Seattle-based Alaska Air Group Inc., parent company of Horizon Air, posted a 21.9 percent increase in net income in the third quarter compared to the same period last year, the company reported Thursday.

Alaska Air reported third-quarter earnings of $90.2 million, up from $74 million in the third quarter ended Sept. 30, 2004.

Horizon Air, however, saw its operating income drop to $10.2 million, from $16.8 million last year. Net income was not reported.

Horizon, which operates 11 flights out of the Redmond Airport, experienced a 13.6 percent increase in passenger traffic in third quarter 2005.

Alaska Air chairman and CEO Bill Ayer was pleased with the quarter.

”These numbers show that our employees’ hard work is paying off,” Ayer said. ”We are confident we are on the right track.”

However, Ayer was more cautious in forecasting business in the coming months.

”Our crystal ball is pretty murky, but right now we expect break-even results for the fourth quarter,” he said.

Horizon also announced this week that it has ordered 12 turboprop Q400s from Bombardier Aerospace of Canada. The planes are expected to be added to the fleet in late 2006. It’s unknown if any of the aircraft will be rotated into Redmond.

The turboprop order replaces a previous order for seven CRJ-700 regional jets. Horizon Air President and CEO Jeff Pinneo said the goal is to maximize efficiency in the Pacific Northwest.

”We had a few years of experience now with both aircraft, and the Q400’s fuel efficiency is a lot greater,” Pinneo said. ”Our needs are really close to home; we have markets that are underserved. With the Q400, we can increase our efficiency of service in those markets.”