Alaska Air says underlying business strengthened despite fuel-hit quarter

Alaska Air Group, Inc.

Alaska Air Group, Inc.

ALK

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CHICAGO, July 22 (Reuters) - Alaska Air Group ALK.N returned to profitability in June with a double-digit pretax margin despite fuel prices running nearly 70% higher than a year earlier, CEO Ben Minicucci said on the carrier's quarterly earnings call on Wednesday.

He added that the airline's second quarter would have been "solidly profitable" without the fuel-price spike. Alaska reported an adjusted second-quarter loss of 92 cents per share and forecast third-quarter adjusted earnings ranging from breakeven to $1 per share. The midpoint of 50 cents was well below analysts' average estimate of $1.38, according to LSEG.


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