1 Airline Just Reported a Strong Q3 Profit
The five biggest U.S. airlines have reported their third-quarter earnings over the past week-and-a-half. Most of them lost money, excluding special items like government payroll support grants. Delta Air Lines did a little better than most of the pack, eking out a modest adjusted pre-tax profit of $216 million, equivalent to a 2.6% adjusted pre-tax margin.
However, one airline bucked the trend. On Thursday, Alaska Air (NYSE: ALK) reported a strong profit for the third quarter, with its adjusted pre-tax margin rebounding to double-digit territory.
Three months ago, Alaska Air told investors that it had recorded an adjusted pre-tax margin of 14% in the month of June and was on pace to log a double-digit adjusted pre-tax margin for the full third quarter. At the time, the airline projected that Q3 unit revenue would roughly match its 2019 result.
Source Fool.com
