Exhibit 99.1

April 25, 2019
Media contact:
Investor/analyst contact:
Media Relations
Matt Grady
(206) 304-0008
Director, Investor Relations
(206) 392-5382

Alaska Air Group Reports First Quarter 2019 Results
Financial Highlights:
Reported net income under Generally Accepted Accounting Principles (GAAP) of $4 million, or $0.03 per diluted share for the first quarter of 2019 and 2018.
Reported net income for the first quarter of 2019, excluding special items such as merger-related costs and mark-to-market fuel hedge accounting adjustments, of $21 million, or $0.17 per diluted share, compared to $18 million or $0.14 per diluted share, in the first quarter of 2018. This quarter's adjusted results compare to the First Call analyst consensus estimate of $0.12 per share.
Paid a $0.35 per-share quarterly cash dividend in the first quarter, a 9% increase over the dividend paid in the first quarter of 2018.
Repurchased a total of 214,891 shares of common stock for approximately $13 million in the first three months of 2019.
Generated approximately $470 million of operating cash flow in the first three months of 2019, including merger-related costs.
Held $1.4 billion in unrestricted cash and marketable securities as of March 31, 2019.
Maintained debt-to-capitalization ratio of 47% as of March 31, 2019, similar to the 47% as of December 31, 2018.
Operational Highlights:
Launched commercial service from Paine Field in Everett, Washington, to eight West Coast destinations and began service from Seattle to Columbus, Ohio, and El Paso, Texas.
Completed painting 25 Airbus aircraft in Alaska livery, and expect to complete the remainder of the fleet in the second quarter.
Announced plans to build a new Alaska Lounge in Terminal 2 at San Francisco International Airport.
Introduced a new Alaska Airlines Visa Signature Card sign-up promotion offering up to 40,000 miles to new cardholders.
Added four Boeing 737-900ER aircraft to the mainline operating fleet in the first quarter of 2019.
Recognition and Awards:
Ranked the best U.S. Airline by Money Magazine for the second year in a row.
Named "Best Mid-Size Airline" by TripAdvisor in their 2019 Travelers Choice awards.
Ranked as the No. 2 Airline in America by The Points Guy.


The following information was filed by Alaska Air Group, Inc. (ALK) on Thursday, April 25, 2019 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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