Alaska Air Group Files 8-K on Sept 30

TL;DR

ALASKA AIR GROUP (ALK) filed an 8-K on 9/30/24 - check financials.

AI Summary

Alaska Air Group, Inc. filed an 8-K on September 30, 2024, reporting other events and financial statements. The filing details the company's operational and financial status as of that date, with its principal executive offices located at 19300 International Boulevard, Seattle, Washington.

Why It Matters

This filing provides a snapshot of Alaska Air Group's financial and operational status on September 30, 2024, which is crucial for investors to assess the company's performance and outlook.

Risk Assessment

Risk Level: low — This is a routine 8-K filing for financial reporting and does not indicate any unusual or significant risks.

Key Numbers

• 1-8957 — SEC File Number (Identifies the company's filing history with the SEC.)
• 91-1292054 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• ALASKA AIR GROUP, INC. (company) — Filer
• September 30, 2024 (date) — Reporting Date
• 19300 International Boulevard, Seattle, Washington 98188 (location) — Principal Executive Offices
• Delaware (location) — State of Incorporation

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value ALK New York Stock Exchange

Filing Documents

• alk-20240930.htm (8-K) — 36KB
• ex99109302024pressrelease.htm (EX-99.1) — 14KB
• ex992-alaskahawaiianprofor.htm (EX-99.2) — 722KB
• alaskaairgrouplogoa92.jpg (GRAPHIC) — 149KB
• 0000766421-24-000069.txt ( ) — 1143KB
• alk-20240930.xsd (EX-101.SCH) — 2KB
• alk-20240930_lab.xml (EX-101.LAB) — 21KB
• alk-20240930_pre.xml (EX-101.PRE) — 12KB
• alk-20240930_htm.xml (XML) — 3KB

01 Other Events

Item 8.01 Other Events. Senior Secured Notes Offering On September 30, 2024, Alaska Air Group, Inc. (the " Company ") issued a press release announcing that it launched a private offering (the " Offering ") of senior secured notes due 2029 and senior secured notes due 2031 (together, the " Notes ") by AS Mileage Plan IP Ltd. (" Loyalty Issuer "), an exempted company incorporated with limited liability under the laws of the Cayman Islands and an indirect, wholly-owned subsidiary of the Company. The Notes will be (i) fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by Alaska Airlines, Inc. (" Alaska ") and AS Mileage Plan Holdings Ltd. and on an unsecured basis by the Company (together, the " Guarantors ") and (ii) secured, on a senior, first-priority basis by the Guarantors' (other than the Company) right, title and interest in certain collateral associated with Alaska's customer loyalty program, Alaska Airlines Mileage Plan. Contemporaneously with the closing of the Offering, the Company expects to enter into a new credit agreement for a senior secured Term Loan B due 2031 (the " Loyalty Term Loan Facility "). The Loyalty Term Loan Facility will be secured by the same collateral that secures the Notes on an equal and ratable basis with the lien on the Notes and will rank pari passu in right of payment with the Notes. The closing of the Offering is not contingent upon the closing of the Loyalty Term Loan Facility. Loyalty Issuer intends to use the net proceeds received from the Offering, together with borrowings under the Loyalty Term Loan Facility, in each case, after deducting fees and expenses payable by the Company, (i) to fund the reserve account for the Notes and the Loyalty Term Loan Facility and (ii) to fund a collection account, and the proceeds deposited into the collection account will be used to make an intercompany loan to Alaska on the closing date of the Offering (the " Intercompany Loan "). Alaska intend

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. As previously disclosed, on December 2, 2023, the Company entered into an Agreement and Plan of Merger (the " Merger Agreement ") with Hawaiian Holdings, Inc., a Delaware corporation, and Marlin Acquisition Corp., a Delaware corporation and a wholly owned subsidiary of Alaska (" Merger Sub "). On September 18, 2024, pursuant to the Merger Agreement, Merger Sub merged with and into Hawaiian, with Hawaiian surviving as a wholly owned subsidiary of the Company (the " Merger "). The Company is making available the following information. The unaudited pro forma condensed combined financial information of the Company, which give effect to the Merger, including the unaudited pro forma condensed combined balance sheet as of June 30, 2024 and the unaudited pro forma condensed combined statements of operations for the year ended December 31, 2023 and the six months ended June 30, 2024 and the notes related thereto, are filed as Exhibit 99.2 to this report and incorporated herein by reference. (d) Exhibits Exhibit 99.1 Press Release of Alaska announcing the Notes, dated September 30, 2024. Exhibit 99.2 Unaudited pro forma condensed combined financial information of the Company for the year ended December 31, 2023 and as of and for the six months ended June 30, 2024. 104 Cover Page Interactive Data File - embedded within the Inline XBRL Document

Forward-Looking Statements

Forward-Looking Statements Forward-Looking Statements in this report and certain oral statements made from time to time by representatives of the Company contain various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended which are subject to the "safe harbor" created by those sections. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. All statements other than statements of historical facts are "forward-looking statements" for purposes of these provisions. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "project," "predict," "potential," and similar expressions intended to identify forward-looking statements. Forward-looking statements include, without limitation, statements regarding the Company's intentions and expectations regarding revenues as well as statements regarding the Offering described in this report. Such forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward-looking statements. Factors include, among others, risks include competition, labor costs, relations and availability, general economic conditions including those associated with pandemic recovery, increases in operating costs including fuel, inability to meet cost reduction, ESG and other strategic goals, seasonal fluctuations in demand and financial results, supply chain risks, events that negatively impact aviation safety and security, and changes in laws and regulations that impact our business and other factors, as described in the Company's filings with the Securities and Exchange Com

Signatures

Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ALASKA AIR GROUP, INC. Registrant Date: September 30, 2024 /s/ KYLE B LEVINE Kyle B. Levine Senior Vice President, Legal, General Counsel and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR