Exhibit 99.1
alaskaairgrouplogoa95.jpg

July 25, 2019
Media contact:
 
Investor/analyst contact:
Media Relations
 
Chris Berry
(206) 304-0008
 
VP Finance and Controller
 
 
(206) 392-5260

Alaska Air Group reports second quarter 2019 results
Financial Highlights:
Reported net income for the second quarter of 2019 under Generally Accepted Accounting Principles (GAAP) of $262 million, or $2.11 per diluted share, compared to net income of $193 million, or $1.56 per diluted share in the second quarter of 2018.
Reported net income for the second quarter of 2019, excluding merger-related costs and mark-to-market fuel hedge accounting adjustments of $270 million, or $2.17 per diluted share, compared to $206 million or $1.66 per diluted share, in the second quarter of 2018. This quarter's adjusted results compare to the First Call analyst consensus estimate of $2.13 per share.
Paid a $0.35 per-share quarterly cash dividend in the second quarter, a 9% increase over the dividend paid in the second quarter of 2018.
Repurchased a total of 408,665 shares of common stock for approximately $25 million in the first six months of 2019.
Generated $1 billion of operating cash flow in the first six months of 2019, including merger-related costs.
Held $1.6 billion in unrestricted cash and marketable securities as of June 30, 2019.
Reduced debt-to-capitalization ratio to 45% as of June 30, 2019 compared to 47% as of December 31, 2018.
Operational Highlights:
Alaska technicians, represented by the Aircraft Mechanics Fraternal Association, ratified an integrated seniority list and a transition agreement, including a two-year contract extension, in July 2019.
Reached a tentative agreement with the International Association of Machinists on a new five-year contract for Alaska's clerical, office, passenger service, ramp and stores employees.
Added EL AL Israel Airlines as a new global Mileage Plan partner.
Announced a new route connecting Paine Field in Everett, Washington to Palm Springs, California.
Finished painting the Alaska Airlines livery on all Airbus aircraft.
Completed cabin interior renovations of 14 Airbus aircraft and 11 737-700 aircraft.
Installed high-speed satellite Wi-Fi on the 44th mainline aircraft.
Recognition and Awards:
Ranked "Highest in Customer Satisfaction Among Traditional Carriers" in 2019 by J.D. Power for the 12th year in a row.
Earned top spot for customer satisfaction on the American Customer Satisfaction Index Travel Report for 2018 - 2019.
Ranked as the best U.S. airline by Wallethub.
Named as No. 2 Domestic Airline by Travel & Leisure "World's Best Awards."

1

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