Alaska Air Group Inc. (ALK) is an airline holding company based in SeaTac, Washington. It owns two certificated airlines operating in the United States, Alaska Airlines and Horizon Air. It was formed in 1985 and acquired Horizon Air and Jet America Airlines the next year. Jet America Airlines was merged into Alaska Airlines in 1987. Alaska Air Group subsidiaries had 14,710 employees in 2007, 14,143 in 2008 and 12,440 in 2009. At December 31, 2011, Alaska Air Group has 12,806 employees (9,640 at Alaska Airlines and 3,166 at Horizon Air), compared to 12,039 (9,013 at Alaska Airlines and 3,202 at Horizon Air) at December 31, 2010. Alaska Airlines operates only U.S. built Boeingaircraft with up to 181 seats while Horizon operates only Canadian built Bombardier Aerospace planes with up to 76 seats. In 2011, Alaska Air Group, replaced the AMR Corporation in the Dow Jones Transportation Average.
Alaska Air expected to announce Virgin America deal Monday Alaska Air Group Inc. is expected to announce Monday that it won the auction for Virgin America Inc., besting rival JetBlue Airways Corp. in a frenzied bidding process that culminated in a cash price of about $2.5 billion, according to people familiar with the matter. This new chapter in airline consolidation amid low-fare carriers comes at a premium. The deal signed Friday night, according to one of the people, was more than $1 billion over Virgin America’s VA, +41.67% market capitalization on Friday, which had started to rise last month on takeover speculation. Bidding between Alaska Airlines’ ALK, -3.77% parent and JetBlue JBLU, -4.31% was feverish, this person said, with the price continuing to rise. Alaska prevailed in part because of its clean balance sheet, which will allow it to more easily borrow funds for the acquisition, the person said. A person familiar with the jousting said it was “a fierce back and forth between the two sides, with multiple bids for a number of days.” But ultimately, JetBlue “put the pencil down” because the price had gotten too high. The combination of Alaska and San Francisco-based Virgin America, which is expected to undergo scrutiny from the U.S. Justice Department, would create the No. 5 U.S. airline by traffic, eclipsing JetBlue, which currently holds that spot. An expanded version of this report appears on WSJ.com.
Alaska Air Group Undervalued dividend payer with healthy financial position but medium growth potential. NYSE $7B | MARKET CAP AIRLINES Alaska Air Group, Inc., through its subsidiaries, provides passengers and cargo air transportation services primarily in the United States. More info. Approaching a soft support at 53.35 Could push through next support level at 40.xx Ill be watching this one.
Reported before open today (7/21/16) Earnings: EPS $2.12 Revenue $1.49B Estimates: EPS $2.08 Revenue $1.5B Up 0.33% pre-market so far
If ALK can get past 68 1/4 in the next week, then there could be a quick run to ~75, seeing as how the area from 68-75 tends to be covered quickly, up and down. Can see an inverted head-and-shoulders here.
Analyst Upgrade/Downgrade Update Brokerage firm: Imperial Capital Change: Coverage Reiterated/Price Target Changed Previous Rating: N/A Current Rating: In-line Previous Price Target: $74 Current Price Target: $84
Upcoming dividend information: Ex-Div-Date: 11/10/16 Payment Date: 12/1/16 Dividend: $0.28 Current Price: $70.96 Annual Yield: 1.55%
