olivLaw · US equity research
Alaska Air Group, Inc. ALK
Air Transportation, Scheduled · SIC 4512 · Vertical: Air Transportation, Scheduled (SIC 4512)
Alaska Air Group is the holding company for Alaska Airlines, Hawaiian Airlines and Horizon Air, with hubs on the US West Coast and in Honolulu. The group has integrated Hawaiian under a single operating certificate and is going through a period in which fuel cost dominates results, so a loss-making quarter sits alongside growing revenue of 14.239 billion USD in 2025.
At the close of 04 Nov 2026, Alaska Air Group, Inc. (ALK) stock was 40.00 USD (+8.75% on the day), with market capitalisation 4.5 bn USD, dividend yield 0.94%, beta 1.82, 52-week range 33.54–60.21 USD. Latest reported quarter (Q2 2026): revenue of 4.1 bn USD (+9.7% YoY), net income of -76.0 m USD (−144.2% YoY), diluted EPS -0.68 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 59.1
- strong (55–70)
- Bollinger (20, 2)
- 32.65 – 40.06
- in the upper half of the band · %B 0.99 · band width 20.4%
- SMA 50 / 200
- 38.91 / 43.86
- mixed trend
- MACD (12, 26, 9)
- -0.48 / -1.10
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +2.1% | −2.0% | +4.1 pp | — |
| 3 months | −23.2% | −2.2% | −21.0 pp | — |
| 6 months | −1.3% | +4.3% | −5.5 pp | — |
| Year to date | −20.5% | +10.6% | −31.0 pp | — |
| 1 year | −1.0% | +10.5% | −11.5 pp | +3.7% |
| 3 years | +19.2% | +73.7% | −54.5 pp | +69.9% |
| 5 years | −32.6% | +61.7% | −94.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.1 bn | 3.5 bn | 3.1 bn | 3.7 bn | 3.8 bn | 3.6 bn | 3.3 bn | 4.1 bn |
| Operating income | 341.0 m | 73.0 m | -197.0 m | 277.0 m | 148.0 m | 75.0 m | -279.0 m | -168.0 m |
| Depreciation & amortisation | 139.0 m | 190.0 m | 194.0 m | 199.0 m | 203.0 m | 199.0 m | 204.0 m | 207.0 m |
| Interest expense | 44.0 m | 56.0 m | 66.0 m | 66.0 m | 70.0 m | 70.0 m | 76.0 m | 86.0 m |
| Pre-tax income | 328.0 m | 79.0 m | -233.0 m | 238.0 m | 111.0 m | 30.0 m | -317.0 m | -214.0 m |
| Income tax | 92.0 m | 8.0 m | -67.0 m | 66.0 m | 38.0 m | 9.0 m | -124.0 m | -138.0 m |
| Net income | 236.0 m | 71.0 m | -166.0 m | 172.0 m | 73.0 m | 21.0 m | -193.0 m | -76.0 m |
| Diluted EPS | 1.84 | 0.55 ≈ | -1.35 | 1.42 | 0.62 | 0.18 ≈ | -1.69 | -0.68 |
| Operating cash flow | 318.0 m ≈ | 274.0 m | 459.0 m | 376.0 m ≈ | 229.0 m ≈ | 185.0 m | 421.0 m | 185.0 m ≈ |
| Share repurchases | 14.0 m ≈ | 249.0 m | 105.0 m | 430.0 m ≈ | 5.0 m ≈ | 30.0 m | 193.0 m | 57.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.3 bn | 8.8 bn | 3.6 bn | 6.2 bn | 9.6 bn | 10.4 bn | 11.7 bn | 14.2 bn |
| Revenue YoY | +4.7% | +6.3% | −59.4% | +73.2% | +56.2% | +8.1% | +12.6% | +21.3% |
| Net income | 437.0 m | 769.0 m | -1.3 bn | 478.0 m | 58.0 m | 235.0 m | 395.0 m | 100.0 m |
| Net income YoY | −54.5% | +76.0% | −272.2% | unavailable | −87.9% | +305.2% | +68.1% | −74.7% |
| Diluted EPS | 3.52 | 6.19 | -10.72 | 3.77 | 0.45 | 1.83 | 3.08 | 0.83 |
| Diluted EPS YoY | −54.6% | +75.9% | −273.2% | unavailable | −88.1% | +306.7% | +68.3% | −73.1% |
| net % | 5.3% | 8.8% | -37.1% | 7.7% | 0.6% | 2.3% | 3.4% | 0.7% |
| Free cash flow | 235.0 m | 1.0 bn | -456.0 m | 738.0 m | -253.0 m | -444.0 m | unavailable | unavailable |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 627.0 m USD
- Financial debt
- 5.3 bn USD
- Net debt
- 4.7 bn USD
- Equity
- 4.1 bn USD
- Total assets
- 20.4 bn USD
- Debt / equity
- 1.29x
- Current ratio
- 0.50x
- ROE
- 2.4%
- ROA
- 0.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.6 bn | 6.2 bn | 9.6 bn | 10.4 bn | 11.7 bn | 14.2 bn | SEC (XBRL)· 12 Feb 2026verified |
| Operating income | -1.8 bn | 685.0 m | 70.0 m | 394.0 m | 570.0 m | 303.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Depreciation & amortisation | 420.0 m | 394.0 m | 415.0 m | 451.0 m | 583.0 m | 795.0 m | SEC (XBRL)· 12 Feb 2026verified |
| EBITDA | -1.4 bn ≈ | 1.1 bn ≈ | 485.0 m ≈ | 845.0 m ≈ | 1.2 bn ≈ | 1.1 bn ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Interest expense | 98.0 m | 128.0 m | 108.0 m | 121.0 m | 171.0 m | 272.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Pre-tax income | -1.8 bn | 629.0 m | 79.0 m | 323.0 m | 545.0 m | 146.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Income tax | -516.0 m | 151.0 m | 21.0 m | 88.0 m | 150.0 m | 46.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Net income | -1.3 bn | 478.0 m | 58.0 m | 235.0 m | 395.0 m | 100.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Diluted EPS | -10.72 | 3.77 | 0.45 | 1.83 | 3.08 | 0.83 | SEC (XBRL)· 12 Feb 2026verified |
| Weighted average diluted shares | 123.5 m | 126.8 m | 127.9 m | 128.7 m | 128.4 m | 119.9 m | SEC (XBRL)· 12 Feb 2026verified |
| Dividend per share | 0.38 | — | — | — | — | — | SEC (XBRL)· 26 Feb 2021verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.4 bn | 470.0 m | 338.0 m | 281.0 m | 1.2 bn | 627.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Inventories | 57.0 m | 62.0 m | 104.0 m | 116.0 m | 199.0 m | 203.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Current assets | 4.0 bn | 3.9 bn | 3.0 bn | 2.7 bn | 3.8 bn | 3.3 bn | SEC (XBRL)· 12 Feb 2026verified |
| Property, plant & equipment, net | 6.2 bn | 6.1 bn | 7.3 bn | 8.4 bn | 10.8 bn | 11.9 bn | SEC (XBRL)· 12 Feb 2026verified |
| Goodwill | 2.1 bn | 2.0 bn | 2.0 bn | 1.9 bn | 2.7 bn | 2.7 bn | SEC (XBRL)· 12 Feb 2026verified |
| Intangibles (excl. goodwill) | 107.0 m | — | — | 90.0 m | 873.0 m | 815.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Total assets | 14.0 bn | 14.0 bn | 14.2 bn | 14.6 bn | 19.8 bn | 20.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Accounts payable | 108.0 m | 200.0 m | 221.0 m | 207.0 m | 186.0 m | 324.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Short-term debt | 1.1 bn | 366.0 m | 276.0 m | 353.0 m | 442.0 m | 540.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Long-term debt | 2.4 bn | 2.2 bn | 1.9 bn | 2.2 bn | 4.5 bn | 4.8 bn | SEC (XBRL)· 12 Feb 2026verified |
| Current liabilities | 4.3 bn | 4.0 bn | 4.5 bn | 4.5 bn | 6.1 bn | 6.6 bn | SEC (XBRL)· 12 Feb 2026verified |
| Equity | 3.0 bn † | 3.8 bn † | 3.8 bn † | 4.1 bn † | 4.4 bn † | 4.1 bn † | SEC (XBRL)· 12 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -234.0 m | 1.0 bn | 1.4 bn | 1.1 bn | 1.5 bn | 1.2 bn | SEC (XBRL)· 12 Feb 2026verified |
| Capex | 222.0 m | 292.0 m | 1.7 bn | 1.5 bn | — | — | SEC (XBRL)· 14 Feb 2024verified |
| Free cash flow | -456.0 m ≈ | 738.0 m ≈ | -253.0 m ≈ | -444.0 m ≈ | — | — | SEC (XBRL)· 14 Feb 2024derived |
| Investing cash flow | -593.0 m | -1.0 bn | -1.2 bn | -964.0 m | -634.0 m | -1.6 bn | SEC (XBRL)· 12 Feb 2026verified |
| Financing cash flow | 2.0 bn | -914.0 m | -325.0 m | -147.0 m | 119.0 m | -199.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Dividends paid | 45.0 m | 0 | 0 | — | — | — | SEC (XBRL)· 13 Feb 2023verified |
| Share repurchases | 31.0 m | 0 | 0 | 137.0 m | 312.0 m | 570.0 m | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 41 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 4.5 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation11
- Returns91
- Quality20
- Balance sheet10
- Growth100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.93 – 6.63 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · insufficient data
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)4.93 – 6.63 (Mid 5.65)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 41/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -2.2% | 22 (vs peers) | 15% |
| Net margin · Quality | -1.2% | 17 (vs peers) | 9% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 13.9% | 100 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | 22.6% | 100 (on a fixed band) | 12% |
| Net debt / EBITDA · Balance sheet | 8.5x | 20 (vs peers) | 15% |
| Interest coverage · Balance sheet | -0.7x | 0 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 0.5x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 16.0x | 11 (vs peers) | 15% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 6.4% | 91 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet10/100 · 3/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality20/100 · 2/3 factors with a value
- Returns· partial91/100 · 1/2 factors with a value
- Valuation· partial11/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ALASKA AIR GROUP, INC. (ALK). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 14.2 bn USD in 2025; YoY growth 21.3%; net margin -1.2%; ROE -4.6%; net debt/EBITDA 8.5x.
The estimated value range is 4.93–6.63 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 5.65 USD, the price of 40.00 USD leaves a potential of -85.9% (value / price − 1) and a margin of safety of -607.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 41/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 13.9%
- EPS CAGR 3Y: 22.6%
- Shareholder yield (distributions): 6.4%
What contradicts it
- ROIC: -2.2%
- Net margin: -1.2%
- Net debt / EBITDA: 8.5x
- Interest coverage: -0.7x
- Current ratio: 0.5x
- EV/EBITDA: 16.0x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, P/E (TTM), FCF yield, Payout ratio (FCF).
Versus the vertical median
Air Transportation, Scheduled (SIC 4512) · same industry (4-digit SIC) · compared with 14 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LTMLATAM Airlines Group S.A. | 27,436.0 bn | 19,289.5 | 141.1% | 10.2% | +11.2% | −1% / unavailable |
| RYAAYRyanair Holdings plc | 61.6 bn | 40.6 | — | — | +3.8% | −13% / +25% |
| DALDelta Air Lines, Inc. | 54.8 bn | 16.6 | 15.9% | 4.6% | +2.8% | +30% / +126% |
| UALUnited Airlines Holdings, Inc. | 34.8 bn | 9.8 | 22.3% | 5.5% | +3.5% | +5% / +172% |
| LUVSouthwest Airlines Co | 21.3 bn | 21.4 | 13.9% | 3.3% | +2.1% | +25% / +70% |
| AALAmerican Airlines Group Inc. | 9.0 bn | — | — | -0.8% | +0.8% | −3% / +10% |
| CPACopa Holdings, S.A. | 6.0 bn | 9.0 | 26.1% | 18.6% | +5.0% | +20% / +57% |
| ALKAlaska Air Group, Inc. | 4.5 bn | — | -4.6% | -1.2% | +21.3% | −1% / +19% |
| SKYWSkywest Inc | 3.1 bn | 8.0 | 15.1% | 9.7% | +15.0% | −19% / +74% |
| ALGTAllegiant Travel Co | 2.2 bn | 56.7 | 1.8% | 0.9% | +3.7% | +7% / +19% |
| ULCCFrontier Group Holdings, Inc. | 1.6 bn | — | -175.4% | -8.9% | −1.4% | +55% / +81% |
| JBLUJetblue Airways Corp | 1.3 bn | — | -55.4% | -10.0% | −2.3% | −22% / −19% |
| RJETRepublic Airways Holdings Inc. | 958.4 m | 9.6 | 7.5% | 4.6% | +13.7% | +2% / +90% |
| FJETStarfighters Space, Inc. | 46.8 m | — | -94.2% | — | unavailable | unavailable / unavailable |
| AZULAzul SA | — | — | — | 0.6% | +10.8% | unavailable / unavailable |
1- and 3-year price returns: for ALK from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Alaska Air Group is the holding company for Alaska Airlines, Hawaiian Airlines and Horizon Air, with hubs on the US West Coast and in Honolulu. The group has integrated Hawaiian under a single operating certificate and is going through a period in which fuel cost dominates results, so a loss-making quarter sits alongside growing revenue of 14.239 billion USD in 2025 1.
SWOT
Strengths
- Solid hub network on the West Coast and in Hawaii, with diversified revenue from loyalty and cargo.
- Atmos Rewards loyalty program with global partners and strongly growing cash remuneration in the third quarter of 2026.
- Operator with a single certificate and a centralised safety culture, recognised by industry awards.
Weaknesses
- High fixed costs, so a small drop in revenue has a disproportionate effect on results.
- Dependence on a few key markets in the West and Hawaii, exposed to weather and competition.
- The Hawaiian integration has brought operational disruptions and extra costs, and union negotiations are still ongoing.
Opportunities
- Expanding international routes and the premium cabin could diversify revenue and reduce reliance on the main cabin.
- Joining the Atlantic and Pacific international alliances could open access to more premium travellers.
- Growth in cargo activity, including through new freighters, could add revenue with lower risk.
Threats
- High and volatile fuel prices could reduce profitability in the short term.
- Geopolitical disruption to oil supply could prolong pressure on costs.
- Consolidation among competitors and shifting antitrust policy could change its market position.
Risks
- Safety and incidentshigh
An accident could cause heavy losses and a loss of public confidence, even if partly covered by insurance 1.
- Fuel priceshigh
Fuel cost, which depends on refineries and crude oil, is the largest variable in results and has already been a major factor in 2026 23.
- Hawaiian integrationmedium
If the integration of systems, workforce and routes falls short, the anticipated synergies might not materialise 1.
- Supplier dependencemedium
The carriers depend on a few aircraft and engine makers, and problems at those suppliers could take aircraft out of service 1.
- Operational disruptionlow
IT failures and third-party outages reduced results in 2025, and weather or security events could cause further cancellations 1.
Investment thesis
What would need to be true (bull case)
- If premium, international and loyalty revenue keep growing, margins could recover part of the pressure from fuel costs.
- The Hawaiian integration and the single Atmos program could yield larger synergies than currently estimated.
- Demand remains healthy, and management expects unit revenue to keep growing in the fourth quarter of 2026.
What would break the thesis
- If fuel prices stay high, losses could continue for longer than the original plan assumed.
- High fixed costs could turn a small fall in demand into a large hit to profit.
- Competition in key markets and integration problems could reduce expected revenue.
What to watch
- Fuel prices and the final 2026 full-year resultQ4 2026
- Progress on joint union agreements and the single passenger service system2027
- Launch of new international routes from Seattlespring 2027
- Expansion of the Atmos Rewards program and debit cardearly 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company launched the single loyalty program Atmos Rewards in August 2025, combining Mileage Plan and HawaiianMiles, along with a premium co-branded credit card 1. In the third quarter of 2026 premium and loyalty revenues kept growing, and a single passenger service system was implemented in the second quarter 23.
Alaska announced in 2026 its intent to join the Atlantic and Pacific joint international businesses, extending its international routes from Seattle to Rome, London, Reykjavik, Athens, Paris, Osaka and Papeete 23. These routes are part of a revenue diversification strategy that management describes as more resilient to industry cycles 3.
Segments
Trends
- Fuel costsheadwind
Fuel has become the main pressure on results in 2026, with the average cost per gallon far above the initial plan 23. If geopolitical disruptions persist, quarterly results could remain under pressure.
- Premium and loyalty revenuetailwind
Premium and loyalty revenues are growing faster than main cabin revenue, helping the company diversify its income 3. If this continues, unit revenue could support results even with expensive fuel.
- Hawaiian integrationmixed
The Hawaiian integration is on track, with a single passenger service system and a joint operating certificate, and synergies are reported as on plan 12. However, union negotiations and keeping a distinct brand add cost and complexity.
- Demand and capacitytailwind
Capacity growth is moderate, and demand remained healthy in the third quarter of 2026 3. If demand holds, unit revenue could keep rising even with smaller capacity growth.
Competitive position
The company faces intense competition, mainly from other US carriers, some of which have grown through mergers and alliances 1. Capacity overlap is high in key West Coast and Hawaii markets 1.
Global alliances and industry consolidation could change competition over the longer term, and US antitrust policy may influence which partnerships can be formed 1. If policy shifts, competitors' positions could evolve quickly.
- American AirlinesAAL
US airline with substantial route overlap, cited in the source as part of alliances that Alaska also participates in.
- United AirlinesUAL
US airline named as a loyalty partner, and also a direct competitor on many routes.
- Southwest AirlinesLUV
US low-cost carrier competing in the group's domestic markets, referenced only indirectly in the analysed sources.
- Porter Airlines
Canadian regional airline that appears in Alaska's partner network.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Clear expands e-gates to 53 airports, plans nearly full rollout by end of yearThe Points Guy · 04 Nov 2026 · EN
- Citi / AAdvantage Business World Elite Mastercard review: Best for affordable American Airlines perksThe Points Guy · 04 Nov 2026 · EN
- Eat your way through Nashville with this credit cardThe Points Guy · 04 Nov 2026 · EN
- Alaska Airlines Unveils Surprising New 6-Hour Nonstop Route: See Map NowSimple Flying · 02 Nov 2026 · EN
- 10 ways to use points and miles for a fabulous trip to LondonThe Points Guy · 02 Nov 2026 · EN
- Hawaiian Airlines Is Overhauling The Premium Experience On 24 Airbus A330s, But Isn't Even Touching Its NarrowbodiesSimple Flying · 01 Nov 2026 · EN
- Alaska Air Group To Lay Off 200 Roles By Year’s End, Cites Soaring Fuel PricesSimple Flying · 01 Nov 2026 · EN
- Alaska Airlines Is Betting On Seatback Screens For Only A Fraction Of Seats On Its Transcon Boeing 737 MAX 10sSimple Flying · 30 Oct 2026 · EN
- Alaska Airlines to Lay Off 200 Employees as It Forecasts a Loss in 2026Skift · 30 Oct 2026 · EN
- Atmos Ascent vs. Atmos Summit: The Summit is better—but not for everyoneThe Points Guy · 30 Oct 2026 · EN
- Germany's Condor Airlines to bring its striped planes to bigger US citiesThe Points Guy · 30 Oct 2026 · EN
- American & United Airlines Continue Price Hikes For Solo Travelers, Report FindsSimple Flying · 30 Oct 2026 · EN
- Hot Off The Assembly Line: Alaska Airlines Takes Delivery Of 6th Boeing 787-9 DreamlinerSimple Flying · 29 Oct 2026 · EN
- Alaska Airlines' New 8+ Hour Boeing 737 MAX Route Isn't From Seattle: See Map NowSimple Flying · 29 Oct 2026 · EN
- 5 Reasons Why Alaska Airlines Says Its First Class Is "Irresistible"Simple Flying · 29 Oct 2026 · EN
- 8 types of credit cards and what each is best forThe Points Guy · 28 Oct 2026 · EN
- Frontier reports major airfare surge as high jet fuel costs pinch consumersThe Points Guy · 28 Oct 2026 · EN
- Alaska Airlines Cancels All Flights To 3 Destinations: See Full List NowSimple Flying · 28 Oct 2026 · EN
- 5 ways to make the most of the new IHG Premier Select Card benefitsThe Points Guy · 28 Oct 2026 · EN
- Alaska Airlines Is Bringing Real Lie-Flat Beds To The Boeing 737 MAX 10!Simple Flying · 28 Oct 2026 · EN
SEC filings
- Current report20 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report29 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report21 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report17 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report03 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report14 May 2026Shareholder vote
- Current report12 May 2026Material agreement · Creation of a direct financial obligation
- Current report07 May 2026Other events · Financial statements and exhibits
- Quarterly report07 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Alaska Air Group, Inc. · 12 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Alaska Air Group, Inc. · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Alaska Air Group, Inc. · 20 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.