An Alaska Airlines Boeing 737 MAX 9 taxis at Seattle-Tacoma International Airport in Seattle, Washington on March 25, 2024.
Stephen Brashear | Getty Images
Alaska Airlines Forecast second-quarter and full-year profits got here in well above estimates due to strong travel demand on Thursday, despite a first-quarter loss attributed to a burst door plug on an almost latest Boeing 737 Max 9 in mid-air in January.
Alaska forecast adjusted earnings per share between $2.20 and $2.40, above the $2.12 expected by analysts surveyed by LSEG. For 2024, the airline expects earnings of between $3.25 and $5.25 per share, well above the typical of $4.36.
The Seattle-based airline reported a first-quarter net lack of $132 million, or $1.05 per share, in step with analysts’ expectations. Additionally, the corporate reported first-quarter revenue of $2.2 billion, barely ahead of the $2.19 billion estimated by analysts surveyed by LSEG.
The airline received $162 million from Boeing for the Jan. 5 accident, which led to the Federal Aviation Administration briefly grounding the planes. Alaska said it expects additional compensation from the manufacturer.
delta And United have also forecast that strong travel demand for 2024 will boost earnings.
