Alaska Airlines predicts strong profits as business travel rebounds
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Civil Aviation Resources Network April 19, 2024 News: According to Reuters, Alaska Airlines Group said on Thursday that it expects stronger-than-expected profits for the current quarter due to a rebound in business travel demand, pushing its stock price higher.
Alaska Airlines Chief Financial Officer Shane Tackett said in an interview that while demand for leisure travel remains strong, business travel spending is currently accumulating, and "business travel is better than we expected." Other U.S. airlines also reported an increase in business travel.
Tackett said the airline now expects full-year earnings to be between $3.25 and $5.25 per share, an increase from $3 to $5 per share.
Tackett also noted that rising fuel costs are a concern for the company.