Alaska Air Group Inc
- Alaska Air Group jumped 4.4% to $44.66 after the regional airline reported better-than-expected quarterly results.
Revenue in the March quarter increased 2% to $2.23 billion from $2.19 billion, net loss shrank to $132 million from $142 million, and diluted loss per share contracted to $1.05 from $1.11 a year ago.
The company received $162 million in compensation from Boeing related to Flight 1282 and the Boeing Max plane grounding ordered by the Federal Aviation Authority.
The company said it expects additional payments from Boeing.
The company's purchase of Hawaiian Airlines for $18 a share was approved by Hawaiian shareholders, and the proposed merger needs regulatory approval.
Alaska Air projected earnings per share for the second quarter between $2.20 and $2.40 and for full-year 2024 between $3.25 and $5.25.
Apr 18, 2024
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