At the moment, we introduced our monetary outcomes from the final three months, and it contains excellent news for visitors, staff, the communities we serve and our shareholders. Dive into all of the monetary particulars right here, however these are the principle takeaways:
We’re operating a robust, dependable operation.
Our enterprise is advanced, however on the finish of the day, our 23,000 staff are working collectively to get you safely from level A to level B.
This quarter, our staff was operating on all cylinders and carried that momentum into the July 4th vacation week (the place we welcomed almost 1 million visitors). On June 30th, we flew essentially the most visitors in a single day ever in our historical past whereas main the {industry} in completion charge (lowest charge of cancellations of any airline) with a 99.59% grade this quarter. We additionally labored exhausting to get you to your vacation spot on time – with over 82% of flights arriving inside quarter-hour of the scheduled time.
“Individuals are hungry to journey, and our frontline staff are delivering the protected, dependable and caring expertise that folks count on after they fly with us,” mentioned CEO Ben Minicucci. “I’m so pleased with our staff for knocking it out of the park and delivering industry-leading operational and monetary outcomes. We selected to prioritize reliability, which is crucial to restoring stability, enhancing predictability for our visitors and staff, capturing report income, and serving as the inspiration for our long-term worthwhile development.”
Our investments in new plane, coaching sources and staffing have ready us to indicate up nicely in your vital summer time journey, and we couldn’t be prouder of our groups.
Our Mileage Plan program ranks above the remainder.
Our Mileage Plan program was simply acknowledged as being the greatest airline rewards program by U.S. Information & World Report. It’s no secret to our visitors who earn and redeem miles with us that you simply simply get extra with our Mileage Plan program in comparison with different loyalty applications.
Think about using your hard-earned miles on a dream trip to greater than 120 locations throughout the USA, Belize, Canada, Costa Rica, Bahamas, Guatemala and Mexico or to greater than 1,000 international locations on our companion airline. Proper now, you’ll be able to fly from Seattle to Tahiti on our companion Air Tahiti Nui beginning at simply 30,000 miles!
We’re investing again into our enterprise.
Even amid rising prices like gas, our pre-tax margin (the share of cash we made in any case our bills however earlier than paying taxes) is more likely to lead the {industry} this quarter. All meaning is we’re managing our funds in a method that enables us to climate any future downturns and proceed investing in a greater visitor expertise. So, how are we spending the cash we made?
Investing in our folks
Our staff are the guts of the whole lot we do. We spend money on aggressive wages and complete advantages, expanded coaching alternatives and incentives when our staff performs nicely. Due to their industry-leading efficiency over the past three months, staff earned greater than $7 million in a quarterly incentive payout (which we name Operational Efficiency Rewards (OPR) and is break up amongst all staff). We’ve additionally accrued roughly $100 million within the first half of the 12 months in the direction of our finish of 12 months Efficiency-Based mostly Payout (PBP), which rewards staff for his or her progress on monetary, operational and security objectives.
Shopping for new plane
Every month we’re taking supply of newer, extra fuel-efficient plane. Of the 251 new planes we’ve ordered, we have already got 53 in our fleet. This brisker fleet provides visitors that new airplane scent all of us love and will increase our gas effectivity by 15-25% in comparison with earlier technology plane, to assist us attain our rigorous sustainability objectives by 2040.
Enhancing the airport expertise
We wish each visitor to get pleasure from their flying expertise from the second they step into an airport to after they board our plane, which is why we’re investing greater than $2.5 billion to reimagine and modernize our largest hubs. You possibly can see a part of this funding up shut within the newly renovated D Concourse Lounge in Seattle, which now has 50% extra seating.
New locations and extra communities served
We’ve been on a roll asserting dozens of latest dots on the map from worldwide routes (just like the Bahamas and Guatemala) to yard Pacific Northwest gems in Bend, Yakima, Wenatchee and extra. We’re thrilled to attach our visitors to extra of the locations they need to go.
Quarterly experiences may sound like they’re solely related for Wall Road, however after we carry out nicely, it advantages everybody who issues to us. See you subsequent quarter!
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