Alaska Air sets profit record, 8% bump, in '99

SEATTLE -- Alaska Air Group Inc., based here, reported a record profit of $134 million in 1999, up 8% from 1998.

The company, which owns Alaska Airlines and Horizon Air, recorded revenue of $2.1 billion, up 10%.

Profits sank 37% in the fourth quarter, however, on revenue that increased 10%, to $502 million.

According to chairman and chief executive John F. Kelly, the company is well positioned for this year, despite increases in costs driven mainly by year-over-year price increases for fuel.

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