Alaska Air Group, Inc. - ALK STOCK NEWS

Alaska Airlines has finalized a monumental agreement with Gevo to purchase 185 million gallons of sustainable aviation fuel (SAF) over five years starting in 2026. This commitment aligns with Alaska's ambition to achieve net zero carbon emissions by 2040 and is part of its strategy focusing on operational efficiency and fleet renewal. The partnership with Gevo is crucial for scaling up SAF production, emphasizing its role in decarbonizing the aviation sector. Alaska has been a pioneer in SAF usage, having previously conducted the world's first commercial flight with SAF in 2016.

Alaska Airlines has introduced a new range of gluten-friendly, plant-based, and vegan meal options on its flights to meet customer demand. The highlight is the 'Soy Meets World' salad, developed in collaboration with Evergreens, featuring fresh ingredients like roasted broccoli and quinoa. The airline boasts the most comprehensive food and beverage program in the U.S., offering multiple meal choices across various classes, including pre-order options for passengers. These offerings emphasize Alaska's commitment to providing healthy dining choices inspired by West Coast flavors.

Alaska Air Group (NYSE: ALK) reported record quarterly revenues of $2.7 billion for Q2 2022, with a net income of $139 million, or $1.09 per share. The company achieved a record load factor of 88% and a 14% adjusted pretax margin, demonstrating improved operational performance. The airline generated $948 million in operating cash flow and maintained $3.4 billion in cash reserves. For Q3 2022, Alaska expects a 16%-19% increase in total revenue compared to 2019, despite a capacity decrease of 5%-8%.

Alaska Airlines is set to become the first U.S. airline to introduce an electronic bag tag program later this year, allowing travelers to tag their luggage from home via the mobile app. The initiative aims to enhance efficiency, enabling passengers to drop off bags in under three minutes, reducing wait times by 40%. The initial rollout will involve 2,500 frequent flyers, with plans for wider availability in early 2023. Partnering with BAGTAG, the durable tags do not require batteries and promise to modernize the check-in process.

On July 14, 2022, Twelve, Alaska Air Group (ALK), and Microsoft (MSFT) signed a Memorandum of Understanding to advance sustainable aviation fuels (SAF). The collaboration targets the production of Twelve's E-Jet®, a low carbon jet fuel derived from renewable energy and captured CO₂. This initiative aims at a demonstration flight in the U.S. and supplying E-Jet® for Microsoft's business travel. Alaska Airlines is committed to achieving net-zero emissions by 2040, and this partnership is pivotal in promoting SAF's scalability and adoption.

Alaska Air Group will conduct its quarterly conference call to report on second-quarter 2022 financial results on July 21, 2022, at 11:30 a.m. EDT. Investors and the public can access the call via a webcast on the company’s investor relations website. An archived version will be available shortly after the call.

Alaska Airlines operates over 120 destinations in the U.S., Canada, and beyond, focusing on affordability and customer service.

Alaska Airlines commemorates its 90th anniversary by rewarding employees with 90,000 travel miles. This initiative recognizes their dedication during the pandemic, as airline staff remained essential workers amidst ongoing challenges. CEO Ben Minicucci emphasized the significance of employees in achieving this milestone, noting their unwavering commitment to customer care. The miles offer flexible travel options across various destinations and partner airlines, enabling employees to explore almost any part of the globe.

On June 17, 2022, Alaska Airlines appointed Celley Buchanan as vice president of airport operations and customer service. With a 23-year tenure at Alaska Airlines and Horizon Air, Buchanan has held various leadership roles, including managing director of airport operations support since 2020. She was instrumental in launching the airline's Next-Level Care program during the pandemic, enhancing safety measures. Buchanan's extensive experience in operational leadership aims to elevate team performance and safety standards across the airline's network.

Alaska Airlines has announced the launch of five new nonstop routes, enhancing service from Seattle to Cleveland and Miami, as well as expanding flights from Boise to Idaho Falls and Las Vegas. Starting June 18, a new route between Anchorage and Salt Lake City will also be introduced. Strong ticket sales underline growing demand for these routes, indicating a robust recovery in travel. Cleveland becomes the third Ohio city served by Alaska Airlines, while the Miami route marks a return after a decade. The expansion will increase nonstop destinations from Seattle to 100.