Alaska Airlines and Horizon Air parent Alaska Air Group reported 2007 net income of $125 million, reversed from a net loss of $52.6 million in 2006, on a 5.4% boost in revenue to $3.51 billion. The company posted fourth-quarter net income of $7.4 million, turned around from an $11.6 million net loss in the year-ago quarter, but acknowledged that the profit was attributable to "fuel hedge accounting adjustments." Excluding the impact of the adjustments, it said it would have sustained a loss ...

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