Alaska Air Group Inc. (ALK) said Monday that it expects June revenue to improve to being down about 80% from a year ago, following May revenue being down 83% and April revenue down 87%. The air carrier said load factor is expected to improve to about 50% to 55%, from 40% in May and 15% in April. Available seat miles, or capacity, is expected to be down 70% in June, after being down 79% in May, while revenue passengers is expected to improve to being down 80% to 85% in June from down 90% in May. The company said despite the signs of recovery seen starting in May, second-quarter demand remains significantly below historic levels as a result of the COVID-19 pandemic, and the third quarter is expected to be "significantly adversely impacted" as well. The company said it has parked 156 mainline aircraft, including permanently removing 12 Airbus (AIR.FR) aircraft. The stock, which fell 1.9% in premarket trading, has lost 46.4% year to date through Friday, while the U.S. Global Jets ETF (JETS) has lost 44.2% and the S&P 500 has declined 4.1%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 22, 2020 09:06 ET (13:06 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.