ALASKA AIR GROUP, INC.

Listed Company

ALKCIK 0000766421NYSELarge AcceleratedAir Transportation, ScheduledDelawareFY ends Dec 31

Period

FY 2025

Revenue

$14.24B

Net Income

$100.00M

Total Assets

$20.36B

Equity

$4.12B

Shares Out

111.43M

Op. Cash Flow

$1.25B

ALK$45.51−14.36% · past yearDBEQ Basic

Daily closing prices

Business

Alaska Air Group operates three airlines providing scheduled passenger and cargo air transportation across North America, Latin America, Asia, and the Pacific. Alaska Airlines and Hawaiian Airlines operate mainline service on widebody and narrowbody aircraft from hubs including Seattle, Honolulu, Portland, and Los Angeles. Horizon Air provides regional feeder service. Revenue derives from passenger fares, cargo services, and a co-branded loyalty program. The company also operates dedicated freighter aircraft and provides Amazon Air Transportation Services.

Summary from 10-K filed 2026-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	14,239	11,735	10,426	9,646	—
Wages and benefits	4,763	3,588	3,041	2,640	2,218
Variable incentive pay	268	358	200	—	—
Aircraft fuel, including hedging gains and losses	2,879	2,506	2,641	2,668	—
Aircraft maintenance	912	620	488	424	364
Aircraft rent	250	207	208	291	254
Landing fees and other rentals	1,109	781	680	581	555
Contracted services	590	444	389	329	235
Selling expenses	407	349	303	295	173
Depreciation and amortization	795	583	451	415	394
Food and beverage service	383	287	241	197	139
Third-party regional carrier expense	272	243	218	182	147
Other	1,058	854	729	717	507
Special items - operating	250	345	443	580	—
Total Operating Expenses	13,936	11,165	10,032	—	—
Operating Income	303	570	394	70	685
Interest income	94	101	80	53	25
Interest expense	−272	−171	−121	−108	—
Interest capitalized	37	29	27	14	11
Special items - net non-operating	0	16	−18	0	—
Other - net	−16	0	−39	50	36
Total Non-operating Expense	−157	−25	−71	9	−56
Income Before Income Tax	146	545	323	79	629
Income tax expense	46	150	88	21	151
Net Income	100	395	235	58	478
Basic earnings per share (in dollars per share)	0.85	3.13	1.84	0.46	3.82
Diluted earnings per share (in dollars per share)	0.83	3.08	1.83	0.45	3.77
Basic	118	126	127	127	125
Diluted	120	128	129	128	127

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	627	1,201	281	338	470
Restricted cash	28	29	0	0	—
Marketable securities	1,496	1,274	—	—	—
Receivables - net	565	558	383	296	546
Inventories and supplies - net	203	199	116	104	62
Prepaid expenses	278	307	176	163	120
Other current assets	69	192	239	60	76
Total Current Assets	3,266	3,760	2,705	3,040	3,920
Property and equipment - net of accumulated depreciation and amortization of $4,945 and $4,548	11,857	10,781	8,388	7,257	6,138
Operating lease assets	1,268	1,296	1,195	1,471	1,453
Goodwill	2,700	2,700	1,943	2,038	2,044
Intangible assets - net of accumulated amortization of $74 and $16	815	873	90	—	—
Other noncurrent assets	432	334	292	380	396
Total Noncurrent Assets	17,095	16,008	—	—	—
Total Assets	20,361	19,768	14,613	14,186	13,951
Accounts payable	324	186	207	221	200
Accrued wages, vacation and payroll taxes	881	1,001	584	619	457
Other accrued liabilities	1,055	997	800	846	625
Current portion of long-term debt and finance leases	721	450	—	—	—
Current portion of operating lease liabilities	197	207	158	228	268
Total Current Liabilities	6,589	6,145	4,459	4,493	3,991
Long-term debt and finance leases, net of current portion	4,834	4,538	—	—	—
Operating lease liabilities, net of current portion	1,141	1,198	1,125	1,393	1,279
Net deferred tax liabilities	1,004	934	695	574	578
Deferred revenue	1,711	1,664	1,382	1,374	1,446
Obligation for pension and post-retirement medical benefits	369	460	362	348	305
Other liabilities	595	457	295	305	378
Total Noncurrent Liabilities	9,654	9,251	6,041	—	—
Commitments and Contingencies (Note 9)	—	—	—	—	—
Preferred stock, $0.01 par value, Authorized: 5,000,000 shares, none issued or outstanding	0	0	0	0	0
Common stock, $0.01 par value, Authorized: 400,000,000 shares, Issued: 2025 - 145,115,659 shares; 2024 - 141,449,174 shares, Outstanding: 2025 - 115,530,889 shares; 2024 - 123,119,199 shares	1	1	1	1	1
Capital in excess of par value	961	811	695	577	494
Treasury stock (common), at cost: 2025 - 29,584,770 shares; 2024 - 18,329,975 shares	−1,701	−1,131	—	—	—
Accumulated other comprehensive loss	−173	−239	−299	−388	−262
Retained earnings	5,030	4,930	4,535	4,300	4,242
Total Shareholders' Equity	4,118	4,372	4,113	3,816	3,801
Total Liabilities and Shareholders' Equity	20,361	19,768	14,613	14,186	13,951

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation and other	10	63	85	42	51
Non-cash special items	51	−70	422	—	—
Changes in deferred income taxes	47	135	81	22	104
Increase in accounts receivable	−4	−128	−19	−45	−69
Increase (decrease) in air traffic liability	−23	63	−44	17	90
Increase in deferred revenue	177	116	106	139	81
Other - net	96	307	−267	−21	9
Net cash provided by operating activities	1,249	1,464	1,050	1,418	1,030
Aircraft and aircraft purchase deposits	−1,063	−817	−1,055	−1,272	−68
Other flight equipment	−216	−171	−197	−208	−126
Other property and equipment	−309	−293	−242	−191	−98
Acquisition of Hawaiian, net of cash acquired	0	−659	0	0	—
Supplier proceeds	0	162	0	—	—
Purchases of marketable securities	−1,479	−832	−536	—	—
Sales and maturities of marketable securities	1,300	1,800	1,200	2,300	—
Other investing activities	155	215	−86	−2	−12
Net cash used in investing activities	−1,623	−634	−964	−1,218	−1,008
Proceeds from issuance of long-term debt, net of issuance costs	808	2,310	411	—	—
Long-term debt payments	−519	−1,915	−282	−385	−1,334
Common stock repurchases	−570	−312	−137	0	0
Other financing activities	82	36	−139	60	57
Net cash provided by (used in) financing activities	−199	119	−147	−325	−914
Net increase (decrease) in cash and cash equivalents	−573	949	−61	−125	−892
Interest, net of amount capitalized	223	148	105	71	109
Income taxes, net of refunds received	3	22	15	0	48
Right-of-use assets acquired through operating leases	173	35	178	461	273
Operating leases converted to finance leases	200	0	505	0	0
Property and equipment acquired through the issuance of debt	69	68	179	0	0

Filings

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Frequently asked questions

What is ALASKA AIR GROUP, INC.'s CIK number?

ALASKA AIR GROUP, INC.'s SEC CIK number is 0000766421 (766421). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find ALASKA AIR GROUP, INC.'s SEC filings?

All of ALASKA AIR GROUP, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did ALASKA AIR GROUP, INC. last report earnings?

ALASKA AIR GROUP, INC. (ALK) most recently filed an earnings 8-K with the SEC on Apr 20, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000766421-26-000015). This is ALASKA AIR GROUP, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is ALASKA AIR GROUP, INC.'s most recent earnings 8-K?

ALASKA AIR GROUP, INC.'s latest earnings 8-K (Item 2.02) was filed Apr 20, 2026 under accession 0000766421-26-000015. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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