Alaska Air Group Terminates Agreement, Incurs New Obligation

Ticker: ALK · Form: 8-K · Filed: 2024-09-24T00:00:00.000Z

Sentiment: neutral

Topics: agreement-termination, financial-obligation

Related Tickers: ALK

TL;DR

Alaska Air Group terminated one deal and entered into another that creates a financial obligation. Details to follow.

AI Summary

On September 24, 2024, Alaska Air Group, Inc. reported the termination of a material definitive agreement and the creation of a direct financial obligation. The earliest event reported was on September 20, 2024. The company is incorporated in Delaware and headquartered in Seattle, Washington.

Why It Matters

This filing indicates a significant change in Alaska Air Group's contractual and financial standing, potentially impacting its operational and financial strategies.

Risk Assessment

Risk Level: medium — The termination of a material agreement and the creation of a new financial obligation can signal shifts in business strategy or financial health, warranting closer scrutiny.

Key Players & Entities

FAQ

What was the material definitive agreement that was terminated?

The filing does not specify the details of the terminated material definitive agreement.

What is the nature of the new direct financial obligation incurred by Alaska Air Group?

The filing does not provide specific details regarding the nature or amount of the direct financial obligation.

What is the significance of the earliest event reported on September 20, 2024?

The filing does not elaborate on the specific events that occurred on September 20, 2024, other than it being the earliest reported event.

What are the primary business activities of Alaska Air Group, Inc.?

Alaska Air Group, Inc. is engaged in scheduled air transportation, as indicated by its Standard Industrial Classification code [4512].

Where are Alaska Air Group's principal executive offices located?

Alaska Air Group's principal executive offices are located at 19300 International Boulevard, Seattle, Washington 98188.

From the Filing

0000766421-24-000066.txt : 20240924 0000766421-24-000066.hdr.sgml : 20240924 20240924085031 ACCESSION NUMBER: 0000766421-24-000066 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 74 CONFORMED PERIOD OF REPORT: 20240924 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240924 DATE AS OF CHANGE: 20240924 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: 241317628 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-20240924.htm 8-K alk-20240924 0000766421 false 0000766421 2024-09-24 2024-09-24 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 Date of Report (Date of earliest event reported): September 24, 2024 (September 20, 2024) 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 On September 20, 2024, Alaska Air Group, Inc. (the “ Company ”), entered into an amended and restated credit agreement (the “ Revolving Credit Facility ”) with Alaska Airlines, Inc. (“ Alaska ”), as borrower, the lenders party thereto and Citibank, N.

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