Business
Jet-Fuel Prices Rear Up Again at Alaska Air
Alaska Air shares fell after it reported a second-quarter loss and forecast third-quarter earnings below investors’ expectations. Blame fuel prices, which have been on the rise again this month as the conflict in Iran has intensified.
Airlines have been boosting fares to cover higher costs, and even with higher fares, planes are as full as ever, Alaska President and Chief Financial Officer Shane Tackett said in an interview. “I think people are really choosing experiences when they can with whatever discretionary income they may have, and it doesn’t feel to us like that’s likely to change.”
Alaska expects adjusted earnings to range between break-even and $1 a share for the third quarter, compared with the $1.47 forecast by investors. Shares fell 1.9% in after-hours trading.
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