Alaska Air Group, Inc., headquartered in Seattle, Washington, has released an investor update on September 12, 2024, detailing its financial and operational outlook. The update, which includes forward-looking statements, provides revised expectations for the third quarter of 2024. The company expects capacity to increase by 2% to 3% compared to the previous year, with cost per available seat mile (CASM) expected to rise by high single digits. Revenue per available seat mile (RASM) is anticipated to increase by approximately 2%, a positive shift from previous flat to positive expectations. Economic fuel costs are projected to be lower than previously estimated, at $2.60 to $2.70 per gallon. As a result of these updates, Alaska Air has raised its earnings per share (EPS) guidance for Q3 2024 to $2.15 to $2.25, up from...Show More

Alaska Air Group, Inc., headquartered in Seattle, Washington, has released an investor update on September 12, 2024, detailing its financial and operational outlook. The update, which includes forward-looking statements, provides revised expectations for the third quarter of 2024. The company expects capacity to increase by 2% to 3% compared to the previous year, with cost per available seat mile (CASM) expected to rise by high single digits. Revenue per available seat mile (RASM) is anticipated to increase by approximately 2%, a positive shift from previous flat to positive expectations. Economic fuel costs are projected to be lower than previously estimated, at $2.60 to $2.70 per gallon. As a result of these updates, Alaska Air has raised its earnings per share (EPS) guidance for Q3 2024 to $2.15 to $2.25, up from the prior estimate of $1.40 to $1.60. The company attributes the improved revenue performance to strong demand during the summer travel period, a record schedule, and a high completion rate of 99.3% for the quarter to date. The update also mentions the impact of industry-wide disruptions caused by CrowdStrike in July and continued strength in August and September.