Streetbeat News

ALK

Alaska Air Group, Inc.

https://www.alaskaair.com

Industry

Airlines, Airports & Air Services

Alaska Air Group, Inc., through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc. was founded in 1932 and is based in Seattle, Washington.

Open

51.50

Mkt cap

6.4B

Volume

1.6M

High

52.15

P/E Ratio

20.31

52-wk high

52.15

Low

50.99

Div yield

N/A

52-wk low

32.00

Alaska Air is expected to receive 10-20 Boeing 737 Max aircraft deliveries in 2024, a decrease from the 23 aircraft received previously, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:37 pm

During a conference call, Alaska Air's CFO stated that there is no indication of demand slowing down and the company does not anticipate any decrease in demand.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:10 pm

Alaska Air's CFO reported in a conference call that the economy is expanding, supported by wage growth and improving consumer sentiment. Trends indicate a continuing preference for spending on travel and experiences over goods.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:56 pm

Alaska Air's executive mentioned uncertainty around aircraft delivery timings following a grounding, leading to the extension of retirements for several older aircraft. However, Q2 bookings are encouraging with healthy yields in April and beyond. The latter half of the year is expected to perform well due to industry capacity constraints.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:50 pm

An executive from Alaska Air (ALK) stated during a conference call that they do not anticipate any reduction in corporate travel in Q2, suggesting a positive outlook for the company's business travel segment.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:44 pm

Alaska Air's CEO emphasized the significance of their long-standing partnership with Boeing during a conference call, highlighting its importance to the company's success.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:42 pm

Alaska Air's CEO announced during a conference call that they will hold Boeing to the highest standards for quality directly from the factory, emphasizing the importance of aircraft quality and safety.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:40 pm

United Airlines Holdings Inc (UAL) will receive compensation from Boeing Co (BA) for Q1 financial losses due to the grounding of 737 MAX 9 aircraft. The compensation includes credit memos for future purchases, which will be accounted as a reduction to the cost basis of the aircraft. United's Q1 earnings were impacted by approximately $200 million from the grounding, but 78 of 79 aircraft have since returned to service. Boeing's reputation has been damaged by the incident, affecting its management and production.

Portfolio Pulse from Shivani Kumaresan

April 18, 2024 | 1:48 pm

Alaska Air shares are trading higher following the announcement of better-than-expected Q1 results.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:10 pm

Alaska Air Group, Inc. (NYSE:ALK) reported a 2% year-over-year increase in Q1 2024 operating revenue to $2.232 billion, surpassing consensus estimates. Despite a decline in adjusted EPS to $(0.92) from $(0.62) a year ago, it beat the consensus of $(1.05). The quarter was significantly impacted by the grounding of the Boeing 737-9 MAX, leading to a $162 million compensation from Boeing. ALK also announced the acquisition of Hawaiian Airlines and provided positive Q2 and full-year 2024 guidance, despite revising growth expectations due to reduced aircraft deliveries from Boeing.

Portfolio Pulse from Akanksha Bakshi

April 18, 2024 | 12:47 pm

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