---
schema_version: "secwatch.filing_event.v1"
accession: "0000766421-25-000012"
form_type: "8-K"
ticker: "ALK"
cik: "0000766421"
company_name: "ALASKA AIR GROUP, INC."
filed_at: "2025-04-23T23:59:59+00:00"
generated_at: "2026-05-23T08:37:20.622067+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Alaska Air Q1 adjusted loss $0.77; Q2 EPS guidance $1.15-$1.65; RASM up 5%

## Summary
- GAAP net loss $166M ($1.35/share) vs $132M ($1.05) in Q1 2024; adjusted loss $95M ($0.77) vs $116M ($0.92).
- Capacity up 3.9% vs pro forma 2024; RASM +5.0% (led industry, but 3pts hit by demand softness).
- Q2 2025 guidance: capacity +2-3%, RASM flat to down low-single-digit, CASMex up mid-to-high single-digit, adj EPS $1.15-$1.65.
- Operating cash flow $459M; repurchased $107M in Q1, $149M YTD through April 22.
- Ratified CBAs with Alaska (~6,900) and Hawaiian (~2,100) AFA flight attendants; integration synergies on track.

## SEC filing metadata
- accession: 0000766421-25-000012
- form_type: 8-K
- ticker: ALK
- cik: 0000766421
- company_name: ALASKA AIR GROUP, INC.
- filed_at: 2025-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/766421/000076642125000012/0000766421-25-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/766421/000076642125000012/alk-20250423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000766421-25-000012
- JSON: https://secwatch.observer/filing/0000766421-25-000012.json
- Plain text: https://secwatch.observer/filing/0000766421-25-000012.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.