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Mar 31, 2024
Alaska Air Q1 2024 Earnings Report
Achieved record first quarter operating revenue and demonstrated resilience amidst significant challenges.
Key Takeaways
Alaska Air Group reported a net loss of $132 million, or $1.05 per share, for the first quarter of 2024. The company's results were significantly impacted by Flight 1282 and the Boeing 737-9 MAX grounding, but exceeded initial expectations due to capacity planning, network optimization, and cost control. The company received $162 million in initial cash compensation from Boeing.
First quarter operating revenue reached a record $2.2 billion.
Net loss for the quarter was $132 million, or $1.05 per share.
The company received $162 million in initial cash compensation from Boeing related to the 737-9 MAX grounding.
Agreement to purchase Hawaiian Airlines was approved by Hawaiian shareholders, remaining subject to regulatory approval.
Revenue by Segment
Forward Guidance
Alaska Air Group provides the following forecast information for Q2 2024:
Positive Outlook
- Capacity (ASMs) % change versus 2023: Up 5% to 7%
- Economic fuel cost per gallon: $3.00 to $3.20
- Earnings per share: $2.20 to $2.40
Historical Earnings Impact
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Avg. Return Before/After Earnings
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