Alaska Air Group Q1 adjusted loss $1.68/sh; extends BofA card deal

ALASKA AIR GROUP, INC.

2026-Q1 EPS reported -$1.69 vs consensus -$1.36 ▼ miss (-24.4%)

GAAP net loss $193M ($1.69/sh); adjusted loss $192M ($1.68/sh). Revenue $3.3B, unit rev +3.5% YoY.
Higher fuel costs ($2.98/gal) and demand disruptions from Hawaii storms and Mexico civil unrest impacted results.
Extended multi-year BofA co-brand card deal; BofA to become single issuer; incremental remuneration growth expected.
Balance sheet: $20B unencumbered assets, $2.9B liquidity; repurchased 4.7M shares for $203M in Q1.
Q2 outlook: adj loss ~$1.00/sh, fuel $4.50/gal; full-year guidance suspended due to fuel volatility.

item 1.01 item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALASKA AIR GROUP, INC. reported first quarter ending March 31, 2026 results: revenue approximately $3.3 billion, net income GAAP net loss of $193 million, EPS $1.69 per share.

Period: first quarter ending March 31, 2026
Revenue: approximately $3.3 billion
Net income: GAAP net loss of $193 million
EPS: $1.69 per share
Result: reported results

Exact text from the filing

demand remained resilient and the company continued to exec ute against inte gration priorities and Alaska Accelerate initiatives. First quarter revenue totaled approximately $3.3 billion, with unit revenue up 3.5% year-over-year despite a nearly 1 point headwind from Hawaiʻi and Puerto Vallarta. Premium demand continued to outperform as fleet retrofits and

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALASKA AIR GROUP, INC. amended Amendment with Citibank, N.A. valued at approximately $1.1 billion (effective 2026-04-20).

Action: amendment
Agreement: credit facility
Counterparty: Citibank, N.A.
Value: approximately $1.1 billion
Effective: 2026-04-20

Exact text from the filing

On April 20, 2026, Alaska Air Group, Inc. (Air Group), entered into an amendment (the “ Amendment ”) to the amended and restated credit and guarantee agreement, dated as of September 20, 2024, as amended from time to time (the “ Revolving Credit Facility ”) with Alaska Airlines, Inc. (“ Alaska ”), as borrower, the lenders party thereto and Citibank, N.A. as the administrative agent.

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ALASKA AIR GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000766421-26-000015

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