Summary by Moomoo AI
Alaska Air Group, Inc. (Alaska Air) reported a record operating revenue of $10.4 billion for 2023, surpassing pre-pandemic levels and marking the highest in the company's history. The company's consolidated pretax income under GAAP was $323 million, a significant increase from $79 million in 2022. This improvement was attributed to a $780 million rise in operating revenue, partially offset by a $456 million increase in operating expenses and $80 million in non-operating expenses. The revenue growth was primarily driven by the continued recovery in air travel demand. Alaska Air temporarily grounded its fleet of 65 B737-9 aircraft due to a safety incident but has since returned them to service, excluding the aircraft involved in the accident. The company has also initiated an audit of Boeing's...Show More