Alaska Air Group reported Q2 2024 net income of $220 million on record quarterly revenue of $2.9 billion, down from $240 million profit a year ago. Operating revenue rose 2% year-over-year, driven by 2% higher passenger traffic and continued strength in premium cabins and loyalty program revenue. Economic fuel costs increased 3% to $2.84 per gallon, while unit costs excluding fuel decreased 2%.The company maintained a robust liquidity position with $2.5 billion in cash and marketable securities, up 40% from year-end 2023. Operating cash flow remained strong at $872 million for the first half of 2024. Alaska took delivery of nine new Boeing aircraft in Q2 while keeping its debt-to-capitalization ratio at 45%, within its target range of 40-50%.Management updated full-year 2024 guidance, lowering adjusted EPS forecast to $3.50-$4.50 reflecting a new flight attendant contract and moderating domestic revenue environment. The company expects Q3 capacity to grow 2-3% year-over-year with flat to positive unit revenue trends, while maintaining its fleet transition and network expansion plans despite some Boeing delivery delays.

Alaska Air Group reported Q2 2024 net income of $220 million on record quarterly revenue of $2.9 billion, down from $240 million profit a year ago. Operating revenue rose 2% year-over-year, driven by 2% higher passenger traffic and continued strength in premium cabins and loyalty program revenue. Economic fuel costs increased 3% to $2.84 per gallon, while unit costs excluding fuel decreased 2%.The company maintained a robust liquidity position with $2.5 billion in cash and marketable securities, up 40% from year-end 2023. Operating cash flow remained strong at $872 million for the first half of 2024. Alaska took delivery of nine new Boeing aircraft in Q2 while keeping its debt-to-capitalization ratio at 45%, within its target range of 40-50%.Management updated full-year 2024 guidance, lowering adjusted EPS forecast to $3.50-$4.50 reflecting a new flight attendant contract and moderating domestic revenue environment. The company expects Q3 capacity to grow 2-3% year-over-year with flat to positive unit revenue trends, while maintaining its fleet transition and network expansion plans despite some Boeing delivery delays.