Net loss, excluding special items, widened to $3.51 per share in the March quarter from $0.83 per share in the year-ago period. On a reported basis, the company reported a loss of $131 million or $1.05 per share, compared to a loss of $232 million or $1.89 per share in the first quarter of 2020. Analysts were looking for a slightly wider loss.
The bottom-line performance was negatively impacted by a 51% decrease in revenues to $797 million. The top-line, however, exceeded the market’s projection.
Read management/analysts’ comments on Alaska Air’s Q1 report
ADVERTISEMENT
Alaska Air Group’s shares made strong gains early Thursday soon after the announcement, after closing the previous session higher.