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Alaska Air Group‘s fourth-quarter net income nearly doubled to $78 million, or $1.11 per share, from $44 million or 61 cents per share a year earlier, the company said Thursday.

For the year, the Seattle-based carrier said its net income was $508 million, or $7.16 per diluted share, compared to net income of $316 million, or $4.40 per diluted share in 2012.

The company’s strong financial performance yielded $105 million in incentive pay for the year, amounting to nearly five weeks of pay for most employees.

The company said it also fully funded its defined benefit pension plans in 2013.

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