Alaska Airlines and Horizon Air 2009 Annual Report Download - page 135
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unit revenue excluding the impact that
changes in fuel costs have had on ticket
prices. Fuel expense represents a large
percentage of our total mainline operating
expenses. Fluctuations in fuel prices often
drive changes in unit revenue in the
mid-to-long term. Although we believe it is
useful to evaluate non-fuel unit costs for the
reasons noted above, we would caution
readers of these financial statements not to
place undue reliance on unit costs excluding
fuel as a measure or predictor of future
profitability because of the significant
impact of fuel costs on our business.
We currently forecast our mainline costs per
ASM excluding fuel and other special items for
the first quarter and full year of 2010 to be flat
and down 3%, respectively, compared to 2009.
The expected decline in unit cost stems from
lower pension costs and lower projected
incentive payments offset by modest increases
in other expense areas. Historical cost per ASM
excluding fuel and other special items can be
found in Item 6. “Selected Consolidated
Financial and Operating Data.”
Purchased Capacity Costs
Purchased capacity costs decreased $32.2
million compared to 2008. Of the total, $261.7
million was paid to Horizon under the CPA for 1.4
billion ASMs. This expense is eliminated in
consolidation.
39
ŠForm 10-K