Seattle Head Quartered Alaska Airlines is the fifth largest airline based in the United States by capacity and passenger traffic. The airline transports over 44 million passengers a year on their network of more than 115 destinations.
Alaska Airlines The 5th Largest Carrier in the US By Capacity (w/c 16-Dec-2019)
Source: Blue Swan Daily
The airline reported a $214 million loss for Q2 of 2020 while they turned a profit of $262 million for the same period last year. The airline also managed to reduce their cash bun by 70% when comparing the $400 million per month outflow in March to a reduced figure of $120 million in June.
Alaska Airlines received $992 million through the CARES Act in April and signed an agreement to receive loans amounting to $1.1 billion through the US government’s COVID-19 relief package (CARES Act loans). At the end of June, it had $2.8 billion in unrestricted cash and marketable securities.
Alaska Airline would join these carriers as the 14th member airline of the alliance
The airline had also been officially invited to be the 14th member to join the prestigious Oneworld alliance, with an expected entry into the alliance slated to be by the end of this year. The membership should provide Alaska Airlines loyal customers with a bigger network of destinations to choose from with various other member airlines for their future travels across the world and also give fellow Oneworld member carrier customers an additional 34 destinations that were previously not part of the Oneworld network.
Given the dampened demand in air travel to exist for the foreseeable future, Alaska Airlines like other airlines around the world have taken decisions to conserve cash. This included decisions to eliminate 300 management positions in July of this year and to use 5 of their Boeing 737-900 passenger aircraft for freighter-only services, the airline has received regulatory approval for their freighter plans.
Currently, 43 mainline aircraft and all SkyWest Airlines and Horizon Air aircraft are back in service while 89 mainline aircraft are still parked. Alaska Air Group owns Alaska Airlines and Horizon Air while SkyWest Airlines offer feeder services to Alaska Airlines.
Source: Alaska Airlines & Oneworld