Alaska Air Group, Inc. - ALK STOCK NEWS

Alaska Air Group (NYSE: ALK) reported a net loss of $142 million for Q1 2023, a slight improvement from a $143 million loss in Q1 2022. Excluding special items, the adjusted net loss was $79 million, compared to $167 million a year prior. The company anticipates a double-digit adjusted pre-tax margin in Q2 2023, with full-year guidance sustained at 9% to 12%. Key operational achievements include a 6% productivity increase and a doubling of pilot training throughput. They resumed share repurchases, purchasing $18 million worth of shares, and hold $2.4 billion in cash. Alaska established new partnerships for sustainable aviation fuel and enhanced customer offerings with new flight routes and benefits.

Alaska Air Group Inc. (NYSE: ALK) will hold its quarterly conference call on April 20, 2023, at 11:30 a.m. EDT to discuss its first-quarter financial results for 2023. The call will be available via a public webcast, which can be accessed on the company's investor relations website. An archive of the call will also be made available later that day.

As the parent company of Alaska Airlines and Horizon Air, Alaska Air Group serves over 120 destinations across the United States and various international locations. The airline focuses on providing exceptional customer service and has a strong loyalty program, positioning itself as a member of the oneworld alliance, offering access to more than 900 destinations worldwide.

On April 4, 2023, Alaska Airlines announced a partnership with the Surfrider Foundation to protect coastal habitats and reduce plastic waste across the West Coast and Hawaiian Islands. This initiative aims to engage employees and local communities in beach cleanups and education on ocean hazards. Alaska Airlines has made strides in sustainability, notably eliminating over 2.2 million pounds of plastic waste annually. The collaboration will also extend efforts in ongoing cleanup projects and advocacy against single-use plastics. Surfrider's CEO praised Alaska Airlines for its commitment to sustainability, reflecting a shared vision for healthier coastal ecosystems.

Alaska Airlines has entered into a significant collaboration with Shell Aviation to enhance the sustainable aviation fuel (SAF) market. Announced on March 23, 2023, the partnership aims to establish a robust fuel supply chain and address the infrastructure challenges associated with SAF. As part of the agreement, Shell will supply up to 10 million gallons of neat SAF to Alaska Airlines at Los Angeles. The collaboration focuses on advancing SAF technology, carbon accounting, and public policy support, with particular attention to the West Coast. This initiative supports Alaska Airlines' goal to achieve net zero emissions by 2040, highlighting SAF’s potential to reduce lifecycle emissions by up to 80%.

Alaska Airlines is collaborating with Hawaiʻi-based illustrator Shar Tuiʻasoa to create a special-edition painted aircraft that celebrates over 15 years of service in Hawaii. Scheduled for reveal later this year, the design will embody Hawaiʻi's Pledge To Our Keiki, emphasizing environmental care and indigenous culture. Tuiʻasoa is known for her vibrant artistic style and has worked with major brands. The airline aims to honor its connection to Hawaii and promote mindful travel. This follows Alaska's previous Hawaiʻi-themed aircraft, which was retired after nearly a decade of service.

Alaska Air Group Inc. (NYSE: ALK) announced a live webcast of a fireside chat with CFO Shane Tackett on March 14, 2023, at 3:40 p.m. ET during the JP Morgan Conference. Interested investors can access the presentation at investor.alaskaair.com.

Alaska Airlines, part of Alaska Air Group, services over 120 destinations in the U.S., Canada, Belize, Costa Rica, and Mexico. Renowned for excellent customer service, Alaska Airlines is a member of the oneworld global alliance, which expands travel options to more than 900 destinations worldwide.

Alaska Airlines celebrates the one-year anniversary of its Flight Pass subscription service, offering a promotion for new subscribers. From February 23 to March 8, 2023, new customers can enjoy a 20% discount for the first three months. Launched in February 2022, Flight Pass allows subscribers to book flights without blackout dates, with prices starting at $49 per month. The service exceeded its first-year projections and expanded to Utah without increasing costs. Popular among Millennials and Generation X, it serves mostly Northern California, connecting key destinations like San Francisco and Las Vegas.

Alaska Air Group reported robust financial results for 2022, achieving a record annual revenue of $9.6 billion, marking a 10% increase from 2019. The full-year adjusted pretax margin stood at 7.6%. Net income for the fourth quarter was $22 million ($0.17 per diluted share), while full-year net income reached $58 million ($0.45 per diluted share). The company plans to resume share repurchases of $75 to $100 million in 2023, maintaining a debt-to-capitalization ratio of 49%. Additionally, employees received performance-based bonuses totaling 10.5% of annual pay, the highest in 20 years.

Alaska Airlines has transitioned to paper cups for inflight beverages, eliminating over 55 million plastic cups annually. This move positions Alaska Airlines as the first U.S. airline to ban plastic cups, reducing plastic waste by approximately 2.2 million pounds each year, equating to the weight of 24 Boeing 737s. The airline has been progressively eliminating plastic waste since 2018, including the removal of plastic straws and stir sticks. Alaska Airlines is committed to sustainability, aiming for net zero carbon emissions by 2040 and encouraging passengers to reduce waste through initiatives like #FillBeforeYouFly.