Alaska Air Group (AAG), parent of Alaska Airlines (AS) and Horizon Air, reported 2011 net income of $244.5 million, up 2.6% from $225.1 million year-over-year, in its second consecutive year of record earnings.

AAG Chairman and CEO Bill Ayer told investors and reporters that the improvement was the result of company initiatives, including “schedule optimization and network expansion, high load factors, lower non-fuel unit costs and operational performance.”

Iberia (IB) and unions representing flight attendants reached an accord, averting a strike to protest the possible impact on their jobs due to Iberia Express. The 4,000 cabin crew had planned to walk out Feb. 3, 6, 10 and 13.

However, the airline’s pilots are still moving ahead with their industrial action Friday and Monday (ATW Daily News, Jan. 25).

Porter Airlines launched 3X-daily Toronto-Timmins, Ontario service.

Bangkok Airways (PG) and Finnair (AY) have signed a codeshare agreement beginning Jan. 15. AY will place its code on PG service between Bangkok and Samui, Phuket, Chiang Mai, as well as Singapore-Samui service and Hong Kong-Samui service.

Iberia has increased 4X-weekly Madrid-Panama City service to 5X-weekly.

Republic Airways Holdings (RAH) has named airline executive David Siegel as CEO, president and interim COO of subsidiary Frontier Airlines (F9) to lead its restructuring program.

The European Commission (EC) has opened an investigation to assess whether the transatlantic joint venture (JV) between Air France-KLM (AF-KL), Alitalia (AZ) and Delta Air Lines (DL) breaches EU antitrust rules.