Key Takeaways DAL projects a roughly $200M pretax hit for the December quarter from softer November travel demand.LUV cuts its 2025 EBIT view to $500 million owing to lower revenues due to the government shutdown.ALK cuts its Q4 EPS view to 10 cents as outages, shutdown-related losses, higher fuel costs pressured results.The longest ever federal government shutdown in U.S. history finally ended last month, after President Donald Trump signed a spending bill. The 43-day shutdown caused financial stress for f ...

Question-and-Answer SessionCatherine O'BrienGoldman Sachs Group, Inc., Research Division So Shane, you guys put out an 8-K earlier this morning calling out various transitory impacts, some Alaska specific, some industry-wide, LA crack spreads, IT outage, government shutdown impact. If you'll [ humor ] me, I just wanted to dig in on each of those, get the short-term ones out of the way. So this morning, I've been fielding quite a few investor questions on the language in your 8-K around the shape of this gov ...

Summary of Alaska Air Group Conference Call Company Overview - **Company**: Alaska Air Group (NYSE: ALK) - **Event**: 2025 Conference on December 04, 2025 Key Industry Insights - **Government Shutdown Impact**: The company experienced a temporary decline in bookings and revenue due to flight cancellations related to the government shutdown, but bookings have since recovered and are performing better than 95% of the days observed this year [6][8][9] - **IT Outages**: Recent IT outages were not related to the merger with Hawaiian Airlines but were isolated incidents. The company is implementing changes to improve system resilience and expects to stabilize operations quickly [14][15][16] - **Refinery Fire**: The company has returned to pre-fire fuel prices, with refining margins stabilizing. Future plans include securing consistent fuel supply to mitigate volatility in pricing [17][18][19] Financial Performance - **First Quarter Bookings**: As of now, bookings for January are approximately 30% complete, aligning with expectations. The company does not anticipate lingering impacts from the government shutdown into the first quarter [13] - **Loyalty Program Success**: The launch of the new loyalty platform, Atmos, and a premium co-brand credit card has exceeded initial expectations, with significant early demand [22][24][25] - **Hawaiian Assets Performance**: The Hawaiian segment is performing better than anticipated, nearing break-even rather than the expected $200 million loss. The brand loyalty has proven strong, particularly in key markets [29][30][31] Cost Management and Synergies - **Cost Synergies from Merger**: The company targets $200 million in cost synergies from the merger, focusing on overhead and supply chain efficiencies. Headcount optimization is ongoing post-merger [38][39][40] - **Unit Cost Inflation**: The company expects low single-digit unit cost inflation due to capacity adjustments and cost synergies, with a focus on maintaining operational efficiency [33][35] Future Outlook - **2027 EPS Target**: The company remains committed to the $10 EPS target for 2027, citing clear synergies and initiatives that are on track despite macroeconomic challenges. The management believes there are additional profit opportunities to explore [63][65][66] - **International Expansion**: Excitement surrounds the upcoming international routes from Seattle, with strong community interest and demand anticipated [58][59] Additional Considerations - **Operational Excellence**: The focus will shift back to operational excellence, with the aim of enhancing customer experience and loyalty [57] - **Market Optimization**: The company is actively optimizing its network and operations, particularly in the cargo segment, to ensure long-term profitability [55][56] This summary encapsulates the key points discussed during the Alaska Air Group conference call, highlighting the company's recovery from recent challenges, ongoing initiatives, and future growth strategies.

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Accessibility StatementSkip Navigation In first combined Thanksgiving travel since achieving a single-operating certificate, Alaska and Hawaiian have topped the list for guest reliability, and are continuing the holiday celebration announcing Cyber Week sales. SEATTLE, Dec. 2, 2025 /PRNewswire/ -- With record number of passengers taking to the sky this Thanksgiving holiday, Alaska Airlines, Hawaiian Airlines, and our regional air carrier, Horizon Air, provided the most dependable air service to guests on ne ...

Group 1 - TD Cowen has lowered the target price for Alaska Airlines from $65 to $60 [1] - TD Cowen has also reduced the target price for American Airlines from $18 to $16 [1]

Core Viewpoint - Alkane Resources Limited has appointed Ms. Denise McComish as an independent Non-Executive Director, effective December 1, 2025, who will also chair the Audit & Risk Committee [1][5]. Company Overview - Alkane Resources is an Australia-based gold and antimony producer with a portfolio of three operating mines located in Australia and Sweden [6]. - The company has a strong balance sheet and is positioned for further growth [6]. Key Appointee Background - Ms. McComish has extensive experience in finance, strategy, corporate governance, ESG, and board roles across various sectors, having been a partner at KPMG for 30 years [2]. - She currently serves as a Non-Executive Director for multiple organizations, including Web Travel Group Limited and WA Electricity Generation and Retail Corporation (Synergy) [3]. - Ms. McComish is a Fellow of Chartered Accountants Australia and New Zealand and a member of Chief Executive Women [4]. Strategic Importance - Alkane Chair Andy Quinn expressed confidence that Ms. McComish's expertise in governance, audit, risk, and ESG matters will be invaluable in aligning with the company's objective to deliver long-term value for shareholders and stakeholders [5].

Core Insights - Alaska Air Group Inc. will host a webcast featuring CFO Shane Tackett on December 4, 2025, during the Goldman Sachs Industrials and Materials Conference [1] Company Overview - Alaska Air Group operates Alaska Airlines, Hawaiian Airlines, and Horizon Air, with McGee Air Services as a subsidiary of Alaska Airlines [2] - The company has hubs in major cities including Seattle, Honolulu, and Los Angeles, serving over 140 destinations across North America, Latin America, Asia, and the Pacific, with plans to expand to Europe in spring 2026 [2] - Alaska Airlines is a member of the oneworld alliance, and Hawaiian Airlines is scheduled to join in spring 2026, allowing customers to earn and redeem points for travel to over 1,000 destinations globally [2] - Alaska Air Group is publicly traded on the New York Stock Exchange under the ticker "ALK" [2] Financial Performance - Alaska Air Group reported its third-quarter financial results for the period ending September 30, 2025, indicating a profitable quarter [3]

Core Points - Alaska Airlines is launching daily seasonal flights from Seattle to Rome starting April 28, 2026, marking a significant step in its international expansion [1][3][8] - The airline is also set to introduce daily year-round service to London Heathrow, enhancing connectivity between the Pacific Northwest and Europe [4][6] - Alaska Airlines is the only airline offering daily nonstop flights from Seattle to Rome, responding to strong customer demand [3][5] Service Details - Roundtrip airfares to Rome start as low as $599, with a focus on providing a premium travel experience on the Boeing 787-9 Dreamliner [4][8] - The new service will feature lie-flat seats, enclosed suites, and multi-course dining in Business Class, aiming to elevate the guest experience [8][17] - Alaska Airlines plans to establish a 787 hub in Seattle, with ambitions to serve at least 12 intercontinental destinations by 2030 [14][15] Loyalty Program Enhancements - The Atmos™ Rewards program will offer members the opportunity to earn points for flights to Rome and London, with 1 point and 1 status point per mile flown [6][16] - Atmos Titanium status holders will receive complimentary lie-flat upgrades on intercontinental routes starting in spring 2026 [7] - A new Atmos™ Rewards Summit Visa Infinite® card will provide additional earning opportunities for travelers, including 3 points for every $1 spent on eligible foreign purchases [16][18] Future Developments - Alaska Airlines is set to introduce ultra-fast Starlink Wi-Fi on its 787-9 aircraft in fall 2026, enhancing the onboard experience for guests [13] - The airline is expanding its international footprint with additional routes to be announced in the coming years, including flights to Tokyo Narita and Reykjavik, Iceland [14][15] - Alaska Airlines is a member of the oneworld alliance, which will further enhance its global connectivity starting in spring 2026 [19]

Core Insights - Alaska Air Group has appointed four leaders to senior positions across Alaska Airlines and Horizon Air, emphasizing the company's commitment to safety, care, and operational excellence [1][12]. Leadership Appointments - Nathan Engel has been elected as Vice President of Maintenance Operations at Alaska Airlines, bringing 37 years of industry experience, including roles at Horizon and Hawaiian Airlines [2][3]. - Carlos Zendejas has been promoted to Senior Vice President of Horizon Air Operations, overseeing flight operations, maintenance, and engineering [4][5]. - Chéri Ruger has been appointed Vice President of People, Labor Relations, and Inflight Operations at Horizon Air, responsible for overseeing over 600 flight attendants and setting long-term strategies [6][8][9]. - Baron Converse has been promoted to Vice President of Maintenance and Engineering at Horizon Air, succeeding Engel and managing the maintenance organization [10][11]. Company Overview - Alaska Air Group includes Alaska Airlines, Hawaiian Airlines, and Horizon Air, with a global presence and hubs in major cities [12]. - The company is set to expand its operations to Europe in spring 2026 and is a member of the oneworld alliance [12].