Alaska Air Group Issues Q1 Updated Expectations - Quick Facts

(RTTNews) - Alaska Air Group, Inc. (ALK) said Air Group's first quarter performance is now on track to exceed the expectations the company held coming into the year. For the first quarter of 2024, the company expects adjusted loss per share in a range of $0.55 to $0.45. Capacity, measured in ASMs, are projected to decline approximately 2.5%.

Alaska Air Group noted that, as a result of Flight 1282 and the Boeing 737-9 MAX grounding, its profitability was negatively impacted by at least $150 million. To date, the company has received partial compensation from Boeing, which will be accounted for in earnings in first quarter. The company's adjusted loss per share guidance reflects this compensation, and approximately $0.30 remaining impact from the grounding.

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