secwatch.observer — SEC 8-K summary
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Issuer:     ALASKA AIR GROUP, INC. (ALK)
CIK:        0000766421
Form:       8-K
Filed at:   2026-10-20T21:09:36+00:00
Accession:  0000766421-26-000046
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/766421/000076642126000046/0000766421-26-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/766421/000076642126000046/alk-20261020.htm
  HTML page:      https://secwatch.observer/filing/0000766421-26-000046

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