Alaska Air forecasts bigger-than-expected fourth-quarter loss on soaring fuel costs

Alaska Air Group (ALK) reported a Q3 loss of $147 million, or $1.32 per share, but adjusted earnings of 36 cents per share beat estimates. Revenue was $4.31 billion, matching forecasts. The company expects Q4 losses between $2 and $2.50 per share. Shares have fallen 32% year-to-date, closing at $34.36 on Tuesday.

ALASKA AIR GROUP, INC. (ALK) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 October 20, 2026 Media contact: Investor/analyst contact: Media Relations Ryan St. John newsroom@alaskaair.com VP Finance, Planning and Investor Relations ALKInvestorRelations@alaskaair.com Alaska Air Group reports third quarter 2026 results Reported loss per share o

Alaska Airlines welcomed the FAA's certification of the Boeing 737 MAX 10, calling it a key part of its long-term fleet strategy. The airline plans to use the fuel-efficient aircraft for high-demand routes, with 12 Aurora lie-flat suites on at least 25 planes. Alaska has firm orders for 168 MAX aircraft, including 105 MAX 10s, and expects its first delivery in Q2 2027, according to the company.

The Ninth Circuit ruled that the Clean Air Act preempts state-law claims related to aircraft emissions, benefiting airports and airlines. The case involved residents near Seattle-Tacoma Airport suing the Port of Seattle, Alaska Airlines, and Delta Air Lines for pollution. The court held that state-law claims seeking relief for pollutants emitted directly by aircraft are preempted by federal law, potentially providing a significant defense for airports and airlines.

The Civil Reserve Air Fleet (CRAF) is a US program where commercial airlines commit aircraft to support military airlift needs during emergencies. The CRAF has three segments: long-range international, short-range international, and national. Airlines must meet specific fleet and crew requirements to participate. The program has been activated three times since the Cold War. As of 2025, over 800 aircraft from more than 20 carriers participate, offering significant surge capability.

Alaska Air Group's average price target was reduced from $56.56 to $55.94 by 16 analysts, with a range of $37 to $92. This implies 42% upside from the Oct. 2 closing price. The consensus rating remains 'Buy' among 18 analysts.