new route to Columbus, Ohio, which will begin service in March 2019, and two new routes to El Paso, Texas, which will begin service in February 2019.
Began our fleet-wide installation of satellite Wi-Fi, completing three Airbus aircraft during the quarter.
Completed the painting of Alaska livery on 16 Airbus aircraft, and expect to have 33 completed by the end of the year.
Finalized the integrated seniority list for our pilots; all groups except for aircraft technicians are now under a single contract and have an integrated seniority list.
Added three Boeing 737-900ER aircraft to the mainline operating fleet and four Embraer 175 (E175) aircraft to the regional operating fleet in the third quarter of 2018.

1

The following information was filed by Alaska Air Group, Inc. (ALK) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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