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Alaska Air Group Inc. (ALK+3.26%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The report details the company's financial performance, including a consolidated pretax income of $545 million for 2024, compared to $323 million in the previous year. This increase was partly due to the acquisition of Hawaiian Holdings, Inc. on September 18, 2024.
Alaska Air Group's total operating revenue for 2024 was $11.7 billion, a 13% increase from $10.4 billion in 2023. This growth was driven by the inclusion of Hawaiian's operations and increased passenger traffic.
The company reported total operating expenses of $11.2 billion, up from $10 billion in 2023. The increase in expenses was attributed to higher wages, fuel costs, and integration costs related to the Hawaiian acquisition.
Alaska Air Group's cash and marketable securities amounted to $2.5 billion as of December 31, 2024, with long-term debt totaling $4.5 billion, reflecting an increase due to new financing arrangements.
The report outlines the company's strategic focus on integrating Hawaiian Airlines, with anticipated capacity growth of 2% to 3% in 2025. The integration is expected to drive revenue improvements and cost synergies.
Alaska Air Group's loyalty program, Mileage Plan, contributed significantly to revenue, with loyalty program revenue totaling $1.9 billion in 2024.
The filing also highlights the company's environmental initiatives, including commitments to reduce carbon emissions and invest in sustainable aviation fuel.
The report discusses potential risks, including competition, fuel price volatility, and regulatory changes that could impact future operations and financial results.
Alaska Air Group's Board of Directors and management continue to focus on maintaining operational efficiency and enhancing shareholder value through strategic initiatives and disciplined financial management.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Alaska Air Group Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.