Alaska Air Group

Air Canada loses cargo VP to US regional carrier

Air Canada cargo chief Jason Berry is leaving after two years to return to Seattle-based Alaska Air Group as vice president of operations at regional carrier Horizon Air, the parent company announced Thursday. 

Less than a month ago, Air Canada was hailing Berry’s selection as “Cargo Executive of the Year” by industry publication Air Cargo World.

Two sources close to Berry said he decided to leave Air Canada for family reasons. His wife is of Japanese descent and wasn’t happy in Montreal, where...

https://www.freightwaves.com/news/air-canada-loses-cargo-vp-to-us-regional-carrier

Strong balance sheet, fed bailout put Alaska Airlines on recovery path

A white 737 MAX with Native Alaskan logo on tail sits in front of a hanger on wet pavement. Ground view from the side.

Alaska Air Group (NYSE: ALK) executives are optimistic about the summer flying season once COVID-19 vaccinations become more widespread. During Tuesday’s earnings call they said the carrier is well positioned to capitalize on economic recovery because of a well-managed balance sheet, aggressive cost cutting and generous federal support.

The Seattle-based company reported a fourth-quarter adjusted net loss of $316 million or minus $2.55 per diluted share. For the year, Alaska Air lost $1.3...

https://www.freightwaves.com/news/strong-balance-sheet-fed-bailout-put-alaska-airlines-on-recovery-path

Alaska Air warns of increased cash burn in January

A white Alaska Airlines jet banks to the left during its climb into a blue sky, view from behind.

The jump in passenger traffic for U.S. airlines during the Thanksgiving and Christmas holidays was a mirage, not a sustainable source of revenue for overcoming the coronavirus crisis. On Thursday, Alaska Airlines said passenger volume and revenue since October has retreated again and Delta Air Lines (NYSE: DAL) sounded less optimistic about the next few months.

Ahead of a Jan. 26 earnings release, Alaska Air Group (NYSE: ALK) indicated that it will drain its pool of cash at a faster rate in the...

https://www.freightwaves.com/news/alaska-air-warns-of-increased-cash-burn-during-january

Alaska Air takes $399 million Q3 loss, but reduces cash burn

A white jet with blue tail and native Alaskan painted on tail, on ascent through the sky.

Alaska Air Group (NYSE: ALK) on Thursday reported a wider than expected adjusted net loss of $399 million in the third quarter versus 2019, with total revenue falling 71% to $701 million.

The adjusted net loss was $40 million lower than for the second quarter. Cargo and miscellaneous revenue was 25% lower at $45 million. 

Alaska lowered its daily cash burn in the quarter to $4 million per day from $5 million daily in the second quarter.  

The airline achieved an adjusted earnings per share of...

https://s29755.pcdn.co/news/alaska-air-takes-399-million-q3-loss-but-reduces-cash-burn

Alaska Air wins by losing less

A white jet comes in for landing.

Investors rewarded Alaska Air Group (NYSE: ALK) for reporting first-quarter losses and cash burn projections that beat expectations, with the stock up 1.15% to $29.10 per share at Tuesday’s market close.

The parent company of Alaska Airlines and Horizon Airlines said its first-quarter adjusted net loss was $0.82 per share, or $102 million, ahead of Wall Street’s consensus of a $1.14 loss per share. Total revenue fell 13% to $1.6 billion compared to analyst estimates for $1.7 billion compared to...

https://s29755.pcdn.co/news/alaska-air-wins-by-losing-less

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