Alaska Air widens fourth-quarter loss SEATTLE (AP) =97 Seattle-based Alaska Air Group on Thursday reported deeper= =20 fourth-quarter losses, missing analysts expectations as the airline=20 industry as a whole struggles to survive the prolonged downturn in=20 commercial aviation. For the October-December quarter, the parent company for Alaska Airlines=20 and regional carrier Horizon Air reported a net loss of $43.1 million, or=20 $1.62 a share, compared with a net loss of $37.4 million, or $1.41 a share,= =20 for the same period a year ago. Excluding one-time items, including federal= =20 compensation following the Sept. 11, 2001, terrorist attacks, the company's= =20 fourth-quarter net loss in 2001 would have been $63.9 million, or $2.41 a=20 share. Alaska Air revenues rose by 13%, from $466.1 million to $527.7=20 million in the fourth quarter. Analysts polled by Thomson First Call were=20 projecting a loss of $1.46 a share on revenue of $559 million for the= quarter. Shares of Alaska Air were down 9 cents a share to $19.86 in late trading on= =20 the New York Stock Exchange. "As expected, it was a difficult quarter,=20 ending yet another difficult year for both the industry and Alaska Air=20 Group," said John F. Kelly, Alaska Air chief executive. "We expect that=20 further changes in our industry will occur, but feel that we're well=20 positioned to deal with the challenges and opportunities that lie ahead."=20 Alaska Air reported increases in its fourth-quarter passenger traffic for=20 both its Alaska Airlines and regional Horizon Air carriers. The company=20 cited the popularity of its new routes to Boston, Miami, Washington, D.C.,= =20 and other locations for helping drive in revenue. Expenses for major=20 maintenance checks increased over the previous quarter, but there were no=20 glaring factors that caused Alaska Air to miss projections, noted Jamelah=20 Leddy, a vice president with McAdams Wright Ragen, a Seattle-based=20 investment firm. "The company continues to do a lot of really positive=20 things =97 entering new markets, expanding market share," Leddy said,=20 singling out such moves as the carrier's new direct service between Seattle= =20 and Miami. "They're certainly in a stronger financial position than a lot=20 of the other airlines." As United Airlines and US Airways struggle in Chapter 11 bankruptcies, and= =20 other major airlines collectively reported billions in losses in 2002,=20 Alaska Air's losses have not been as deep. The company has benefited from=20 its dominance in carrying traffic to and from Alaska, Kelly said in a=20 conference call with analysts. But the company also announced its=20 "aggressive goal" to cut costs on Alaska Airlines' to 7.85 cents per air=20 seat mile in 2005, down from 8.52 cents per air seat mile. It's "doable,"=20 said Ray Neidl, an analyst with Blaylock and Partners LP. "They know=20 they've got to remain cost-competitive." For 2002, Alaska Air reported a=20 loss of $118.6 million, or $4.47 a share compared with $43.4 million, or=20 $1.64 a share in 2001. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@escape.ca Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Site of the Week: www.pichemas.com TnT Webdirectory: http://search.co.tt *********************************************************