Alaska Air Group Files 2024 10-K

TL;DR

Alaska Air Group filed its 2024 10-K, detailing revenues and operations. Check financials for Q4.

AI Summary

Alaska Air Group, Inc. filed its 2024 10-K on February 14, 2025, reporting on its fiscal year ending December 31, 2024. The filing details the company's financial performance, including passenger and mileage plan revenues, and provides updates on its operations and strategic initiatives within the air transportation sector. Key financial data and operational metrics for the fiscal year are presented.

Why It Matters

This 10-K filing provides investors and analysts with a comprehensive overview of Alaska Air Group's financial health and operational performance for the 2024 fiscal year, crucial for understanding the company's trajectory in the competitive airline industry.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks beyond those typical for the airline industry.

Key Numbers

• 2024 — Fiscal Year (The period covered by the 10-K filing.)
• 1231 — Fiscal Year End (Indicates the end of the reporting period.)
• 0000766421 — Central Index Key (Unique identifier for Alaska Air Group in SEC filings.)

Key Players & Entities

• ALASKA AIR GROUP, INC. (company) — Filer of the 10-K
• 2024-12-31 (date) — Fiscal year end
• 2025-02-14 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 Par Value ALK New York Stock Exchange
• $40.40 — billion (based on the closing price of $40.40 per share on the New York Stock Exchang
• $99 — rs to purchase an additional ticket for $99 plus taxes, with no restrictions or bla

Filing Documents

• alk-20241231.htm (10-K) — 3053KB
• ex1028-sano25topa3866.htm (EX-10.28) — 22KB
• ex1029-sano26topa3866.htm (EX-10.29) — 17KB
• ex191insidertradingpolicya.htm (EX-19.1) — 114KB
• alk10-k12312024ex21.htm (EX-21) — 19KB
• alk10-k12312024ex231.htm (EX-23.1) — 2KB
• alk10-k12312024ex311.htm (EX-31.1) — 10KB
• alk10-k12312024ex312.htm (EX-31.2) — 10KB
• alk10-k12312024ex321.htm (EX-32.1) — 5KB
• alk10-k12312024ex322.htm (EX-32.2) — 5KB
• alk-20241231_g1.jpg (GRAPHIC) — 109KB
• image_0.jpg (GRAPHIC) — 35KB
• 0000766421-25-000009.txt ( ) — 16134KB
• alk-20241231.xsd (EX-101.SCH) — 78KB
• alk-20241231_cal.xml (EX-101.CAL) — 154KB
• alk-20241231_def.xml (EX-101.DEF) — 565KB
• alk-20241231_lab.xml (EX-101.LAB) — 1130KB
• alk-20241231_pre.xml (EX-101.PRE) — 850KB
• alk-20241231_htm.xml (XML) — 2829KB

BUSINESS

BUSINESS 4 ITEM 1A.

RISK FACTORS

RISK FACTORS 22 ITEM 1B. UNRESOLVED STAFF COMMENTS 32

C

ITEM 1 C . CYBERSECURITY 32 ITEM 2.

PROPERTIES

PROPERTIES 33 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 34 ITEM 4. MINE SAFETY DISCLOSURES 34 PART II 34 ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES 34 ITEM 6. [RESERVED] 36 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 36 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE S ABOUT MARKET RISK 48 ITEM 8. CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 49 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 93 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 93 ITEM 9B. OTHER INFORMATION 97 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 97 PART III 97 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 97 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 97 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 97 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 97 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 97 PART IV 97 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 97 ITEM 16. FORM 10-K SUMMARY 102

SIGNATURES

SIGNATURES 103 As used in this Form 10-K, the terms "Air Group", the "Company", "our", "we", and "us" refer to Alaska Air Group, Inc. and its subsidiaries, unless the context indicates otherwise. Alaska Airlines, Inc., Hawaiian Holdings, Inc., and Horizon Air Industries, Inc. are referred to as "Alaska", "Hawaiian", and "Horizon" and together as "our airlines". CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS In addition to historical information, this Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or the Company's present expectations. 2 You should not place undue reliance on our forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our forward-looking statements are based on the information currently available to us and speak only as of the date on which this report was filed with the SEC. Other than as required by law, we expressly disclaim any obligation to issue any updates or revisions to our forward-looking statements, even if subsequent events cause our expectations to change regarding the matters discussed in those statements. For a discussion of risks and uncertainties that may cause our forward-looking statements to differ materially, see Item 1A. "Risk Factors" within this document. Some of these risks include competition; labor costs, relations, and availability; general economic conditions; increases in operating costs, incl

BUSINESS

ITEM 1. BUSINESS Alaska Air Group is a Delaware corporation incorporated in 1985 that operates three airlines, Alaska Airlines, Hawaiian Airlines, and Horizon Air. Alaska Airlines was organized in 1932 and incorporated in 1937 in the state of Alaska. Hawaiian Airlines was originally incorporated in 1929 in the Territory of Hawai'i, and has been a Delaware corporation and wholly-owned subsidiary of Hawaiian Holdings, Inc. since 2005. Horizon Air is a Washington corporation that was incorporated and began service in 1981, and was acquired by Air Group in 1986. Air Group acquired Virgin America in 2016, then legally merged the entity with Alaska in 2018, at which time the airlines' operating certificates were also combined. The Company also includes McGee Air Services, an aviation services provider that was established as a wholly-owned subsidiary of Alaska in 2016, and other subsidiaries. Alaska, Hawaiian, and Horizon operate as separate airlines. Alaska also purchases third-party capacity for regional flying under a capacity purchase agreement (CPA). A summary of each airline's operations is presented below: Alaska - includes scheduled air transportation on Alaska's Boeing 737 (B737) aircraft for passengers and cargo from the western United States (U.S.) throughout North America, Mexico, Costa Rica, Belize, the Bahamas, and Guatemala. Hawaiian - includes scheduled air transportation on Hawaiian's Boeing 787-9 (B787-9), Boeing 717-200 (B717-200), Airbus A330-200 (A330-200), Airbus A321neo, and Airbus A330-300F (A330-300F) aircraft for passengers and cargo between the Hawaiian Islands (the Neighbor Island routes), as well as between Hawai'i and the continental U.S., parts of Asia, the South Pacific, Australia, and New Zealand. Horizon - includes scheduled air transportation on Horizon's Embraer 175 (E175) aircraft for passengers throughout the western region of North America. All capacity is sold to Alaska under a CPA. Our Company is the fifth largest provide

View Full Filing

View this 10-K filing on SEC EDGAR