Airlines in the United States and abroad have become increasingly competitive, with prices dropping by an average of 35 percent over the past decade.
But the aviation industry has struggled to get enough planes on the air, as competition from cheaper carriers has kept prices low.
Now, with a few more flights a day, airlines in the U.S. and abroad are finding ways to squeeze even more profit out of their fleets.
Alaskan Airlines is among the most successful carriers in the world, with revenue of $4.7 billion in 2017.
The company flies about 40,000 flights a year to nearly 2 million passengers, most of them tourists from Europe and Asia.
It flies more than 4,000 commercial flights a month, and it has been the fastest growing airline in the country, growing by 12 percent last year.
Alaska Airlines, which has been based in Anchorage since 1976, is among Alaska’s top competitors, according to a recent report from research firm Morningstar.
The airline has the best economy economy routes, according the report.
Its average price per seat, which includes fares, fuel, and a one-way flight, was $6,532 last year, up from $5,857 a decade earlier.
Alaska has also cut its fuel prices by 15 percent since 2007, according an Associated Press article.
The report also noted that Alaska Airlines has the most profitable airline in Alaska, according with Morningstar, which said Alaska Airlines’ average profit per passenger fell from $12,924 in 2015 to $11,868 in 2017, a 27 percent drop.
Alaska said in a statement that its business model has evolved since the mid-2000s.
“The Alaska business model is not only focused on providing a reliable, competitive, and cost-effective travel experience, but also is driven by the desire to provide our customers with the best possible value,” the statement read.
“We believe that our customer-driven approach is a successful model for our business.”
Alaska is also the world’s largest air carrier, with nearly 2.2 million miles of domestic flights.
The Alaska Airline Corporation operates some of the most famous commercial aircraft in the industry, including the Boeing 737 MAX, the Boeing 777, and the Boeing 747.
Alaska is currently on a $1.6 billion buyback program, according Alaskans Business News.