---
schema_version: "secwatch.filing_event.v1"
accession: "0000766421-26-000036"
form_type: "8-K"
ticker: "ALK"
cik: "0000766421"
company_name: "ALASKA AIR GROUP, INC."
filed_at: "2026-07-21T20:30:28+00:00"
generated_at: "2026-07-21T20:31:31.582984+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Alaska Air Group reports Q2 net loss of $76M; fuel costs surge 85% YoY; Q3 EPS guidance $0.00-$1.00

## Summary
- GAAP net loss $76M ($0.68/share); adjusted net loss $102M ($0.92/share); revenue $4.1B (+10% YoY).
- Economic fuel cost $4.43/gal (+85% YoY) added $600M in incremental fuel expense; adjusted pretax margin -4.3%.
- Q3 guidance: capacity +2-3% YoY, RASM low double-digit growth, CASMex +low-mid single digits, fuel $3.75/gal, adjusted EPS $0.00-$1.00.
- Raised $1B in financing (6.5% senior notes + term loans); liquidity $3.8B; operating cash flow $606M in H1 2026.
- Operational: #1 on-time YTD, launched transatlantic service, completed single PSS integration, awarded 75k Atmos points to employees.

## SEC filing metadata
- accession: 0000766421-26-000036
- form_type: 8-K
- ticker: ALK
- cik: 0000766421
- company_name: ALASKA AIR GROUP, INC.
- filed_at: 2026-07-21T20:30:28+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/766421/000076642126000036/0000766421-26-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/766421/000076642126000036/alk-20260721.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000766421-26-000036
- JSON: https://secwatch.observer/filing/0000766421-26-000036.json
- Plain text: https://secwatch.observer/filing/0000766421-26-000036.txt

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