Here are the 10-K annual reports from Alaska Air Group, Inc. (ALK) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow ALK and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ALK filings page.
Alaska Air Group describes its 2025 operations, the integration of Hawaiian Airlines, and key risks. The company operated Alaska, Hawaiian, Horizon and McGee, carrying 47 million mainline and 11 million regional passengers. Passenger revenue made up 90% of total revenue, with loyalty and other revenue at 10%.
In 2025 it advanced the Hawaiian acquisition by consolidating back-office functions, launching the combined Atmos Rewards program, and obtaining a single FAA operating certificate, with a single passenger service system targeted for spring 2026. Fuel expense was $2,879 million, 21% of operating costs, with no fuel hedges open at year-end.
Alaska Air Group employed 35,951 people as of December 31, 2025, with 81% represented by unions and wages and benefits at 46% of non‑fuel operating expenses. The report emphasizes competition, fuel volatility, climate and sustainability commitments, labor negotiations, and Hawaiian integration as major strategic and financial risk areas.