Alaska Air Group Inc Stock Price, News & Analysis

Alaska Airlines has announced new seasonal nonstop flights to Jackson Hole, Wyoming, enhancing its service for outdoor enthusiasts. Starting December 17, 2020, flights will be available from Seattle, San Diego, and San Jose, with departures designed for convenient long weekend trips. The service will include five weekly flights from Seattle and San Diego, and twice weekly from San Jose, utilizing Embraer 175 jets. Introductory fares start at $129 one-way. The airline emphasizes safety measures amidst COVID-19, ensuring a safe travel experience for guests.

Alaska Airlines is enhancing touch-free travel options to prioritize hygiene and safety for guests and employees. New features include pre-ordering meals, printing bag tags without kiosks, and scanning boarding passes from six feet away. Guests can choose to receive text messages instead of printed boarding passes and get emailed baggage receipts. The Alaska Airlines mobile app remains essential for minimizing contact. Additionally, nearly 100 safety measures have been implemented, including mask mandates, enhanced cleaning, and hospital-grade air filters, as part of the airline's Next-Level Care commitment.

Alaska Airlines has partnered with EO Products to enhance in-flight health and safety measures. Starting August 21, passengers will receive complimentary EO hand sanitizing wipes, effective against 99.9% of germs, featuring organic essential oils and biodegradable materials. This initiative is part of Alaska's Next-Level Care program, which includes other health protocols like open middle seats and advanced air filtration systems. The partnership aims to provide travelers with calming experiences and peace of mind while flying.

Alaska Airlines is launching a two-day 'Buy One, Get One' sale, allowing customers to purchase one main cabin fare and obtain a second ticket for just taxes and fees, applicable to over 100 destinations. The sale runs from Aug. 7 to Oct. 31, 2020, with ticket purchases required by 11:59 PM (PT) on Aug. 9. Enhanced safety measures include blocked middle seats and strict face mask policies to ensure passenger safety. This initiative aims to promote travel while providing a sense of security during the ongoing pandemic.

Alaska Airlines announced a mandatory mask policy effective August 7, requiring all guests aged 2 and older to wear cloth face coverings at airports and onboard flights. Guests unwilling to comply will be prohibited from traveling, while those who refuse after boarding will have their future travel suspended. The company emphasizes safety with enhanced cleaning measures and air filtration systems. Alaska will also continue blocking seats for physical distancing until October 31 and provides a flexible travel policy until September 8. Masks are available upon request for those who forget.

Alaska Air Group reported a net loss of $214 million in Q2 2020, translating to $1.73 per diluted share, down from a net income of $262 million or $2.11 per share in Q2 2019.

Excluding certain adjustments, the loss increased to $439 million or $3.54 per share. The company achieved a 70% reduction in cash burn from $400 million to $120 million monthly. As of July 22, 2020, Alaska Air held $3.8 billion in cash and securities. Despite challenges, it received $992 million in CARES Act support and is set to join the oneworld airline alliance by the end of 2020.

On July 2, 2020, Alaska Airlines announced securing nearly $1.2 billion in private loans aimed at enhancing its financial stability during the COVID-19 recovery phase. The financing, structured as an Enhanced Equipment Trust Certificate (EETC), utilizes 61 owned aircraft as collateral. Specific repayment terms include $966 million due by August 15, 2027 and $208 million by August 15, 2025. Additionally, McGee Air Services received $30 million from the Payroll Support Program, supplementing previous funds to cover employee wages through September 30.

Alaska Air Group will disclose its Q2 2020 financial results on July 23, 2020, followed by a conference call at 11:30 a.m. ET. The airline operates over 115 destinations across the U.S. and North America, emphasizing essential air service and cargo transport. Alaska Airlines is recognized for its low fares, customer service excellence, and sustainability initiatives. Stakeholders can access the conference via webcast at www.alaskaair.com/investors.

Alaska Airlines has implemented stricter mask enforcement protocols for its flights to enhance safety. Flight attendants can now issue a final warning, symbolized by a yellow card, to passengers who repeatedly refuse to wear masks. This action may lead to a review of the guest's travel privileges. Alaska Airlines, serving over 115 destinations and recognized for its low fares and customer service, emphasizes adherence to health guidelines during the ongoing pandemic.