Alaska Air Group Inc.

NYSE:ALK   3:59:59 PM EDT
41.57
+0.98 (+2.41%)
Layoffs, Other Pre-Announcement

Alaska Air Group Inc - Planning Assumption Is For Our Q4 Capacity To Be Down Approximately 40%

Published: 10/13/2020 20:31 GMT
Alaska Air Group Inc (ALK) - Alaska Air Group Inc - Planning Assumption is for Our Q4 Capacity to Be Down Approximately 40%.
Alaska Air Group Inc - Capacity Reductions Are Expected to Continue Into 2021 and We Have Begun to Right-size Our Workforce.
Alaska Air Group - Early-out, Incentive Leave, Non-union Management Reductions Will Result in One-time Cost of About $320 Million, to Be Recorded in Q3.
Alaska Air Group Inc - Mitigation Programs Were Accepted by More Than 4,000 Employees.
Alaska Air Group Inc - September Cash Burn Was Approximately $117 Million.
Alaska Air Group Inc - Expect October Cash Burn Will Be Approximately $125 Million.
Alaska Air Group Inc - Sees October 2020 Total Revenue Down About 65%.
Alaska Air Group Inc - Effective Oct 1, 2020, About 400 Employees, Primarily Flight Attendants, Were Placed on an Involuntary Furlough.
Alaska Air Group Inc - As of October 9, 2020, Air Group Had Cash and Short-term Investments of About $3.6 Billion.
Alaska Air Group Inc - Based on Current Capacity and Network Expectations, Anticipate Recalling Many of Furloughed Employees by End of Year.
Alaska Air Group Inc - Expected Oct Revenue Passengers Down 60-65%.
Alaska Air Group - Early-out, Incentive Leave and Non-union Management Reductions Will Result in One-time Cost of About $320 Million.
Alaska Air Group Inc - Sees October 2020 Passenger Load Factor About 45% to 50%.
Alaska Air Group Inc - One-time Cost of About $320 Million Will Be Recorded in Q3.