Exhibit 99.1
alaskaairgrouplogob03.jpg

October 24, 2019
Media contact:
 
Investor/analyst contact:
Media Relations
 
Emily Halverson
(206) 304-0008
 
Director, Investor Relations
 
 
(206) 392-5908

Alaska Air Group reports third quarter 2019 results
Financial Highlights:
Reported net income for the third quarter of 2019 under Generally Accepted Accounting Principles (GAAP) of $322 million, or $2.60 per diluted share, compared to net income of $217 million, or $1.75 per diluted share in the third quarter of 2018.
Reported net income for the third quarter of 2019, excluding merger-related costs and mark-to-market fuel hedge accounting adjustments, of $326 million, or $2.63 per diluted share, compared to $237 million or $1.91 per diluted share, in the third quarter of 2018. This quarter's adjusted results compare to the First Call analyst consensus estimate of $2.52 per share.
Paid a $0.35 per-share cash dividend in the third quarter, a 9% increase over the dividend paid in the third quarter of 2018.
Repurchased a total of 874,019 shares of common stock for approximately $53 million in the first nine months of 2019.
Generated $1.4 billion of operating cash flow in the first nine months of 2019.
Made a voluntary contribution of $65 million to defined benefit pension plans in the third quarter.
Held $1.6 billion in unrestricted cash and marketable securities as of September 30, 2019.
Reduced debt-to-capitalization ratio to 42% as of September 30, 2019 compared to 47% as of December 31, 2018.
Operational Highlights:
Alaska's clerical, office, passenger service, ramp and stores employees, represented by the International Association of Machinists, ratified a new five-year agreement in August.
Opened a new 15,000+ square foot flagship lounge in the North Satellite at Sea-Tac International Airport in July.
Reallocated flying to expand offerings between the Pacific Northwest and California, increasing network utility and providing more non-stop service on the West Coast.
Completed cabin interior renovations of the 25th Airbus aircraft during the third quarter.
Installed high-speed satellite Wi-Fi on the 54th mainline aircraft.
Recognition and Awards:
Named "Best U.S. Airline" by Condé Nast Traveler for the second consecutive year.
Ranked as top U.S. airline in Newsweek's 2020 Best Customer Service awards.
Mileage Plan ranked first in the U.S. News & World Report's list of Best Airline Rewards Programs for the fifth consecutive year.
Ranked as the top U.S. airline in the Dow Jones Sustainability Index for the third consecutive year.
Ranked among Forbes' 2019 global list for "World's Best Employers."

1

The following information was filed by Alaska Air Group, Inc. (ALK) on Thursday, October 24, 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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