Alaska Air Posts Loss After Hit From Boeing Door Plug Blowout

By Helena Smolak

Alaska Air Group posted a first-quarter net loss after it took a hit from the blowout of a Boeing jet door plug during a flight in January.

The airline on Thursday reported a net loss of $132 million, or $1.05 a share, compared with a net loss of $142 million, or $1.11 a share, a year earlier.

On an adjusted basis, the company's loss widened to $116 million, or $0.92 a share, compared with a loss of $79 million, or $0.62 a share, last year. Alaska Air previously said that it expected a first-quarter adjusted loss of $1.15 a share to $1.05 a share.

The airline said the flight incident in January and the Boeing 737-9 MAX grounding that extended into February had significantly weighed on operations in the first quarter. Boeing handed the carrier $162 million in cash compensation for financial damages.

This quarter, the company is forecasting earnings per share between $2.20 and $2.40. For the full year, it expects earnings per share of $3.25 to $5.25.

Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

April 18, 2024 06:34 ET (10:34 GMT)

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