Alaska Air Group Completes Asset Acquisition from AerCap

TL;DR

ALK just snagged some AerCap planes via lease, effective today!

AI Summary

On September 18, 2024, Alaska Air Group, Inc. (ALK) announced the completion of its acquisition of certain assets from AerCap Ireland Limited. This transaction involves the assumption of certain operating leases for aircraft and related equipment, with an effective date of September 18, 2024. The filing also details the creation of a direct financial obligation related to this agreement.

Why It Matters

This acquisition signifies a strategic move by Alaska Air Group to expand its fleet and operational capabilities through lease agreements, potentially impacting its long-term financial structure and service offerings.

Risk Assessment

Risk Level: medium — The acquisition of assets through operating leases introduces financial obligations and operational dependencies that could carry medium-term risks if not managed effectively.

Key Players & Entities

• Alaska Air Group, Inc. (company) — Registrant
• AerCap Ireland Limited (company) — Seller of acquired assets
• September 18, 2024 (date) — Effective date of asset acquisition and lease assumption

FAQ

From the Filing

0000766421-24-000062.txt : 20240918 0000766421-24-000062.hdr.sgml : 20240918 20240918085529 ACCESSION NUMBER: 0000766421-24-000062 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240918 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240918 DATE AS OF CHANGE: 20240918 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALASKA AIR GROUP, INC. CENTRAL INDEX KEY: 0000766421 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 911292054 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08957 FILM NUMBER: 241306257 BUSINESS ADDRESS: STREET 1: 19300 INTERNATIONAL BOULEVARD CITY: SEATTLE STATE: WA ZIP: 98188 BUSINESS PHONE: 206-392-5040 MAIL ADDRESS: STREET 1: 19300 INTERNATIONAL BOULEVARD CITY: SEATTLE STATE: WA ZIP: 98188 FORMER COMPANY: FORMER CONFORMED NAME: ALASKA AIR GROUP INC DATE OF NAME CHANGE: 19920703 8-K 1 alk-20240918.htm ALK 8-K SEPTEMBER 18, 2024 alk-20240918 0000766421 false 0000766421 2024-09-18 2024-09-18 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 September 18, 2024 (Date of earliest event reported) ALASKA AIR GROUP, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware (State or Other Jurisdiction of Incorporation) 1-8957 91-1292054 (Commission File Number) (IRS Employer Identification No.) 19300 International Boulevard Seattle Washington 98188 (Address of Principal Executive Offices) (Zip Code) ( 206 ) 392-5040 (Registrant's Telephone Number, Including Area Code) (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): ☐       Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐       Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐       Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐       Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Ticker Symbol Name of each exchange on which registered Common stock, $0.01 par value ALK New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). ☐ Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ This document is also available on our website at http://investor.alaskaair.com. ITEM 1.01 Entry into a Material Definitive Agreement The information contained in Item 2.03 concerning the direct financial obligations of Alaska Air Group, Inc., a Delaware corporation (“Alaska”) under the Guarantee (as defined below) is incorporated herein by reference. ITEM 2.01. Completion of Acquisition or Disposition o