---
schema_version: "secwatch.filing_event.v1"
accession: "0000766421-26-000046"
form_type: "8-K"
ticker: "ALK"
cik: "0000766421"
company_name: "ALASKA AIR GROUP, INC."
filed_at: "2026-10-20T21:09:36+00:00"
generated_at: "2026-10-20T21:10:04.754329+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Alaska Air Q3 2026 GAAP loss $1.32/shr; revenue up 14% to $4.3B; FY guide cut to $5.00-$5.50 loss

## Summary
- Q3 GAAP net loss $147M (-$1.32/shr); adjusted net income $49M or $0.36/shr excluding a $0.67 tax catch-up; adjusted pretax margin 1.1%.
- Revenue $4.3B up 14% YoY on 2.4% capacity growth; RASM +11.7%, CASMex +4.4%; economic fuel $3.94/gal vs $3.75 guidance.
- Q4 guide: adjusted loss $2.00-$2.50/shr, fuel $4.65-$4.85/gal; full-year adjusted loss $5.00-$5.50 including $1.8B fuel headwind above plan.
- Announced intent to join oneworld Atlantic and Pacific joint international businesses; Seattle adds Athens, Paris, Osaka and Papeete nonstops in spring 2027.
- Loyalty cash remuneration up 21% to $721M; premium revenue +25% (>36% of total); $3.3B liquidity and $755M nine-month operating cash flow.

## SEC filing metadata
- accession: 0000766421-26-000046
- form_type: 8-K
- ticker: ALK
- cik: 0000766421
- company_name: ALASKA AIR GROUP, INC.
- filed_at: 2026-10-20T21:09:36+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/766421/000076642126000046/0000766421-26-000046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/766421/000076642126000046/alk-20261020.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000766421-26-000046
- JSON: https://secwatch.observer/filing/0000766421-26-000046.json
- Plain text: https://secwatch.observer/filing/0000766421-26-000046.txt

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