---
schema_version: "secwatch.filing_event.v1"
accession: "0000766421-26-000015"
form_type: "8-K"
ticker: "ALK"
cik: "0000766421"
company_name: "ALASKA AIR GROUP, INC."
filed_at: "2026-04-20T23:59:59+00:00"
generated_at: "2026-05-15T05:25:39.096790+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000766421-26-000015
- form_type: 8-K
- ticker: ALK
- cik: 0000766421
- company_name: ALASKA AIR GROUP, INC.
- filed_at: 2026-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/766421/000076642126000015/0000766421-26-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/766421/000076642126000015/alk-20260420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000766421-26-000015
- JSON: https://secwatch.observer/filing/0000766421-26-000015.json
- Plain text: https://secwatch.observer/filing/0000766421-26-000015.txt

## Source-grounded claims
- claim_id: c6dd8f6ae2f85021d27eba7909eb51b5730fd937
  claim: 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.
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/766421/000076642126000015/0000766421-26-000015-index.htm
- claim_id: 5c2aec267f19146a1d2d3433a1eb2d5565df72d9
  claim: ALASKA AIR GROUP, INC. amended Amendment with Citibank, N.A. valued at approximately $1.1 billion (effective 2026-04-20).
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/766421/000076642126000015/0000766421-26-000015-index.htm

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