Yesterday from its Sea-Tac headquarters the company reported second quarter earnings 17% below last year’s, or a little over $46 million this year compared to $55.5 million in 2006.
Passenger traffic was up over 4%. But in addition to higher fuel costs, the company says it has encountered new competition in its Mexican markets, a delay in converting some aircraft to combined passenger and freight configurations and an unusually high number of engine overhauls at Horizon.
The report drove Alaska stock down slightly over 10% to a 52 week low of $24.31.
Len Anderson, APRN – Anchorage