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

52.93

Mkt cap

6.8B

Volume

1.8M

High

54.00

P/E Ratio

21.00

52-wk high

54.00

Low

52.93

Div yield

N/A

52-wk low

32.00

The Airline Group has announced that U.S. airline passenger travel is expected to set a new record in March and April, with a 6% increase over 2023 levels, according to Reuters.

Portfolio Pulse from Happy Mohamed

March 19, 2024 | 6:59 pm

A LATAM flight's nosedive, initially feared to be a Boeing 787 Dreamliner malfunction, was likely caused by a cockpit seat mishap. A flight attendant accidentally activated a switch, pushing the pilot into the controls. Boeing, already under scrutiny for a separate incident with an Alaska Airlines Boeing 737 Max 9, saw its shares drop 30% since the year's start. Airline stocks, including Southwest Airlines and American Airlines, have also suffered, with the U.S. Global Jets ETF experiencing a decline.

Portfolio Pulse from Neil Dennis

March 15, 2024 | 12:46 pm

Alaska Airlines' aircraft maintenance technicians and related employees, represented by AMFA, have ratified a new five-year contract. This agreement includes increased pay, retirement contribution increases, and quality of life improvements. It was negotiated over 12 months and is part of Alaska Airlines' efforts to secure seven contracts across six represented groups since 2022. The contract, effective from October 17, 2023, aims to attract and retain skilled professionals by offering competitive benefits.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 5:22 pm

Boeing Co (BA) and Spirit AeroSystems (SPR) faced significant setbacks after failing multiple audits by the FAA, following an incident with an Alaska Air (ALK) 737 Max jet. Boeing's shares dropped 4.2% after the FAA's findings were publicized, which highlighted issues including a faulty door plug. Spirit AeroSystems, a supplier to Boeing, saw its shares fall 7.78% after failing several tests. Additionally, a Boeing whistleblower was found dead under suspicious circumstances, and a Boeing 787 experienced a severe midflight issue, leading to an investigation by New Zealand's TAIC.

Portfolio Pulse from Neil Dennis

March 12, 2024 | 10:01 pm

At the J.P. Morgan Industrials Conference, Alaska Air's CEO commented that the judge's decision on the JetBlue-Spirit deal is beneficial for Alaska Air. He also noted that Alaska Air's agreement with Hawaiian Airlines is distinct from the JetBlue-Spirit merger.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:42 pm

The US Justice Department has initiated a grand jury for a criminal investigation into a Boeing Co. door plug incident on an Alaska Airlines flight on Jan. 5. This move indicates a deepening probe into Boeing's potential criminal liability.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:16 pm

U.S. Transportation Secretary Pete Buttigieg announced the FAA will rigorously assess Boeing (BA) following a fuselage blowout on an Alaska Air (ALK) flight in January. Boeing faces a criminal investigation by the Justice Department after multiple flight incidents, including difficulty in locating records related to a malfunctioning door panel. United Airlines (UAL) also experienced incidents, highlighting aviation safety concerns. Boeing previously reached a $2.5 billion settlement with the Justice Department and is committed to a compliance program.

Portfolio Pulse from Shivani Kumaresan

March 11, 2024 | 10:17 am

Boeing Company (NYSE:BA) reported missing records for a critical component's elimination during the production of a 737 MAX 9, which malfunctioned mid-air. The National Transportation Safety Board (NTSB) found a door plug on an Alaska Air Group, Inc. (NYSE:ALK) 737 MAX 9 aircraft lacked essential bolts, leading to grounding by the FAA and a mandate for Boeing to address quality-control issues.

Portfolio Pulse from Nabaparna Bhattacharya

March 09, 2024 | 9:20 pm

Boeing Company (NYSE:BA) is revising its bonus structure to prioritize safety and quality, making them account for 60% of the payout in its commercial unit. This change, affecting over 100,000 nonunion employees, comes after safety incidents and FAA concerns. Alaska Air Group Inc (NYSE:ALK) experienced a door panel detachment on a 737 MAX 9, highlighting the safety issues. Boeing's shares dropped 0.99% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 08, 2024 | 11:24 am

National Transportation Safety Board Chair Homendy emphasized the need for more cooperation from Boeing in the investigation of an Alaska Airlines Max 9 incident during a Senate hearing. This call for increased collaboration highlights ongoing safety and regulatory scrutiny for Boeing and its aircraft.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 3:59 pm

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