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

United Airlines Holdings Inc. (UAL) is resuming flights with Boeing Co.'s (BA) 737 Max 9 aircraft after a temporary grounding. The grounding was due to an incident involving an Alaska Air Group Inc (ALK) flight where a door plug blew out mid-flight. The FAA has given final approval for the Max 9 fleet's return. United, a major Boeing customer, had expressed concerns over Boeing's quality control. Alaska Airlines has already restarted Max 9 operations, with Aeromexico and Turkish Airlines expected to follow. Boeing has committed to improving quality standards to regain confidence from customers, regulators, and the public.

Portfolio Pulse from Bibhu Pattnaik

January 28, 2024 | 4:05 pm

The FAA has not approved Boeing's (NYSE:BA) planned expansion for the 737 Max aircraft due to quality issues, but has allowed the 737 Max 9 to return to service for United Airlines (NASDAQ:UAL) and Alaska Air Group (NYSE:ALK). Moody's maintained Boeing's Baa2 rating with a stable outlook, despite considering the news as 'one step forward, two steps back.' Alaska Air plans to resume flights with the 737 Max 9, and United Airlines is expected to follow. Boeing's stock is up 1% on Friday but down 21% YTD.

Portfolio Pulse from Chris Katje

January 26, 2024 | 7:34 pm

Alaska Air announced the return of their first 737-9 MAX planes to service while final inspections are ongoing. The airline expects to complete inspections on all 737-9 MAX aircraft by the end of next week. Alaska Air will resume flights with the 737-9 MAX starting with Flight 1146 from Seattle to San Diego on January 26.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 5:39 pm

Delta Air Lines Inc (DAL) topped The Wall Street Journal's annual airline rankings for the third consecutive year, demonstrating strong operational efficiency and customer service. Alaska Air Group Inc (ALK) and Allegiant Travel Company (ALGT) followed in second and third place. However, JetBlue Airways Corporation (JBLU) ranked at the bottom due to congested airspace over New York City. The industry overall showed improved performance with the best on-time arrival rate since 2019, though challenges like baggage handling, tarmac delays, and passenger complaints persist. American Airlines Group Inc (AAL) and United Airlines Holdings Inc (UAL) have made significant improvements, but the progress in reducing flight cancellations and delays remains uneven across carriers.

Portfolio Pulse from Michael Cohen

January 26, 2024 | 5:23 pm

Boeing Company (NYSE:BA) is expected to resolve its production challenges with the anticipated certification of the 737 MAX 10 aircraft. Avolon CEO Andy Cronin believes the impact of the FAA's halt on Boeing's production increase will be minimal this year. However, increased regulatory scrutiny could lead to delays in the aviation industry's recovery from the COVID-19 pandemic production shortfall. Alaska Air Group, Inc. (NYSE:ALK) experienced a panel malfunction incident with a Boeing jet, raising global concerns. Despite this, Avolon remains confident in the safety of the MAX aircraft and in Boeing's ability to overcome these challenges. Boeing's shares were trading higher by 0.65% at $203.20 in the premarket.

Portfolio Pulse from Nabaparna Bhattacharya

January 26, 2024 | 2:01 pm

Alaska Air Group, Inc. (ALK) reported Q4 operating revenue of $2.55 billion, a 3% increase Y/Y, and an adjusted EPS of $0.30, beating consensus estimates. Shares rose 5.5%. Other stocks also saw gains, including Vera Therapeutics (VERA), AlTi Global (ALTI), and United Rentals (URI), following positive news such as earnings beats, analyst upgrades, and trial data. Xerox (XRX) and American Airlines (AAL) also moved higher after reporting their financial results.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 6:26 pm

Alaska Air's executive announced that within 8 days, the MAX 9s will be fully deployed. Additionally, the CEO reported receiving a faulty door plug from Boeing, which is unrelated to previous light or pressurization issues.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 5:30 pm

Alaska Air Group Inc (ALK) reported Q4 operating revenue of $2.55 billion, a 3% Y/Y increase, and adjusted EPS of $0.30, beating estimates. The company is inspecting its Boeing 737 MAX 9 fleet and expects a $150 million earnings hit in 2024 due to the grounding incident. Alaska Air's 2024 earnings guidance of $3-$5 per share is below the consensus of $4.85, factoring in the impact of the Boeing fleet grounding. ALK shares rose 3.21% to $36.97.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 3:38 pm

China has given Boeing Co (NYSE:BA) approval to resume deliveries of its 737 MAX 8 aircraft to Chinese customers, ending a two-year suspension. The first 737 MAX 8, registered to China Southern Airlines (NYSE:ZNH), is currently grounded in Hawaii. This comes as Boeing faces FAA restrictions on expanding production of its narrowbody planes due to a recent cabin panel blowout incident on a 737 MAX 9 jet operated by Alaska Airlines. The resumption of deliveries in China could help Boeing amid its operational challenges and ongoing US scrutiny.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 1:38 pm

Alaska Air Group reported a reduction in its Q4 Cost per Available Seat Mile (CASM) excluding fuel and special items by 6.6% year-over-year, and a 2.6% reduction for the full year compared to 2022.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 11:10 am

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