Horizon posted an $8.3 million pre-tax income in the third quarter on $196.9 million in operating revenues, an 11.7 percent increase over the year-ago period. For the nine months, net took a huge swing from the year-ago period, dropping from $15.2 million profit to a loss of $5.8 million. Operating revenues for the nine months grew 10.6 percent to $526.4 million. Expenses grew 8.6 percent in the quarter to $185.2 million, and 14.1 percent to $535.3 million for the nine months.
In the quarter, Horizon Air flew 2.1 billion passengers, up 14.8 percent, while RPMs grew 15.9 percent to 837 million. ASMs rose 14 percent to 1.084 billion resulting in a passenger load factor of 77.2 percent, up 1.3 points. Yield dropped 3.5 percent to 23.24 cents while operating revenue per ASM dropped two percent to 18.16 cents. Operating expenses per ASM dropped 4.8 percent to 17.08 cents but was 13.15 cents ex fuel and transition costs. For a complete report, including a response to suggestions the regional carrier should be spun off of Alaska, see the next issue of Regional Aviation News.