Alaska Air Group reported a "record" first-quarter net profit, excluding fuel hedge adjustments, of $44 million.

Including all special items, the company posted a $37 million net profit, down slightly from $41 million in the year-earlier period. The airline during the quarter grew faster than any other major U.S. carrier, with passenger traffic, capacity and revenue each up about 9 percent. "Our record performance in what is seasonally our weakest quarter is due to steady demand that kept pace with our growth," according to CEO Brad Tilden.