(Refiles to correct dateline)
April 26 (Reuters) - Alaska Air Group Inc, the fifth largest U.S. carrier, reported a 46.2 percent fall in quarterly profit as its operating expenses swelled and average fares declined.
Net income fell to $99 million, or 79 cents per share, in the first quarter ended March 31, from $184 million, or $1.46 per share, a year earlier. Excluding items, the company earned $1.05 cents per share.
Passenger unit revenue, which compares sales to how many seats an airline flies and how far it flies them, fell 4.9 percent.
Total operating revenue rose 29.8 percent to $1.75 billion. (Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur)